Heritage Oil Corporation Announces Redemption of Exchangeable Shares

Heritage Oil Corporation Announces Redemption of Exchangeable Shares

Heritage Oil Corporation (“Heritage” or the “Corporation”) (TSX:HOC) announces its intention to redeem all of the issued and outstanding exchangeable shares (the “Exchangeable Shares”) of the Corporation on May 16, 2014 (the “Redemption Date”) in connection with the offer by Energy Investments Global Limited to acquire certain ordinary shares of Heritage Oil Plc (the “Ordinary Shares”) as announced on April 30, 2014. The redemption price for the Exchangeable Shares will be satisfied by Heritage causing to be delivered to each holder of Exchangeable Shares (the “Holders”) one Ordinary Share for each Exchangeable Share held by such Holder, in accordance with the terms attaching to the Exchangeable Shares.
From and after the Redemption Date, the Holders will cease to be holders of Exchangeable Shares and will not be entitled to exercise any of the rights of holders of Exchangeable Shares, other than the right to receive, upon surrender of certificates representing Exchangeable Shares, Ordinary Shares in respect of the Exchangeable Shares held by each Holder. Additionally, from and after the Redemption Date former Holders will be considered and deemed for all purposes to be holders of the Ordinary Shares such former Holders are entitled to receive for the redemption of their Exchangeable Shares.
A notice of redemption (the “Notice”) and letter of transmittal containing information required by Heritage’s articles was sent to registered Holders today. In accordance with the instructions specified in the Notice, the Exchangeable Shares are to be surrendered to Computershare Investor Services Inc., Toronto as paying agent, (the “Paying Agent”) in exchange for Ordinary Shares. Certificates representing Ordinary Shares will be issued on the later of the Redemption Date and the date certificates representing Exchangeable Shares are surrendered to the Paying Agent. Holders of Exchangeable Shares registered in the name of a broker, investment dealer, bank, trust company, depositary or other nominee, should contact that nominee for instructions and assistance with respect to the redemption of their Exchangeable Shares.
As at today’s date, Heritage Oil Plc and Heritage, respectively, have the following share capital:
— 275,669,060 Ordinary Shares of no par value (excluding treasury shares
held by Heritage Oil Plc). Each Ordinary Share carries one voting right;
and
— 2,256,818 Exchangeable Shares of no par value of Corporation each
carrying one voting right in Heritage Oil Plc.
It is expected that the Exchangeable Shares will be delisted from the Toronto Stock Exchange following the close of markets on Monday, May 12, 2014.
The Ordinary Shares are listed on the Main Board of the Main Market of the London Stock Exchange. The trading symbol is HOIL and Heritage Oil Plc is a constituent of the FTSE 250 Index.

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