HAMILTON, Bermuda, Dec. 18, 2020 (GLOBE NEWSWIRE) — TransAtlantic Petroleum Ltd. (TSX: TNP) (NYSE American: TAT) (the “Company” or “TransAtlantic”) at the moment introduced that the Firm’s shareholders have authorised the Settlement and Plan of Merger (the “Merger Agreement”), by and among the many Firm, TAT Holdco LLC, a Texas restricted legal responsibility firm (“Parent”), and TAT Merger Sub LLC, a Texas restricted legal responsibility firm and wholly-owned subsidiary of Father or mother (“Merger Sub”). Below the Merger Settlement and the Firms Act 1981 of Bermuda (the “Companies Act”), the approval and adoption of the merger proposal required the affirmative vote of 75% of the votes solid by holders of widespread shares as of the shut of enterprise on the report date at a duly convened assembly of the widespread shareholders of the Firm at which a quorum is current. On the assembly, the holders of 56,984,007 Frequent Shares have been represented in particular person or by proxy, constituting a quorum. Remaining vote totals point out that 99.10% of the full votes solid have been in favor of the Merger. Of the votes solid by shareholders not affiliated with the Buying Group, 86.60% have been solid in favor of the Merger.
Pursuant to the Merger Settlement, Firm has merged with and into Merger Sub and every of the Firm’s issued and excellent widespread shares, par value $0.10 per share (“Common Shares”), (apart from the Excluded Shares (as outlined within the Merger Settlement)) was canceled and was transformed mechanically into the fitting to obtain $0.13 in cash.
The Firm closed the transactions contemplated by the Merger Settlement efficient at 12:01 am Central Time on December 18, 2020 and the Firm’s Frequent Shares have been suspended from buying and selling on the NYSE American efficient as of the opening of buying and selling on December 18, 2020. The Firm expects to be delisted from the NYSE American and Toronto Stock Trade as quickly as practicable.
The Firm is a world oil and pure gasoline firm engaged within the acquisition, exploration, growth, and manufacturing of oil and pure gasoline. The Firm holds pursuits in developed and undeveloped properties in Turkey and Bulgaria.
(NO STOCK EXCHANGE, SECURITIES COMMISSION, OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.)
Sure statements on this press launch represent “forward-looking statements” underneath the federal securities legal guidelines. These forward-looking statements are supposed to be lined by the protected harbors created by the Personal Securities Litigation Reform Act of 1995. The statements on this report communicate solely as of the date of hereof, and the Firm undertakes no obligation to replace or revise any forward-looking assertion, whether or not because of new info, future developments, or in any other case, besides as may be required by legislation.
TransAtlantic Petroleum Ltd.
16803 Dallas Parkway
Addison, Texas 75001