Two Trinity Exploration directors signal intent to vote for takeover
By
Josh White
Last Updated
The AIM-traded firm said the acquisition was set to proceed through a scheme of arrangement under the Companies Act.
Both directors, who together held 349,463 Trinity shares - approximately 0.9% of the company’s issued share capital - would vote in favour of the scheme at the upcoming court meeting and general meeting, the board confirmed.
If the acquisition was instead pursued through a takeover offer, they also planned to accept the offer, subject to regulatory consent.
The announcement followed the publication of the scheme circular to shareholders on 8 October, outlining the details of the acquisition proposal.
At 1049 BST, shares in Trinity Exploration & Production were down 0.22% at 64.36p.
Reporting by Josh White for Sharecast.com.