Following its announcement on 27 May 2011 regarding the offer to acquire the entire issued and to be issued share capital of Sagex Petroleum ASA (“Sagex” or the “Company”) (the “Offer”), Valiant Petroleum plc (“Valiant”) has extended the Offer until 17:30 (CET) on 10 June 2011.
All other conditions of the Offer remain unchanged.
Valiant’s board of directors is of the view that there is a compelling business rationale for the acquisition of Sagex and looks forward to working together with Sagex to reach completion of the transaction. Valiant strongly encourages Sagex’s shareholders to accept the Offer.
Arctic Securities are acting as financial advisers to Valiant in connection with the Offer.
Source:Valiant Petroleum , June 3, 2011