05:19:53 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Ithaca Energy Inc
Symbol IAE
Shares Issued 425,338,568
Close 2017-06-05 C$ 1.94
Market Cap C$ 825,156,822
Recent Sedar Documents

Ithaca offeror Delek completes compulsory acquisition

2017-06-05 16:37 ET - News Release

Ms. Nilly Richman of Delek reports

DELEK GROUP LTD. ACQUIRES REMAINING OUTSTANDING COMMON SHARES OF ITHACA ENERGY INC. PURSUANT TO A COMPULSORY ACQUISITION

Delek Group Ltd. and its wholly owned subsidiary DKL Investments Ltd. have completed the compulsory acquisition of all remaining, outstanding common shares of Ithaca Energy Inc. not previously owned by the offeror pursuant to Part 16 of the Business Corporations Act (Alberta) following its previously announced successful takeover bid.

Following the expiration of the offer, as extended on April 20, 2017, for the mandatory extension period, the offeror owned 400,852,265 common shares representing, on a non-diluted basis, approximately 94 per cent of the issued and outstanding common shares. The offeror acquired an additional 24,486,303 common shares pursuant to the compulsory acquisition representing, on a non-diluted basis, approximately 6 per cent of the issued and outstanding common shares, at a price of $1.95 per common share for an aggregate price of $47,748,290.85.

As a result of the compulsory acquisition, the offeror now owns all of the issued and outstanding common shares of Ithaca. Ithaca has applied to have the common shares delisted from the Toronto Stock Exchange and the Alternative Investment Market. The common shares will be delisted in accordance with the policies of the Toronto Stock Exchange and the AIM.

We seek Safe Harbor.

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