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Sondex, a leading oilfield technology supplier, today provides an update prior to entering into close period for the company’s results for the year ended 28 February 2007.
17 Nov 2006 - EGM Announcement
Result of Extraordinary General Meeting. At an Extraordinary General Meeting held at 4.00 pm yesterday and, as recommended by the Sondex Board, none of the resolutions were approved by Sondex shareholders; accordingly the Company will not be proceeding with the acquisition of Innicor Subsurface Technologies Inc. (the “Acquisition”) or the associated Firm Placing and Placing & Open Offer (the “Fundraising”).
Sondex plc ("Sondex" or the "Company") Update on the proposed acquisition of Innicor Subsurface Technologies Inc. ("Innicor") and the Firm Placing and Placing & Open Offer.
Interim results for the six months ended 31 August 2006
Sondex plc (“Sondex”) is pleased to announce that it has filed a formal offer (the “Offer”) to acquire all of the common shares (“Common Shares”) of Innicor Subsurface Technologies Inc. (“Innicor”) with the securities regulatory authorities in Canada and has mailed the Offer and circular dated October 11, 2006 to the shareholders of Innicor (the “Innicor Shareholders”).
Sondex plc announces the acquisition of Ultima Labs Inc (“Ultima Labs”), a private Houston based technology development company with a range of IP and products related to Logging While Drilling (“LWD”) and Wireline applications for the oilfield service industry, for a consideration of up to US$9.225 million (£4.855 million), including sales related earn-out.
Sondex, a leading international downhole technology supplier to the oil & gas industry, today announces the recommended cash offer to acquire Innicor a Canadian based designer, manufacturer and provider of downhole completions equipment to the oil & gas industry. The Company also announces that it is proposing to raise approximately £40 million (net of expenses) by way of a Firm Placing and a Placing & Open Offer.