Edition:
India

Etablissements Maurel & Prom: Possible Offer For Amerisur Resources


Monday, 22 Jul 2019 

July 22 (Reuters) - MAUREL ET PROM ::ETABLISSEMENTS MAUREL & PROM S.A. POSSIBLE OFFER FOR AMERISUR RESOURCES PLC.M&P HAS WRITTEN TO BOARD OF AMERISUR INDICATING THAT POSSIBLE OFFER WOULD BE TO ACQUIRE ENTIRE ISSUED AND TO BE ISSUED ORDINARY SHARE CAPITAL OF AMERISUR FOR A CONSIDERATION OF CASH AND M&P SHARES VALUING EACH SHARE IN AMERISUR AT 17.0 PENCE.POSSIBLE OFFER PRICE IMPLIES AN EQUITY VALUE OF US$257MM, AND REPRESENTS A 41.7% PREMIUM TO AMERISUR'S SHARE PRICE OF 12.0 PENCE ON 17 JULY 2019.M&P BELIEVES THAT PROPOSED COMBINATION WOULD ENABLE M&P TO LEVERAGE ITS OPERATIONAL EXPERTISE ON AMERISUR'S PROMISING PORTFOLIO OF DEVELOPMENT AND EXPLORATION OPPORTUNITIES.IF POSSIBLE OFFER INCLUDES A SHARE COMPONENT AND IS SUCCESSFUL, IT IS M&P'S INTENTION TO SEEK A LISTING ON STANDARD SEGMENT OF LONDON STOCK EXCHANGE'S MAIN MARKET WITHIN 3-6 MONTHS.CASH COMPONENT OF POSSIBLE OFFER WOULD BE FUNDED BY M&P'S EXISTING CASH RESOURCES AND AVAILABLE UNDRAWN FACILITIES. 

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