Serica gets approvals to complete Tailwind acquisition
By Josh White
Date: Tuesday 21 Mar 2023
(Sharecast News) - Serica Energy announced the looming completion of the acquisition of Tailwind Energy Investments on Tuesday, after announcing the plan on 20 December and receiving shareholder approval on 27 January.
The AIM-traded company confirmed that the conditions of the sale and purchase agreement for the acquisition of Tailwind, from Tailwind Energy Holdings, had all been satisfied apart from the condition relating to the admission of the completion consideration shares.
Completion would take place immediately following admission of the shares.
"In connection with the acquisition, up to 111,048,124 new shares in Serica will be allotted and issued," the board said in its statement.
It said an application had been made to the London Stock Exchange for 108,170,426 consideration shares to be admitted to trading on AIM, which was expected to take place at 0800 GMT on or around 27 March.
"When issued, the consideration shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 10 US cents each in the capital of the company."
At 1516 GMT, shares in Serica Energy were up 3.37% at 214.5p.
Reporting by Josh White for Sharecast.com.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN