Satisfaction of Pre-condition in Arawak Offer


 

TIDMAAK 
 
RNS Number : 9331L 
Arawak Energy Limited 
20 January 2009 
 

Not for release, publication or distribution, in whole or in part, in or into or 
from Australia or Japan or any other jurisdiction where to do so would 
constitute a violation of the relevant laws of such jurisdiction. 
 
 
FOR IMMEDIATE RELEASE 
 
 
20 January 2009 
 
 
RECOMMENDED AND INCREASED CASH OFFER 
for 
ARAWAK ENERGY LIMITED 
by 
ROSCO S.A. 
(a member of the Vitol Group) 
 
 
 
 
 
 
SATISFACTION OF PRE-CONDITION 
 
 
 
 
On 16 January 2009, the boards of Rosco S.A. ("Rosco") and Arawak Energy Limited 
("Arawak") announced the terms of a recommended and increased pre-conditional 
cash offer to be made by Rosco to acquire the entire issued and to be issued 
common share capital of Arawak (the "Offer"). 
 
 
Rosco has now received written confirmation from the Federal Anti-Monopoly 
Service of the Russian Federation ("FAS"), that FAS has, in accordance with 
Articles 28 and 33 of Federal Law No. 135-FZ, dated 26 July 2006, granted the 
application made by Vitol Holding B.V., the parent company of Rosco, for the 
acquisition of rights under the Offer, on terms which are reasonably 
satisfactory to Rosco. 
 
 
Accordingly, Rosco confirms that the Pre-Condition to the Offer has been 
satisfied. 
 
 
As stated in the announcement of the Offer released on 16 January 2009 (the 
"Offer Announcement"), it is expected that the Offer Document will be posted as 
soon as practicable, and in any event (save with the consent of the Panel) 
within seven days following receipt of the formal valuation required pursuant to 
Canadian securities laws (or a waiver of the requirement from applicable 
Canadian securities regulators to post such valuation at the same time as the 
Offer Document). 
 
 
Rosco is in discussions with applicable Canadian securities regulators in 
relation to the above requirement and a further announcement on the progress of 
those discussions will be made in due course. 
 
 
Unless otherwise specified, capitalised terms in this announcement have the 
meaning given to them in the Offer Announcement. 
 
 
Enquiries 
 
 
+------------------------------------+-----------------------------------+ 
| Kingsdale Shareholders Services    | Tel:                              | 
| Inc. (information agent appointed  | within North America: +           | 
| by Rosco)                          | 1-800-775-5159                    | 
|                                    | outside North America: +          | 
|                                    | 1-416-867-2272                    | 
+------------------------------------+-----------------------------------+ 
 
 
This announcement does not constitute an offer to sell or an invitation to 
purchase or subscribe for any securities or the solicitation of an offer to buy 
or subscribe for any securities pursuant to the Offer or otherwise. The Offer 
will be made solely by the Offer Document and the Form of Acceptance 
accompanying the Offer Document, which will contain the full terms and 
conditions of the Offer, including details of how the Offer may be accepted. 
 
 
The Offer Document and Form of Acceptance will be made available to those Arawak 
Shareholders who are able to receive them, as a result of the laws of the 
jurisdictions in which they are resident.  Arawak Shareholders should read the 
Offer Document and Form of Acceptance (if they are able to receive them) as they 
contain important information. 
 
 
The Offer will not be made, directly or indirectly, in or into or by use of the 
mails or any other means or instrumentality (including, without limitation, 
telephonic or electronic) of interstate or foreign commerce of, or any facility 
of a national, state or other securities exchange of Australia or Japan and the 
Offer will not be capable of acceptance by any such use, means, instrumentality 
or facility or from within Australia or Japan. Accordingly, copies of this 
announcement and formal documentation relating to the Offer are not being, and 
must not be, directly or indirectly, mailed or otherwise forwarded, distributed 
in or into or from Australia or Japan and persons receiving this announcement 
(including custodians, nominees and trustees) must not distribute or send it 
into or from Australia or Japan. Doing so may render invalid any related 
purported acceptance of the Offer. 
 
 
The laws of the relevant jurisdictions may affect the availability of the Offer 
to persons who are not resident in the United Kingdom or Canada. Persons who are 
not resident in the United Kingdom or Canada, or who are subject to laws of any 
jurisdiction other than the United Kingdom or Canada, should inform themselves 
about, and observe, any applicable requirements. Any person (including nominees, 
trustees and custodians) who would, or otherwise intends to, forward this 
announcement, the Offer Document and the Form of Acceptance or any accompanying 
document to any jurisdiction outside the United Kingdom or Canada should refrain 
from doing so and seek appropriate professional advice before taking any action. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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