February 14, 2011 by staff 

Regal, Regal Petroleum (LON: RPT) saga recovery seems to be ending, as the investment vehicles of Ukraine Victor Pinchuk business said they would not bid for the group. In mid-January Pinchuk had approached Regal with alternative proposals to buy the company instead of 24 pence per share recommended bid Energees management. Pinchuk, formed by Cyrus Heamoor vehicles and Geo-Alliance, said he was ready to Energees-bid, cost around 25 pence per share Regal by two alternative proposals. Monday, Energees raised its bid for Regal 14 pence per share to 38 pence, valuing the exploration of gas in Ukraine-focused production company around 122 million pounds. The royal council recommends the agreement.

Under the terms of the last transaction, Energees, which owns the Smart Group Holdings, will acquire 224.5 million shares of Regal, the equivalent of 70 percent of capital of Regal.

The partial bid structure allows investors who do not want to take advantage of their shares to keep a stake in society.

As mentioned earlier, in mid-January 2011, the company Heamoor Limited (Cyprus) and Geo Alliance, controlled by Viktor Pinchuk Ukrainian businessman, has proposed an agreement to exchange shares of Regal Petroleum plc and the acquisition of all shares at 25 pence per share. Terms of the proposed transaction include, inter alia, issuing additional shares up to 70% in Regal Petroleum and cons exchange 100% of Alliance Geo. The current owners of Regal Petroleum will receive the opportunity to sell his shares Heamoor Limited at a price of 25 pence for three months after the completion of the transaction.

An alternative is to purchase all outstanding shares of Regal Petroleum at a price of 25 pence per share.

Help: Regal Petroleum is developing Mehedovsko-Golotovschinskoe Sviridov and gas condensate fields (Dnieper-Donets Basin, Lokhvitskiy region, Poltava region). The company also owns the treatment plant gas and gas condensate production capacity of 700,000 cubic meters of gas and 200 cubic meters of gas per day of condensate and 13.2 km of pipeline length and diameter of 325 mm, connecting the plant with an export pipeline capacity of 1.5 million cubic meters per day.

In mid-January 2011 MAC has given permission to the limited company management Energees (Cyprus enters the “Smart Operations”) to purchase shares of Regal Petroleum to ensure an excess of 50% of votes in the supreme body.

02/07/1911 Mr. Energees Management Limited has made a new offer to purchase shares of Regal Petroleum. Energees management prepared by the RTO to acquire 70% stake in Regal Petroleum (224,446,485 shares) at a price of 38 pence per share (previously – 24 pence). The total transaction valued at GBP85.3 million for a 70% stake. For details, see “Energobusiness-new” No. 22 dated 08/02/1911,

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