Eurasia Drilling leaves London Stock Exchange
MOSCOW. Nov 18 (Interfax) - The shares of Eurasia Drilling Company (in the form of GDR) stopped trading on the London Stock Exchange (LSE) on November 18, the company is no longer public.
EDC said in a statement that on November 16, the Cayman Islands Registrar of Companies registered the plan of merger in respect of the merger between the company and EDC Acquisition Company Limited (EACL), a company formed by one of the significant shareholders of the company solely for the purposes of the merger, and issued a certificate of merger, whereupon the merger became effective.
The Bank of New York Mellon, as depositary for the GDR program, will call for the surrender of all outstanding global depositary receipts (GDRs) and is expected to pay the merger consideration received from the company to GDR holders on or around Friday, 20 November, 2015.
The shareholders of Eurasia Drilling on November 13 approved the scheme of a deal which envisages the merger of the company with EACL. The decision to make the company private was made by the major shareholders after the unsuccessful deal on its sale to Schlumberger.
Shares are being bought from minority shareholders at $11.75 per share.
