Centurion Energy International Inc. has completed an arrangement with Dana Gas PJSC (“Dana Gas”). Pursuant to the Arrangement, Giza Acquisition Inc., a wholly-owned subsidiary of Dana Gas, has acquired all of the issued and outstanding common shares of Centurion (the “Common Shares”) for $12.00 in cash per Common Share (the “Common Share Consideration”) for an aggregate acquisition cost of $1,014,866,616. In addition, under the terms of the Arrangement, holders of certain eligible options to purchase Common Shares (“Options”) will receive the cash consideration equal to the difference between the Common Share Consideration and the exercise price of the Options (the “Option Consideration”). As a result of the Arrangement, Centurion is now an indirect wholly-owned subsidiary of Dana Gas.
Arrangements have been made with the depositary, Valiant Trust Company, to forward the Common Share Consideration and Option Consideration payable to the former holders of Common Shares and Options, respectively, pursuant to the Arrangement. Holders of Common Shares and Options are directed to contact their investment professional.
It is intended that an application will be made to de-list the Common Shares from the Toronto Stock Exchange and the Alternative Investment Market of the London Stock Exchange with effect at the close of business on 12 January 2007.
