Today: September 24, 2018, 6:57 pm
  
Business

Canadian Natural Resources Limited Announces Completion of the Offer to Acquire Laricina Energy Ltd

PR-Inside.com: 2018-09-14 11:00:01

CALGARY, Alberta, Sept. 14, 2018 (GLOBE NEWSWIRE) -- Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces that its offer (the “Offer”) to acquire all of the issued and outstanding common shares (the “Laricina Shares”) in the capital of Laricina Energy Ltd. (“Laricina”), as previously described in the Laricina press release dated July 26, 2018, has been accepted by holders of Laricina Shares representing 98.7% of the issued and outstanding Laricina Shares on a fully diluted basis.  Accordingly, the minimum tender requirement under applicable Canadian securities laws has been satisfied and all other conditions to the Offer have been satisfied.

Computershare Investor Services Inc. reported that as of 3:00 p.m. (Calgary time) on September 13, 2018, being the expiry time of the initial deposit period of the Offer, a total of 568,724,430 Laricina Shares (the “Tendered Shares”) were validly deposited under the Offer and not withdrawn. Canadian Natural has taken up and accepted for payment the Tendered Shares. An amount in the aggregate of $46,351,041.05 will be paid to the former holders of the Tendered Shares by no later than September 18, 2018.

In addition, the Offer is being extended for the mandatory extension period under applicable Canadian securities laws until 11:59 p.m. (Calgary time) on September 24, 2018 to allow those Laricina shareholders who have not yet tendered their Laricina Shares to the Offer an opportunity to do so. Canadian Natural will take up and pay for any Laricina Shares validly deposited to the Offer during the mandatory extension period within 10 calendar days after any such deposit.

After the mandatory extension period, Canadian Natural has agreed to acquire any remaining outstanding Laricina Shares pursuant to the compulsory acquisition provisions of the Business Corporations Act (Alberta).

Canadian Natural is a senior oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. portion of the North Sea and Offshore Africa.

For further information, please contact:

CANADIAN NATURAL RESOURCES LIMITED
2100, 855 - 2nd Street S.W. Calgary, Alberta, T2P4J8
Phone: 403-514-7777  Email: ir@cnrl.com
www.cnrl.com
 
STEVE W. LAUT
Executive Vice-Chairman

TIM S. MCKAY
President

COREY B. BIEBER
Chief Financial Officer and Senior Vice-President, Finance

MARK A. STAINTHORPE
Vice-President, Finance – Capital Markets

Trading Symbol - CNQ
Toronto Stock Exchange
New York Stock Exchange 





# 500 Words
Related Articles
More From The Author
Ferrari N.V. announces its Capital Markets Day
Maranello (Italy), [14] September 2018 – Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) announced today [..]
Sampo completes Saxo Bank deal
SAMPO PLC           STOCK EXCHANGE RELEASE      14 September 2018 at 11:00 am Sampo completes Saxo Bank deal Sampo [..]
DMA and Siemens Mobility’s New Solution Reduces [..]
DMA is pleased to announce its partnership with Siemens Mobility to combine DMA’s high-precision inspection solutions and [..]
Profit warning: SRV Group Plc lowers its [..]
SRV GROUP PLC     STOCK EXCHANGE RELEASE    14 SEPTEMBER 2018    11.00 AM   Profit warning: SRV Group Plc lowers its [..]
Zealand Pharma increases its share capital as [..]
Company announcement - No. 22 / 2018 Zealand Pharma increases its share capital as a consequence of exercise of employee [..]
 
More From Business
Hurricane Damages Creating Extraordinary Demand for Heavy [..]
The effects of Hurricane Florence have been wide and far reaching, with 37 deaths and billions of dollars in damages [..]
Over 2,900 Took Part in 'In Style [..]
HONG KONG, Sept 21, 2018 - (ACN Newswire) - Major events under the "In Style, Hong Kong" mega promotion in [..]
RetailEX ASEAN 2018 Returns Bigger and Better
Brand-new zones, content rich conferences and cutting-edge retail technology innovation and solutions featured during the three-day [..]
Singapore's Senior Minister of State for Trade [..]
SINGAPORE, Sept 21, 2018 - (ACN Newswire) - Asian Downstream Summit is the anchor oil and gas event during Singapore [..]
Vanwise and Carwise Group Scoop Dealer Award
Vanwise & Carwise Group has won the prestigious award by CarGurus as ‘Top Rated Dealer 2018’ ● Dealer scoops prestigious [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.