Temporary Suspension
03 Juni 2009 - 3:07PM
UK Regulatory
TIDMHOIL
RNS Number : 3029T
Heritage Oil Limited
03 June 2009
3 June 2009
Heritage Oil Limited ("Heritage" or the "Company")
Statement re: share price movement
Heritage Oil Limited ("Heritage" or the "Company") notes the recent movement in
the Company's share price. The Company confirms that it is in preliminary
discussions with a third party regarding a possible merger which would be
treated as a reverse takeover under the Listing Rules of the UK Listing
Authority if completed. No agreement has been reached between the third party
and the Company and there can be no assurances that any agreement will be
reached or even if reached, that any such agreement will be completed.
At the request of the Company, trading on the Main Market of the London Stock
Exchange will be temporarily suspended pending an update with further
information on this possible transaction which the Company shall provide in due
course.
In accordance with Rule 2.10 of the Takeover Code (the 'Code'), Heritage
confirms that, as at 31 May 2009, it has 257,062,088 ordinary shares and
3,024,108 exchangeable shares of no par value in issue and admitted to trading
on the London Stock Exchange under the UK ISIN code JE00B2Q4TN56 and
CA4269283053.
For further information please contact:
Heritage Oil Limited
Tony Buckingham / Paul Atherton
Tel: +44 1534 835 400
Email: info@heritageoilltd.com
Financial Adviser
J.P. Morgan Cazenove Limited
Ian Hannam / Barry Weir
Tel: +44 (0) 20 7588 2828
Investor Relations / PR - Europe
Bell Pottinger Corporate & Financial
Nick Lambert
Tel: +44 (0) 20 7861 3232
Canada
CHF Investor Relations
Cathy Hume / Lindsay Carpenter
+1 416 868
1079 x231 / x239
cathy@chfir.com / lindsay@chfir.com
JPMorgan Cazenove Limited ('JPMorgan Cazenove'), which is authorised
and regulated in the United Kingdom by the Financial Services Authority, is
acting for Heritage and no-one else in connection with this announcement and
will not be responsible to anyone other than Heritage for providing the
protections afforded to its clients or for providing advice in relation to the
contents of this announcement, or for any other transaction, arrangement or
matters referred to in this announcement.
Dealing disclosure requirements
Under the provisions of Rule 8.3 of the Takeover Code, if any person is, or
becomes, 'interested' (directly or indirectly) in 1% or more of any class of
'relevant securities' of Heritage, all 'dealings' in any 'relevant securities'
of Heritage (including by means of an option in respect of, or a derivative
referenced to, any such 'relevant securities') must be publicly disclosed by no
later than 3.30 pm (London time) on the London business day following the date
of the relevant transaction. This requirement will continue until the date on
which any offer becomes, or is declared, unconditional as to acceptances, lapses
or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two
or more persons act together pursuant to an agreement or understanding, whether
formal or informal, to acquire an 'interest' in 'relevant securities' of
Heritage, they will be deemed to be a single person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Takeover Code, all 'dealings' in
'relevant securities' of Heritage by any potential offeror or Heritage, or by
any of their respective 'associates', must be disclosed by no later than 12.00
noon (London time) on the London business day following the date of the relevant
transaction.
A disclosure table, giving details of the companies in whose 'relevant
securities' 'dealings' should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.
'Interests in securities' arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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