AURORA Oil & Gas has officially had its shares removed from the Australian Securities Exchange after the C$2.8 billion scheme of arrangement was successfully implemented in June.
Aurora and its shareholders approved Baytex Energy Corporation’s takeover offer on 21 May, with the deal receiving the green light from the Court just days later.
The company paid $4.20 for each Aurora share, a price which was approved by 88 per cent of Aurora’s shareholders.
As a result of the implementation of the Scheme, 7,050,000 options to issue shares in Aurora and 2,147,580 performance rights granted by Aurora have been cancelled.
Further, directors Jonathan Stewart, Douglas E. Brooks, Graham Dowland, John Atkins, Fiona Harris, Frederick Molson and Alan Watson have resigned as directors of Aurora. Murray Desrosiers, Richard Homsany and Andrew Birch have been appointed as new directors of Aurora.
Aurora’s shares ceased trading on the ASX and the TSX on 27 May 2014 prior to them being officially removed.