Gran Tierra Energy Inc. Updates on i3 Energy Acquisition
Update on Regulatory Conditions for Acquisition of i3 Energy Plc
Recommended And Final Cash And Share Acquisition
of
i3 Energy Plc ("i3 Energy")
by
Gran Tierra Energy Inc. ("Gran Tierra")
to be effected by means of a scheme of arrangement
under Part 26 of the Companies Act 2006.
Gran Tierra Energy Inc. and i3 Energy are excited to announce recent developments regarding the acquisition process. On August 19, 2024, the boards of directors of i3 Energy and Gran Tierra publicly discussed their agreement on the terms of a recommended and final cash and share offer for the complete issued share capital of i3 Energy. This acquisition is anticipated to be enacted through a Court-sanctioned scheme of arrangement involving i3 Energy and its shareholders.
A significant milestone has been achieved as Gran Tierra has obtained the advance ruling certificate for the acquisition under the Competition Act (Canada). This advancement satisfies one of the key conditions outlined in Appendix 1 of the official announcement regarding the acquisition.
Despite this positive development, the acquisition remains subject to a variety of other conditions. These include the approval of the scheme by i3 Energy shareholders, court sanctioning of the scheme, and the fulfillment of specific regulatory conditions regarding minority shareholder protections and approvals from the Toronto Stock Exchange (TSX).
The comprehensive terms and conditions of this acquisition will be outlined in a Scheme Document, which, along with proxy forms and election papers, is set to be published within 28 days following the announcement unless otherwise agreed upon by Gran Tierra and i3 Energy with the consent of the regulatory panel.
Enquiries
Gran Tierra Energy Inc.
Contact: Gary Guidry, Ryan Ellson
Phone: +1 (403) 265 3221
i3 Energy Plc
Contact: Majid Shafiq (CEO)
Contact: c/o Camarco
Phone: +44 (0) 203 757 4980
Joint Financial Advisers to Gran Tierra
Stifel Nicolaus Europe Limited
Contact: Callum Stewart, Simon Mensley
Phone: +44 (0) 20 7710 7600
Eight Capital (Joint Financial Adviser to Gran Tierra)
Contact: Tony P. Loria, Matthew Halasz
Phone: +1 (587) 893 6835
Zeus Capital Limited (Financial Adviser to i3 Energy)
Contact: James Joyce, Darshan Patel, Isaac Hooper
Phone: +44 (0) 203 829 5000
Tudor, Pickering, Holt & Co. Securities (Financial Adviser to i3 Energy)
Contact: Brendan Lines
Phone: +1 (403) 705 7830
National Bank Financial Inc. (Financial Adviser to i3 Energy)
Contact: Tarek Brahim, Arun Chandrasekaran
Phone: +1 (403) 410 7749
Camarco
Contact: Andrew Turner, Violet Wilson, Sam Morris
Phone: +44 (0) 203 757 4980
No Increase Statement
Gran Tierra Energy has stated that the financial terms of the acquisition will remain unchanged unless prompted by a competing offer from another party or consent from the regulatory panel is obtained.
Important Notices
This announcement serves solely informational purposes and does not constitute an offer or request to purchase securities or solicit votes for approval in any jurisdiction. Full terms and conditions regarding the acquisition will be made through official offer documentation that the public can access.
Overseas shareholders are reminded to comply with any legal or regulatory obligations applicable in their jurisdictions. Gran Tierra emphasizes that all involved parties should ensure no violations of local laws occur as per the securities regulations of their respective locations.
Frequently Asked Questions
What is the current status of the acquisition of i3 Energy?
The acquisition is in progress, with recent regulatory approvals achieved.
What are the next steps for shareholders?
Shareholders will soon receive formal documentation outlining the terms and conditions of the acquisition for their input and approval.
Who can shareholders contact for more information?
Shareholders can reach out to the company contacts listed, including those at Gran Tierra and i3 Energy.
What competitive conditions could affect the acquisition terms?
If another party offers more favorable terms, Gran Tierra may revise its financial proposals to retain the acquisition.
How will regulatory requirements impact the acquisition timeline?
Fulfillment of specific conditions and approvals will determine the timeline for finalizing the acquisition.
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