13th Oct 2005 15:34
LukOil (OAO)13 October 2005 LUKOIL OVERSEAS ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE NELSON RESOURCESLIMITED OF BERMUDA FOR US 2.0 BILLION LUKOIL Overseas announces that it has entered into an agreement to amalgamatewith Nelson Resources Limited of Bermuda whereby The Board of Directors ofNelson Resources Limited will recommend that its shareholders vote in favor ofamalgamation at a general shareholders meeting to be held in late November 2005. If the amalgamation is approved by 75% of votes cast at the general shareholdersmeeting, LUKOIL Overseas will acquire 100% of the fully diluted common shares ofNelson Resources Limited for US 2.0 billion dollars. Furthermore, in accordance with irrevocable agreements concluded withshareholders of Nelson Resources Limited holding in aggregate approximately 66%of the outstanding shares of the company, LUKOIL Overseas intends to purchasethese shares at the offer price. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
NLG.L