1st Dec 2009 08:37
Dragon Oil plc ("Dragon Oil")
RiskMetrics Recommends Shareholders Vote in
favour of Scheme of Arrangement
The Independent Committee of Dragon Oil notes that RiskMetrics Group, the world's leading independent proxy advisory firm, has published a report recommending that minority shareholders of Dragon Oil vote in line with the Independent Committee's recommendation and vote for the resolutions being put before the Extraordinary General Meeting and the Court Meeting on 11 December 2009.
RiskMetrics concluded in its report that "Based on comparable transactions, the historical valuation of Dragon Oil versus its peers, the premium to the then prevailing market price and the fact that this is a minority buyout, we find that 455p per share is a reasonable offer. We recommend that shareholders vote for the acquisition"
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Enquiries: |
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Financial Advisers to Dragon Oil Davy Corporate Finance Hugh McCutcheon John Frain |
Tel +353 1 679 6363 |
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HSBC Bank plc Philip Wolfe Abbas Merali |
Tel +44 207 992 2216 +44 207 992 2279 |
The Independent Directors accept responsibility for the recommendation of the Acquisition and associated opinions contained in this document. To the best of the knowledge and belief of the Independent Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this document for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.
Any person, who has an interest of one per cent. or more of Dragon Oil Shares may have disclosure obligations under Rule 8.3 of the Irish Takeover Rules, effective from the date of the commencement of the Offer Period.
Related Shares:
DGO.L