LONDON (Alliance News) - Mosman Oil & Gas Ltd Monday said it has now received acceptances from shareholders of Trident Energy Ltd representing 90% of the company's issued share capital.
Mosman said the milestone meant it can now proceed with the compulsory acquisition of the rest of Trident's shares.
Mosman launched its offer to acquire all of the shares of Trident in July, offering one Mosman share for every five Trident shares.
Trident is an unlisted Australian company with onshore and offshore oil interests in Australia.
Mosman shares were down 1.9% to 19.14 pence on Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Mosman Oil Gas (MSMN)