Columbus Energy Res (CERP.L) Proposed Merger with Bahamas Petroleum Company plc

Columbus, the oil and gas producer and explorer focused on onshore Trinidad and Suriname, is pleased to note that in connection with the proposed merger with Bahamas Petroleum Company plc, the shareholder resolutions proposed at today’s Court Meeting and Columbus General Meeting have both been duly passed, by way of poll, with the requisite majorities.

A summary of the voting results is set out below.

Court Meeting

At the Court Meeting, a majority in number of the Scheme Shareholders who voted and who together represented over 75 per cent. in value of the Scheme Shares held by those Scheme Shareholders, voted in favour of the resolution to approve the Scheme. Details of the votes cast by Scheme Shareholders are as follows:

The total number of Columbus Shares in issue at the Scheme Voting Record Time was 935,053,344 ordinary shares of 0.05p each and accordingly, the total voting rights in Columbus as at the Scheme Voting Record Time were 935,053,344.

Columbus General Meeting

Details of the votes cast by Columbus Shareholders on the special resolution to implement the Scheme and approve associated amendments to the Columbus Articles are as follows:

* A vote withheld is not a vote in law and was not counted in the calculation of the proportion of votes cast either “For” or “Against” the special resolution.

The outcome of today’s Court Meeting and General Meeting means that Conditions 2.1(a) and 2.1(b) (as set out in Part III of the Scheme Document) have been satisfied. Completion of the Merger remains subject to the satisfaction or, if applicable, waiver of the other Conditions set out in Part III of the Scheme Document, the Court sanctioning the Scheme at the Court Hearing and the delivery of the Court Order to the Registrar of Companies.

The expected timetable of principal events for the implementation of the Scheme remains as set out on page 13 of the Scheme Document. If any of these dates and/or times change, a further announcement will be made.

Defined terms used but not defined in this announcement have the meaning given to them in the Scheme Document, a copy of which, is available on the Columbus website at

Leo Koot, Executive Chairman of Columbus, commented:

“I would like to thank our shareholders for their support in passing the resolutions to approve and implement the merger with Bahamas Petroleum Company plc (“BPC”). After the similar approval last week by the shareholders of BPC, we will now focus on the remaining Conditions to be satisfied prior to the Court Hearing (planned for 5 August 2020) to sanction the merger. We will update our shareholders as soon as we have any further information in this regard.”

Unless otherwise defined, all capitalised terms in this announcement shall have the meaning given to them in the Scheme Document.

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Weekly Newsletter

Sign up to receive exclusive stock market content in your inbox, once a week.

We don’t spam! Read our privacy policy for more info.