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C&C Energia Ltd Announces Shareholder Approval And Court Approval of Arrangement With Pacific Rubiales Energy Corp.

Saturday, 29 Dec 2012 12:41am EST 

C&C Energia Ltd announced that at a special meeting held today, the holders of common shares of C&C Energia approved the previously announced plan of arrangement (the Arrangement) involving C&C Energia, Pacific Rubiales Energy Corp. (Pacific Rubiales) and Platino Energy Corp. (Platino). C&C Energia also announced that it has obtained a final order from the Court of Queen's Bench of Alberta approving the Arrangement. The Arrangement involves the acquisition by Pacific Rubiales of all of the outstanding C&C Energia Shares. The C&C Energia Shareholders will receive, for each C&C Energia Share held, 0.3528 of a common share of Pacific Rubiales, cash consideration of Cdn. $0.001 and one common share of Platino. C&C Energia and Pacific Rubiales intend to proceed with the completion of the Arrangement on December 31, 2012. Following completion of the Arrangement, it is anticipated that the C&C Energia Shares will be delisted from the Toronto Stock Exchange on or about January 3, 2013. Provided that all of the listing conditions of the TSX Venture Exchange (TSX-V) are met, trading of the Platino Shares on the TSX-V under the symbol 'PZE' is expected to commence on or about January 4, 2013. 

Company Quote

-0.47 -2.40%
19 Sep 2014