Completion of Acquisition

Source Press Release
Company Medco Energi International tbk PTOphir Energy plc 
Tags Corporate Deals, Deals, Upstream Activities
Date May 21, 2019

Ophir, Medco Global and Medco are pleased to announce that the Scheme has now become effective and the entire issued ordinary share capital of Ophir is now owned by Medco Global.

Commenting on the Acquisition, Roberto Lorato, Director and Chief Executive Officer of Medco, said:

“We are pleased to announce the successful completion of Medco’s acquisition of Ophir, which brings together two complementary portfolios of assets and creates a leading regional oil and gas player in Southeast Asia with enhanced scale, diversification and opportunities for growth. We welcome our new colleagues and partners, and look forward to working together as Medco enters a new and exciting stage of its development.”

Delisting of Ophir

Ophir Shareholders on the register at the Scheme Record Time, being 6.00 p.m. on 21 May 2019, are entitled to receive 57.5 pence in cash for each Ophir Share (excluding any Excluded Shares).

An application has been made to the Financial Conduct Authority and the London Stock Exchange in relation to the cancellation of Ophir’s listing on the premium listing segment of the Official List and the trading of Ophir Shares on the London Stock Exchange’s Main Market, which is expected to take place by 8.00 a.m. on 22 May 2019.

Settlement

The cash consideration payable to Ophir Shareholders under the terms of the Scheme will be settled or despatched by no later than 4 June 2019.

Other

All references to times in this announcement are to London time, unless otherwise stated.

Defined terms used but not defined in this announcement have the meanings set out in the scheme document dated 1 March 2019 (the “Scheme Document”).

Enquiries:

Medco and Medco Global

Roberto Lorato / Tony Mathias / Sanjeev Bansal / Myrta Sri Utami  +62 21 2995 3000 

Standard Chartered Bank – Financial Adviser to Medco and Medco Global

Tom Willett / Kamal Khullar / Karan Soni Manny Chohhan / Alessandro Ceresa / James McKay Peel Hunt LLP – Broker to Medco and Medco Global Michael Nicholson / Richard Crichton / Charles Batten   +65 6876 0888 +44 (0) 20 7885 8888 +44 (0) 20 7418 8900 

Tulchan Communications – Public Relations Adviser to Medco and Medco Global

Martin Robinson / Martin Pengelley / Harry Cameron Angela Campbell-Noë / Chong Yap Tok  +44 (0) 20 7353 4200 +65 6222 3765 / +65 8200 5915 MedcoEnergi@tulchangroup.com 

Ophir

Alan Booth / Tony Rouse / Dato Sandroshvili / Geoff Callow  + 44 (0) 20 7811 2400 

Morgan Stanley – Lead Financial Adviser and Corporate Broker to Ophir

Andrew Foster / Shirav Patel / Mutlu Guner Lambert Energy Advisory – Financial Adviser to Ophir Philip Lambert / David Anderson   +44 (0) 20 7425 8000 +44 (0) 20 7491 4473 

Investec – Corporate Broker to Ophir

Chris Sim / Jonathan Wolf  +44 (0) 20 7597 4000 

Brunswick – Public Relations Adviser to Ophir

Patrick Handley  +44 (0) 20 7404 5959 

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd