Press release from Marketwire
Results of Special Meeting of Shareholders to Approve Sale of UK Subsidiary
Friday, April 04, 2014
Results of Special Meeting of Shareholders to Approve Sale of UK Subsidiary19:36 EDT Friday, April 04, 2014
CALGARY, ALBERTA and LONDON, UNITED KINGDOM--(Marketwired - April 4, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.
Antrim Energy Inc. (TSX:AEN) (AIM:AEY) ("Antrim"), an international oil and gas exploration and production company, confirms that the resolution put to shareholders at Antrim's Special Meeting of Shareholders held on April 4, 2014 was duly passed.
The special resolution to approve a sale of Antrim's Causeway, Kerloch, and Cormorant East assets, structured as a sale of Antrim's subsidiary, Antrim Resources (N.I.) Limited, to First Oil Expro Limited (the "Transaction"), all as more particularly described in the information circular of Antrim dated February 24, 2014 (the "Information Circular") was approved by way of ballot (99.38% for and 0.62% against).
Completion of the Transaction is subject to receipt of all necessary regulatory approvals and other conditions precedent. If the requisite regulatory approvals are obtained and if all other conditions to the Transaction becoming effective are satisfied or waived, it is expected that the Transaction will become effective on or about April 15, 2014. Further information regarding the Transaction and its anticipated effects on Antrim are contained in the Information Circular which is available on www.sedar.com.
Antrim Energy Inc. is a Canadian, Calgary based junior oil and gas exploration and production company with assets in the UK North Sea and Ireland. Antrim is listed on the Toronto Stock Exchange (AEN) and on the London Stock Exchange's Alternative Investment Market (AEY). Visit www.antrimenergy.com for more information.
Forward-Looking and Cautionary Statements
This press release contains certain forward-looking statements and forward-looking information which are based on Antrim's internal reasonable expectations, estimates, projections, assumptions and beliefs as at the date of such statements or information. Forward-looking statements often, but not always, are identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "targeting", "forecast", "achieve" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements and information. Antrim believes that the expectations reflected in those forward-looking statements and information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements and information included in this press release and any documents incorporated by reference herein should not be unduly relied upon. Such forward-looking statements and information speak only as of the date of this press release or the particular document incorporated by reference herein and Antrim does not undertake any obligation to publicly update or revise any forward-looking statements or information, except as required by applicable laws.
In particular, this press release contains specific forward-looking statements and information pertaining to the timing and anticipated receipt of required regulatory approvals for the transaction; the ability of Antrim to satisfy the other conditions to, and to complete, the Transaction; and the closing of the Transaction.
In respect of the forward-looking information and statements concerning the anticipated benefits and completion of the proposed Transaction, Antrim has provided such in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the ability of Antrim to receive, in a timely manner, the necessary government, regulatory, and other third party approvals; the ability of Antrim to satisfy, in a timely manner, the other conditions to the closing of the Transaction; and expectations and assumptions concerning, among other things: commodity prices and interest; capital efficiencies and cost-savings; anticipated cash position of the Company following the Transaction; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the continued availability of capital at attractive prices to fund future capital requirements relating to existing or future assets and projects; the success of growth projects; future operating costs and the availability and cost of drilling services. In respect to these assumptions, the reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Accordingly, readers should not place undue reliance on the forward-looking information and statements contained in this press release.
Risks and uncertainties inherent in the nature of the Transaction include the failure of Antrim to obtain necessary government, regulatory, and other third party approvals, or to otherwise satisfy the conditions to the Transaction, in a timely manner, or at all. Failure to so obtain such approvals, or the failure of Antrim to otherwise satisfy the conditions to the Transaction, may result in the Transaction not being completed on the proposed terms, or at all.
FOR FURTHER INFORMATION PLEASE CONTACT:
Antrim Energy Inc.
President & CEO
+ 1 403 264-5111
Antrim Energy Inc.
Chief Financial Officer
+ 1 403 264-5111
RFC Ambrian Limited
+44 (0) 20 3440 6800
Tim Thompson/Tom Hufton
+44 (0) 20 7466 5000