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GEM Capital extends takeover offer for Volga Gas; receives 88.4% of acceptances
StockMarketWire.com
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GEM Capital said it had received acceptances for its offer to acquire Volga Gas from shareholders who represent about 88.4% of the latter's total shares.
The company also said its offer, had now been extended and would remain open for acceptance until the next closing date, which would be 1.00 p.m. London time on 18 January 2021.
Under the terms of the Offer, Volga Gas shareholders were entitled to receive, for each Volga Gas Share held, 23.71 pence in cash.
'Volga Gas shareholders who have not yet accepted the offer are urged to do so as soon as possible and, in any event, by no later than 1.00 p.m. (London time) on 18 January 2021,' the company said.
At 8:56am:
(LON:GEM) Gemfields PLC share price was 0p at 6.25p
(LON:VGAS) Volga Gas PLC share price was 0p at 24.5p
Story provided by StockMarketWire.com
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