Finance & Investing | Capital Markets
Falcon Finalizes Share Purchase from Australian Subsidiary
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Falcon Oil & Gas Ltd. has completed the purchase of 2,462,686 shares from certain of the remaining shareholders in Falcon Oil & Gas Australia Ltd. (FOGA).
As previously announced, the consideration was 2.25 common shares in Falcon for every one FOGA ordinary share held. The valuation used in this offer was the same used in the recently completed acquisition of Sweetpea Petroleum Pty Ltd's 24.2% holding in FOGA. As a result of this transaction, 5,541,044 new Falcon common shares have been issued. Application has been made to the London Stock Exchange for the new shares to be admitted to trading on the AIM Market of the London Stock Exchange.
FOGA is a subsidiary of Falcon and is the registered holder of four exploration permits in the Beetaloo Basin, Northern Territory, Australia…
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