AURELIAN OIL & GAS PLC 
By On 12 November 2012, the Boards of San Leon and Aurelian announced that they had reached agreement on the terms of a recommended merger pursuant to which San Leon will acquire the entire issued and to be issued share capital of Aurelian (the "Merger"). The Merger is to be implemented by means of a Court sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme").
The Board of Aurelian is pleased to announce that the circular relating to the Scheme (the "Scheme Document") is being printed and will be sent to Aurelian Shareholders tomorrow. The Scheme Document sets out, amongst other things, details of the recommended Merger, the full terms and conditions of the Scheme, an explanatory statement, notices of the required Meetings, a timetable of principal events and details of the action to be taken by Aurelian Shareholders. As described in the Scheme Document, the Scheme will require the approval of Aurelian Shareholders at the Court Meeting and the passing of a special resolution at the General Meeting, and then the sanction of the Court.
The Scheme Document will also be available, subject to certain restrictions, on the Aurelian website (www.aurelianoil.com) and the San Leon website (www.sanleonenergy.com) up to and including the date on which the Scheme becomes effective.
The Court Meeting and the General Meeting to approve the Scheme are scheduled to be held at
10.00 a.m. and 10.15 a.m. respectively on 21 December 2012 at the Institute of Directors, 116 Pall
Mall, London SW1Y 5ED.
Subject to approval of the relevant Meetings, Court approval and the satisfaction or waiver of the other Conditions set out in the Scheme Document, the Scheme is expected to become effective on or around 25 January 2013.
The expected timetable of principal events is set out below:
Event | Time and/or date |
Latest time for lodging BLUE Forms of Proxy for the Court Meeting | 10.00 a.m. on 19 December 2012 |
Latest time for lodging WHITE Forms of Proxy for the General Meeting | 10.15 a.m. on 19 December 2012 |
Voting Record Time for Court Meeting and General Meeting | 6.00 p.m. on 19 December 2012 |
Court Meeting | 10.00 a.m. on 21 December 2012 |
General Meeting | 10.15 a.m. on 21 December 2012 |
Scheme Record Time | 6.00 p.m. on 23 January 2013 |
Suspension of trading in Aurelian Shares and disablement of Aurelian Shares in CREST | 7.30 a.m. on 24 January 2013 |
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Court Hearing | 24 January 2013 |
Effective Time and cancellation of trading in Aurelian Shares | 7.00 a.m. on 25 January 2013 |
Admission to and commencement of trading on AIM of New San Leon Shares and CREST accounts credited in respect of New San Leon Shares | 8 a.m. on 25 January 2013 |
Posting of certificates for New San Leon Shares in certificated form | no later than 8 February 2013 |
Latest date for Scheme to become effective | 30 June 2013 |
Defined terms used but not defined in this announcement have the meanings set out in the
Scheme Document.
For further information please contact:San Leon Energy plc | +353 1291 6292 020 36173913 |
Oisin Fanning | |
John Buggenhagen | |
Fox-Davies Capital Limited (financial adviser and joint broker to San Leon) | 020 3463 5000 |
Susan Walker Daniel Fox-Davies | |
College Hill (public relations adviser to San Leon) | 020 7457 2020 |
Rupert Trefgarne | |
Alexandra Roper | |
Plunkett PR (public relations adviser to San Leon in Republic of Ireland) | +353 1 2844414 |
Sharon Plunkett | |
Aurelian Oil and Gas PLC | |
Rowen Bainbridge, CEO | 020 7629 7986 |
Greenhill & Co. International LLP (joint financial and Rule 3 adviser to Aurelian) | 020 7198 7400 |
Mark Bentley | |
Anastasia Fadeeva | |
Oriel Securities Limited (joint financial adviser and broker to Aurelian) | 020 7710 7600 |
David Arch | |
James Brodie |
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RFC Ambrian Limited (nominated adviser to Aurelian) | 020 3440 6800 |
Richard Morrison | |
College Hill (public relations adviser to Aurelian) | 020 7457 2020 |
Matthew Tyler | |
Catherine Wickman |
Further information
This announcement is not intended to and does not constitute, or form part of, any offer to sell or subscribe for or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Merger or otherwise, nor shall there be any sale, issuance or transfer of securities of Aurelian and/or San Leon in any jurisdiction in contravention of applicable law. This announcement does not constitute a prospectus or a prospectus equivalent document.
Fox-Davies Capital Limited which is authorised and regulated in the United Kingdom by the FSA, is acting for San Leon as financial adviser in relation to the Merger and is not acting for any other person in relation to such Merger. Fox-Davies Capital Limited will not be responsible to anyone other than San Leon for providing the protections afforded to clients of Fox-Davies Capital Limited or for providing advice in relation to this announcement or any other matter referred to herein.
Greenhill & Co. International LLP which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for Aurelian and no-one else in connection with the Merger and will not be responsible to anyone other than Aurelian for providing the protections afforded to clients of Greenhill & Co. International LLP nor for providing advice in relation to the Merger or any other matter referred to herein.
Oriel Securities Limited which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for Aurelian and no-one else in connection with the Merger and will not be responsible to anyone other than Aurelian for providing the protections afforded to clients of Oriel Securities Limited nor for providing advice in relation to the Merger or any other matter referred to herein.
All references to time in this announcement are to London time. The dates in this announcement are indicative only. These dates depend, amongst other things, on the date upon which the Court sanctions the Scheme, the date on which the Court Order is delivered to the Registrar of Companies and whether the Conditions are satisfied or, if capable of waiver, waived. Further announcements will be made in due course.
Aurelian Shareholders may request a hard copy of this announcement by contacting Aurelian's
Registrars, Computershare, during business hours on 0870 707 1507 (from within the UK) or +44
870 707 1507 (from outside the UK) or by submitting a request in writing to Aurelian's Registrars, Computershare, at The Pavilions, Bridgwater Road, Bristol, BS99 6ZY. Aurelian Shareholders may also request that all future documents, announcements and information to be sent to you in relation to the Merger are in hard copy form.
The availability of New San Leon Shares in, and the release, publication or distribution of this announcement in or into, jurisdictions other than the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes who are not resident in the United Kingdom should inform themselves about, and observe, any applicable restrictions. Aurelian Shareholders who are in any doubt regarding such matters should consult an appropriate independent adviser in the relevant jurisdiction without delay. Any failure to comply with such restrictions may constitute a violation of the securities laws of any such jurisdiction.
This announcement has been prepared for the purposes of complying with English law, the City Code and the AIM Rules and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.
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Shareholders in the United States should note that the acquisition of Aurelian by San Leon relates to the shares of a "foreign private issuer" as defined under Rule 3b-4 under the US Securities Exchange Act of 1934, as amended (the "Exchange Act") and is proposed to be made by means of a scheme of arrangement provided for under, and governed by, English law. Neither the proxy solicitation nor the tender offer rules under the Exchange Act will apply to the Scheme. Moreover, the Scheme will be subject to the disclosure requirements and practices applicable in the UK to schemes of arrangement, which differ from the disclosure requirements of the US proxy solicitation rules and tender offer rules. Financial information included in this announcement has been or will be prepared in accordance with accounting standards applicable in the UK and may not be comparable to financial information of US companies or companies whose financial statements are prepared in accordance with generally accepted accounting principles in the United States.
Aurelian is organised under the laws of England and San Leon is organised under the laws of Ireland. To the extent that Aurelian's and San Leon's officers and directors are residents of countries other than the United States it may not be possible to effect service of process on Aurelian, San Leon, or their respective officers or directors in a non-US court for violations of US securities laws. It may be difficult to compel Aurelian, San Leon, their respective affiliates, and/or the respective officers or directors of each, to subject themselves to the jurisdiction and judgment of any US court.
The New San Leon Shares to be issued pursuant to the Scheme have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act") or under the relevant securities laws of any state or territory or other jurisdiction of the United States. Accordingly, the New San Leon Shares may not be offered, sold, resold, delivered, distributed or otherwise transferred, directly or indirectly, in or into the United States, or to or for the account or benefit of any US Person, absent registration under the US Securities Act or an exemption therefrom. The New San Leon Shares are expected to be offered in the United States, if at all, in reliance upon the exemption from the registration requirements of the US Securities Act provided by Section 3(a)(10) thereof. None of the securities referred to in this document have been approved or disapproved by the US Securities and Exchange Commission, any state securities commission in the United States or any other US regulatory authority, nor have such authorities passed upon or determined the adequacy or accuracy of this document. Any representation to the contrary is a criminal offence in the United States. This document does not constitute an offer to sell, or the solicitation of any offer to buy, any New San Leon Shares in any jurisdiction in which such an offer or solicitation would be unlawful.
The New San Leon Shares to be issued pursuant to the Scheme have not been and will not be registered under the relevant securities laws of Japan and the relevant clearances have not been, and will not be, obtained from the securities commission of any province of Canada or Australia. Accordingly, the New San Leon Shares are not being, and may not be, offered, sold, resold, delivered or distributed, directly or indirectly in or into Canada, Australia or Japan or any other jurisdiction if to do so would constitute a violation of relevant laws of, or require registration thereof in, such jurisdiction (except pursuant to an exemption, if available, from any applicable registration requirements or otherwise in compliance with all applicable laws). No prospectus in relation to the New San Leon Shares has been, or will be, lodged with, or registered by, the Australian Securities and Investments Commission.
A copy of this announcement will be available subject to certain restrictions relating to persons resident in Restricted Jurisdictions on www.sanleonenergy.comand www.aurelianoil.com. The content of the websites referred to in this announcement are not incorporated into and do not form part of this announcement.
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