Stratic Announces Filing of Information Circular


 

TIDMSE. 
 
RNS Number : 6561T 
Stratic Energy Corporation 
01 October 2010 
 
 
                                  NEWS RELEASE 
    Stratic Announces Filing of Information Circular 
 for Proposed Plan of 
                          Arrangement with EnQuest PLC 
CALGARY and LONDON, October 1, 2010 - Stratic Energy Corporation (TSX Venture: 
'SE', AIM: 'SE.') ("Stratic" or the "Company") announces that it has filed its 
information circular and proxy statement (the "Circular") for the upcoming 
special meeting at which the Company's shareholders will be asked to consider 
and vote upon the previously-announced plan of arrangement (the "Arrangement") 
with EnQuest PLC ("EnQuest") under the Business Corporations Act (Yukon) (the 
"YBCA").  Pursuant to the Arrangement, EnQuest proposes to acquire all of the 
issued and outstanding Stratic shares in exchange for EnQuest shares on the 
basis of 0.089626 of an EnQuest share for each Stratic share. 
The special meeting is scheduled to be held at 10:00 a.m. (Toronto time) on 
November 2, 2010 at the Toronto Marriott Bloor Yorkville Hotel in Toronto, 
Ontario, Canada.  Further details are set forth in the notice of meeting that is 
included with the Circular. 
The Company has commenced mailing copies of the Circular and related documents 
to its shareholders.  Copies of the Circular, together with the accompanying 
instrument of proxy for use at the special meeting and letter of transmittal by 
which registered shareholders of the Company may surrender the certificates 
representing their Stratic shares in exchange for the EnQuest shares issuable 
under the Arrangement, are also available electronically on SEDAR at 
www.sedar.com and the Company's website at www.straticenergy.com. 
The Circular contains details concerning the Arrangement, the requirements for 
the Arrangement to become effective, the procedure for exchanging Stratic shares 
for EnQuest shares, voting at the special meeting and other related matters, 
together with detailed information concerning EnQuest and its business and 
affairs.  Shareholders are urged to carefully review the Circular and 
accompanying materials as they contain important information regarding the 
Arrangement and its consequences to shareholders. 
In order to proceed the Arrangement must be approved by a majority of not less 
than 66?% of votes cast by shareholders in person or by proxy at the special 
meeting and, if so endorsed, must also be approved by the Supreme Court of Yukon 
(the "Court") pursuant to the arrangement provisions of the YBCA.  An interim 
order of the Court providing directions on various matters relating to the 
special meeting and the Arrangement, particulars of which are contained in the 
Circular, was issued on September 28, 2010. 
Stratic shareholders of record as of the close of business on September 24, 2010 
are the only persons entitled to vote on the special resolution to approve the 
Arrangement, subject to the Company's by-laws and the provisions of the YBCA 
regarding the exercise of voting rights by persons who become registered holders 
of Stratic shares after such record date. 
Completion of the Arrangement is subject to certain additional conditions 
precedent as provided for under the definitive arrangement agreement between 
Stratic and EnQuest entered into on August 2, 2010 and described in the 
Circular, including the agreement by the holders of the Company's outstanding 9% 
convertible notes to accept the repayment offer required to be made by Stratic 
following completion of the Arrangement.  All such holders have entered into 
agreements with Stratic and EnQuest by which they have committed to accept the 
post-closing repayment offer and, accordingly, this particular condition has now 
been satisfied. 
If the Arrangement is approved by the shareholders on November 2, 2010 at the 
meeting, Stratic intends to apply to the Court for a final order approving the 
Arrangement at a hearing scheduled for November 4, 2010.  If the final order is 
granted and all other conditions precedent are satisfied or waived at such time, 
the Company expects that the Arrangement will be completed and become binding 
upon all shareholders on or about November 5, 2010. 
Should the Arrangement be approved by the Stratic shareholders and become 
effective, Stratic will become a wholly-owned subsidiary of EnQuest. 
Accordingly, as soon as practicable following completion of the Arrangement, the 
Stratic Shares will be de-listed from the TSX Venture Exchange. In addition, 
Stratic has applied to the London Stock Exchange for the admission to trading of 
Stratic shares on AIM to be cancelled following completion of the Arrangement. 
If the Arrangement completes on November 5, 2010 as expected, such cancellation 
is expected to take effect on November 8, 2010. 
For further information contact: 
Company: 
Kevin Watts, President and Chief Executive Officer 
+44 20 7766 7900 
John van der Welle, Chief Financial Officer 
     +44 20 7766 7900 
Mark Bilsland, Chief Operating Officer 
      +44 20 7766 7900 
 
Public and investor relations: 
Patrick d'Ancona, M:Communications (London) 
+44 20 7920 2347 
Roger Fullerton (Canada) 
            +1   952 929 7243 
Email: roger.fullerton@straticenergy.com 
 
Financial advisor and NOMAD: 
David Kotler, Lazard 
               +44 20 7187 2000 
Nick Fowler, Lazard 
              +44 20 7187 2000 
 
Website:  www.straticenergy.com 
 
Notes to Editors: 
EnQuest is an independent oil and gas production and development company focused 
on the UK Continental Shelf ("UKCS").  On April 6, 2010 EnQuest was formed from 
the demerged UK North Sea assets of Petrofac Limited and Lundin Petroleum AB. 
EnQuest shares are listed on the London Stock Exchange and on the NASDAQ OMX 
Stockholm and are included in the FTSE250 index and OMX Nordix index on the 
respective exchanges.  EnQuest is completely unrelated to the company EnQuest 
Energy Services Corp., which was formerly listed on the TSX Venture Exchange. 
Reader Advisories 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that 
term is defined in the policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release. 
This news release does not constitute or form part of an offer to sell or the 
solicitation of an offer to buy, nor shall there be any sale of, securities to 
any person to whom or in any jurisdiction in which such offer, solicitation or 
sale would be unlawful. The securities to be offered have not been and will not 
be registered under the United States Securities Act of 1933, as amended (the 
"U.S. Securities Act"), or any state securities laws, and may not be offered or 
sold in the United States or to or for the account or benefit of a U.S. person 
unless registered under the U.S. Securities Act and applicable state securities 
laws or pursuant to an available exemption from, or in a transaction not subject 
to, the registration requirements thereof. 
Certain statements made herein constitute forward-looking statements, including 
statements concerning the anticipated dates for holding the special meeting of 
Stratic shareholders to consider the Arrangement, for applying to the Court for 
a final order approving the Arrangement, for completing the Arrangement and for 
the delisting of the Stratic shares from the TSX Venture Exchange and the 
cancellation of their admission to trading on AIM.  Although the Company 
believes these statements to be reasonable, the assumptions upon which they are 
based may prove to be incorrect. 
Completion of the Arrangement is subject to a number of conditions, including 
shareholder, court and regulatory approvals and consents. The Arrangement could 
be delayed if the Company is not able to obtain all necessary approvals and 
consents on expected timelines, or not completed at all if any condition to 
closing is not satisfied.  There can be no assurance that the Arrangement will 
be completed as proposed, or at all. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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