’Reddit is built for this moment’ - Stock soars on crushed earnings
Oct 15 (Reuters) - Eland Oil & Gas PLC ELA.L :
* SEPLAT PETDEVCOM PLC ELAND OIL & GAS PLC - RECOMMENDED
ACQUISITION
* ELAND OIL & GAS - REACHED AGREEMENT ON TERMS OF A
RECOMMENDED
CASH ACQUISITION OF ENTIRE SHARE CAPITAL OF ELAND BY SEPLAT
* ELAND OIL & GAS PLC - ACQUISITION VALUES ENTIRE ISSUED AND
TO BE
ISSUED ORDINARY SHARE CAPITAL OF ELAND AT £382 MILLION ON A
FULLY DILUTED BASIS
* ELAND OIL & GAS PLC - EACH ELAND SHAREHOLDER WILL BE
ENTITLED TO
RECEIVE FOR EACH ELAND SHARE 166 PENCE IN CASH
* ELAND OIL & GAS PLC - ELAND DIRECTORS UNANIMOUSLY INTEND
RECOMMEND THAT ELAND SHAREHOLDERS VOTE IN FAVOUR OF SCHEME AT
COURT MEETING
* ELAND OIL & GAS PLC - CASH CONSIDERATION PAYABLE UNDER
DEAL IS
BEING FUNDED VIA COMBINATION OF EXISTING CASH RESOURCES OF
SEPLAT, NEW LOAN FACILITY
* ELAND OIL & GAS - REACHED AGREEMENT ON TERMS OF A
RECOMMENDED
CASH ACQUISITION OF ENTIRE SHARE CAPITAL OF ELAND BY SEPLAT
Source text for Eikon: ID:nRSO8881Pa
Further company coverage: ELA.L