Ophir agrees to be bought by Indonesia's Medco for $511 million
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It is anticipated that the Acquisition will be implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.
The Acquisition values the entire issued and to be issued share capital of Ophir at approximately £390.6 million.
The Acquisition represents a premium of approximately:
- 65.7 per cent to the closing price of 33.20 pence per Ophir Share on 28 December 2018 (being the last Business Day before the announcement of Medco’s possible offer for Ophir);
- 61.2 per cent to the volume weighted average share price for the one-month period ended 28 December 2018 (being the last Business Day before the announcement of Medco’s possible offer for Ophir) of 34.13 pence per Ophir Share; and
- 43.3 per cent to the volume weighted average share price for the three-month period ended 28 December 2018 (being the last Business Day before the announcement of Medco’s possible offer for Ophir) of 38.38 pence per Ophir Share. ■