ROC and AEL Merger

RNS Number : 1765A

Roc Oil Company Limited

30 July 2008

 



30 July 2008

ROC AND AEL MERGER

Court Convenes Scheme Meeting

Independent Expert finds Merger Fair and Reasonable

On 16 June 2008 Roc Oil Company Limited ('ROC') and Anzon Energy Limited ('AEL') announced their intention to merge by way of scheme of arrangement ('Merger').

The Federal Court of Australia has today ordered the convening of a meeting of shareholders of AEL ('Scheme Meeting') to enable a vote to be taken on the proposed Merger. The Scheme Meeting will be held at 10am (AEST) on 3 September 2008 at Corrs Chambers Westgarth, Level 32, Governor Phillip Tower, 1 Farrer Place, Sydney, Australia.

Deloitte Corporate Finance Pty Limited, who were commissioned by AEL to prepare an independent expert's report on the Merger, have concluded that the Merger is fair and reasonable and therefore in the best interests of AEL shareholders.

The Boards of each of ROC and AEL have unanimously agreed to pursue the Merger. The AEL Board has unanimously recommended that AEL shareholders vote in favour of the resolution to approve the Merger at the Scheme Meeting, in the absence of a superior proposal.  

Full details of the Merger, including how to vote on the resolution and a full copy of the independent expert's concise report, are included in the Scheme Booklet and Notice of Meeting which will be posted to all AEL shareholders next week. The Scheme Booklet and Notice of Meeting will be announced to AIM and will be available on both the ROC and AEL websites later this week. 

If you have any questions in relation to the Merger, please call the Information Line between 9:00am to 5:00pm (AEST) Monday to Friday on 1300 309 234 (within Australia), or 0800 450 974 (within New Zealand), or [phone] outside Australia and New Zealand.

FOR FURTHER INFORMATION PLEASE CONTACT:

Mr Bruce Clement Acting Chief Executive Officer Roc Oil Company Limited Telephone: [phone] Website:  www.rocoil.com.au Level 14, 1 Market Street Sydney  NSW 2000 ROC Financial Adviser Bruce McLennan Managing Director Gresham Advisory Partners Telephone: [phone] ROC Nominated Adviser &  UK Corporate Broker Michael Shaw Partner Oriel Securities Limited Telephone: + 44 20 7710 7600

Mr Andrew Young Managing Director Anzon Energy Limited Telephone: [phone] Website:  www.anzonenergy.com Level 13, 90 Arthur Street North Sydney  NSW 2060 AEL Financial Adviser Robert Sennitt Division Director Macquarie Capital Advisers Telephone: [phone] AEL Nominated Adviser Fiona Owen Partner Grant Thornton UK LLP Telephone: + 44 20 7383 5100

 

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