6th Dec 2005 07:44
LukOil (OAO)06 December 2005 LUKOIL OVERSEAS COMPLETES ACQUISITION OF NELSON RESOURCES LIMITED LUKOIL Overseas Holding Ltd. (LUKOIL) is pleased to announce that the requisiteconditions precedent, including shareholder approval and Kazakhstan governmentalapprovals, have been obtained and that the acquisition of Nelson ResourcesLimited (Nelson) has been completed. The Registrar of Corporate Affairs of the British Virgin Islands has approvedthe merger of Nelson Resources Limited, a Bermuda company, with and into CaspianInvestments Resources Limited (Caspian), a wholly owned subsidiary of LUKOIL. As a result of the merger, Caspian as the surviving company has become the ownerof all the rights and property of Nelson. In addition, all shares of Nelson havebeen cancelled and, in lieu thereof, all holders of Nelson shares (NelsonShareholders) are entitled to receive a cash payment of US$ 2.19162 per Nelsonshare upon settlement. As the sole owner, LUKOIL has assumed full management control over Nelson'sassets and projects, which include projects for production of hydrocarbons inthe Western part of the Republic of Kazakhstan in the Alibekmola, Kozhasai,Karakuduk, North Buzachi and Arman fields, and options to acquire twoexploration blocks in the Kazakhstani sector of the Caspian Sea - Zhambai Southand South Zaburunie. Computershare Investors Service Inc., as depositary for the transaction, willcommence making payments by December 8, 2005, to Nelson Shareholders who havedelivered all required documents in accordance with the instructions containedin the Management Information Circular of Nelson dated October 28, 2005. Paymentwill be forwarded to all other Nelson shareholders three business days afterthey have delivered the required documentation in compliance with thoseinstructions. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
NLG.L