Stratic Announces Court Approval of Proposed Plan


 

TIDMSE. 
 
RNS Number : 6654V 
Stratic Energy Corporation 
04 November 2010 
 

 
                                  NEWS RELEASE 
    Stratic Announces Court Approval of 
 Proposed Plan of Arrangement with 
                                  EnQuest PLC 
CALGARY and LONDON, November 4, 2010 - Stratic Energy Corporation (TSX Venture: 
'SE', AIM: 'SE.') ("Stratic" or the "Company") announces that the Supreme Court 
of Yukon has today granted a final order approving the previously announced plan 
of arrangement (the "Arrangement") with EnQuest PLC ("EnQuest") under the 
Business Corporations Act (Yukon).  The Arrangement provides for the acquisition 
by EnQuest of all of the issued and outstanding Stratic shares in exchange for 
ordinary shares of EnQuest on the basis of 0.089626 of an EnQuest share for each 
Stratic share.  Today's court order follows the approval of the Arrangement by 
the Company's shareholders at a special meeting held on November 2, 2010. 
Having now received all necessary shareholder, court and other approvals the 
Arrangement is scheduled to be completed after close of markets on November 5, 
2010.  Upon completion the Company will become a wholly-owned subsidiary of 
EnQuest and all Stratic shareholders will be entitled to receive EnQuest shares 
in exchange for their Stratic shares based on the exchange ratio of 0.089626 of 
an EnQuest share for each Stratic share.  Accordingly, the Company has taken 
steps to cause the Stratic shares to be delisted from the TSX Venture Exchange 
and their admission to trading on the Alternative Investment Market ("AIM") of 
the London Stock Exchange to be cancelled as soon as practicable following 
completion, which steps are anticipated to result in the Stratic shares ceasing 
to trade on either such market after the date of completion. 
Details of the Arrangement and the business of EnQuest are contained in the 
Information Circular and Proxy Statement of Stratic dated September 28, 2010. 
Copies of the Information Circular and Proxy Statement, together with the 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, were posted to shareholders and are also 
available electronically on SEDAR at www.sedar.com and the Company's website at 
www.straticenergy.com. 
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 (www.enquest.com) is an independent oil and gas production and 
development company focused on the UK Continental Shelf ("UKCS").  On 6 April 
2010 EnQuest was formed from the demerged UK North Sea assets of Petrofac 
Limited and Lundin Petroleum AB.  The EnQuest shares are listed on the London 
Stock Exchange and on the NASDAQ OMX Stockholm and are included in the FTSE250 
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 scheduled completion of the Arrangement and the 
anticipated delisting the Stratic shares from the TSX Venture Exchange and 
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 precedent as 
more particularly described in the Information Circular and Proxy Statement of 
Stratic dated September 28, 2010.  The Arrangement could be delayed if any 
condition to closing is not satisfied on expected timelines and may not be 
completed at all if any such condition cannot be 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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