Hardman Resources
Hardman Resources Acquisition
10 January 2007 - The Scheme of Arrangement whereby Tullow Oil Plc has acquired Hardman Resources Limited has today been implemented. All payments to Hardman shareholders electing for cash consideration are being made effective 10 January, and all Tullow shares issued pursuant to the transaction have been admitted to Trading on the London and Irish Stock Exchanges.
Hardman intends to apply to the Australian Stock Exchange and the Alternative Investment Market of the London Stock Exchange for the cancellation of the official quotation of Hardman securities on those exchanges from that date.
Any Hardman shareholder requiring assistance or wishing to make an enquiry should contact one of the following:
Hardman Resources Shareholder Enquiry Line
In Australia: 1300 302 137
Outside Australia: +61 3 9415 4093
Tullow Oil plc
+44 20 8996 1000 - Richard Taylor
Email: ir@tullowoil.com
5 January 2007 - Hardman today announced the allocation of Tullow shares under the Scheme of Arrangement. Elections for approximately 137 million new Tullow shares were made under the Scheme. With a maximum of 65 million shares available for issue, the share consideration will be subject to scale-back.
As a result of the application of the scale-back, Scheme Shareholders who made valid elections to receive Share Consideration will receive:
- 0.22289 New Tullow Shares per Hardman Share for 47.422771% of the number of Hardman Shares held by them on 2 January 2007 for which they elected to receive Share Consideration (fractional entitlements to a New Tullow Share will be rounded down to the nearest whole number of New Tullow Shares, and all fractional entitlements will be paid in cash); and
- A$2.02 for each of the remainder of the Hardman Shares held by them on 2 January 2007.
For example, a Hardman shareholder who elected on 10,000 Hardman shares for new Tullow Shares will receive 1,056 New Tullow Shares calculated as follows:
| 10,000 x 47.422771% (rounded down to a whole number) | |
| = 4,742 x 0.22289 | |
| = 1,056 New Tullow Shares |
Those Scheme Shareholders who elected to receive all Cash Consideration are not affected by the elections made by other Scheme Shareholders or the required scale-back. The consideration will be despatched to shareholders on or before 10 January.
20 December 2006 - Following Shareholder and Court approval, the Scheme became effective today – download announcement.
19 December 2006 - The Federal Court of Australia has today approved the Scheme of Arrangement relating to the acquisition of Hardman by Tullow. The Scheme will become effective tomorrow, 20 December 2006.
18 December 2006 - Shareholders of Hardman Resources Limited (Hardman) today voted in favour of the Scheme of Arrangement for the acquisition of Hardman by Tullow. At a General Meeting of shareholders held today in Perth, Western Australia, the resolution was passed by a majority in number of shareholders and passed by over 75% of the votes cast on the resolution.
The resolution was carried following the conduct of a poll at the meeting; the results of which were as follows:
| Resolution | Votes For | % Votes For | Member Numbers For | Votes Against | % Votes Against | Member Numbers Against | Abstain |
|---|---|---|---|---|---|---|---|
| Agreement to Scheme | 246,670,428 | 94.38 | 1593 | 12,079,881 | 4.62 | 349 | 114 |
The federal Court of Australia is due to consider the proposed Scheme for approval tomorrow, 19 December 2006.
25 September 2006 - Tullow announced that it had reached agreement with the Board of Hardman Resources on the terms of a recommended scheme of arrangement to acquire all of the issued and to be issued ordinary shares in Hardman Resources (the “Scheme”).
| Presentations | Announcement | Presentation | Webcast |
|---|---|---|---|
| Recommended proposal to acquire Hardman Resources | ![]() |
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