Loyz Energy: Proposed Acquisition Of 20% Stake In Fram Exploration - TopicsExpress

Loyz Energy: Proposed Acquisition Of 20% Stake In Fram Exploration ASA For US$41.4 Million. 05 Mar 2014 11:21 Loyz Oil Pte Ltd and Loyz USA Holdings LLC , wholly-owned subsidiaries of Loyz Energy Limited, have entered into a subscription agreement dated 4 March 2014 with Fram Exploration ASA, pursuant to which Fram has agreed to issue to Loyz USA 5,225,009 ordinary shares and 1,063,229 Warrants. The Warrants are exercisable by Loyz USA in four tranches. The consideration for the foregoing is US$41.4 million. Once the Warrants are fully exercised, Loyz USA will hold in aggregate 6,288,238 New Fram Shares, representing 20% of the enlarged issued share capital of Fram... shareinvestor/news/news.html?source=sg_si_express&nid=80012

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