The following release was posted on Vitol's web site today:
Trading Market.com
Arawak shares cease trading on London Stock Exchange
Fri. April 24, 2009; Posted: 02:00 AM
ST. HELIER, Jersey, Apr 24, 2009 (
Arawak Energy Limited ("Arawak" or the "Company") announces that following the successful offer by Rosco
On 8 April 2009, Rosco announced that it held approximately 96.91% of Arawak's total issued common share capital following its recommended and increased cash offer (the "Offer") of C$1.00 per Arawak share at the end of January 2009. Rosco, a subsidiary of the Vitol group of companies, has declared its Offer wholly unconditional and has commenced proceedings to compulsorily acquire all the remaining outstanding shares related to the Offer. Arawak shares were delisted from trading on the Toronto Stock Exchange on 14 April 2009.
Arawak also announces that executive Directors Alastair McBain and Shahveer Kapadia and non-executive Directors James Coleman, Nicholas Clayton and Alan Duncan have stepped down from the Board. Arawak's new Board comprises David Fransen, Roland Favre and Jacques Sterken, nominees of the Vitol group of companies.
All documentation related to the Offer can be found on www.arawakenergy.com or on www.sedar.com.
Notes to editors
Arawak is engaged in the exploration, development and production of oil and natural gas in
For a detailed description of Arawak's business and the risks and uncertainties facing the Company, readers should refer to Arawak's Annual Information Form for the year ended 31 December 2008 and dated 30 March 2009 as filed at www.sedar.com.
SOURCE: Arawak Energy Limited
Arawak Energy Limited, Tel: +44 (0) 20 7973 4285, Tanya Pang, Head of Investor
Relations, Fax: +44 (0) 20 7824 8466, E-mail: info@arawakenergy.com, Web:
www.arawakenergy.com; Brunswick Group LLP, Tel: +44 (0)20 7404 5959, Patrick Handley;
J.P. Morgan Cazenove Limited, Tel: +44 (0)20 7588 2828, Steve Baldwin, Neil Haycock;
Oriel Securities Limited, Tel: +44 (0)20 7710 7600, Richard Crawley, Natalie
Fortescue
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