Key Developments: Foraco International SA (FRACF.PK)
0.99USD
9 May 2013
$-0.01 (-1.12%)
$1.00
$0.99
$0.99
$0.99
15,500
16,562
$4.31
$0.97
Latest Key Developments (Source: Significant Developments)
Foraco International SA Declares Dividend
Foraco International SA announced that it has declared a dividend of CAD0.055 per common share to the holders of common shares at the record date of May 29, 2013. The dividend will be paid on June 15, 2013. Full Article
Foraco International SA Closes Acquisition Of WFS Sondagem LTDA
Foraco International SA announced the acquisition of 51% of Brazilian mineral drilling services company WFS Sondagem LTDA, (Servitec) under the conditions previously disclosed on March 2, 2012, for an amount of approximately USD43 million through a combination of cash and Foraco shares. Full Article
Foraco International S.A. Announces Dividend
Foraco International S.A. announced that the Board of Directors proposed a dividend payment of EUR0.053 per common share to be approved by shareholders at the Company's Annual General Meeting on April 16, 2012. Full Article
Foraco International S.A. Enters Into A Binding Agreement To Acquire Servitec A Drilling Contractor In Brazil Through A Two-Step Acquisition
Foraco International S.A. announced it has entered into a binding agreement to acquire WFS Sondagem LTDA, (Servitec). Servitec is a mineral drilling company in Brazil and has provided diamond and reverse circulation drilling services. Headquartered in Crixas, Goias State and privately owned, Servitec has activities in all of the main mining states of Brazil: Minas Gerais, Goias, Para and Mato Grosso. The first step of the proposed transaction will be the acquisition of a 51% controlling interest in Servitec, in consideration for Cash consideration of R$ 35.65 million or approximately USD20.6 million, upon closing, 4,816,509 shares of Foraco, out of which 1,300,000 shares are currently held by Foraco, which were acquired by Foraco on the open market under the Company's previously announced Normal Course Issuer Bids, and the balance of the shares will be through the issuance of new shares The closing of the transaction is scheduled to take place in April 2012 and is subject to the completion of certain conditions precedent, including approval of the Toronto Stock Exchange and shareholder approval of Foraco at a meeting of its shareholders scheduled to be held in April 2012. The parties have a call and a put option to transfer the remaining 49% of Servitec's share capital. This second step of the transaction is due to take place in 2015. Servitec's current shareholders and managers will continue managing and developing Servitec. Full Article
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