Longford Energy Inc V.LFD

Yes = From Horses Mouth

[1BestPicks]

 

Longford shareholders approve proposed Chia Surkh sale

2012-03-01 08:19 ET - News Release

 

Mr. Ahmed Said reports

LONGFORD RECEIVES SHAREHOLDER APPROVAL AND EXTENSION ON THE SALE OF ITS INTEREST IN THE CHIA SURK BLOCK

Longford Energy Inc. has provided an update on the proposed transaction to sell its 40-per-cent undivided interest in the Chia Surkh block in the Kurdistan region of Iraq to Genel Energy PLC.

At a special meeting of shareholders of Longford held on Feb. 27, 2012, the company received shareholder approval as 97 per cent of the votes cast were in favour of the proposed sale transaction.

According to the contingent assignment agreement signed between the parties on Jan. 31, 2012, the company had until March 1, 2012, to obtain approval of the Kurdistan regional government for the sale transaction.

In agreement with the Kurdistan regional government, the date for completion has now been extended to May 1, 2012, to allow sufficient time for the relevant authorities in Kurdistan to convene and consider the sale transaction.

We seek Safe Harbor.

[HHdoc]

Correction..... I feel that ther results were more properly placed as "coming from the horse's other end!"   "Management is pleased that 97% shareholder approval received......"   Indeed, no has gotten this much support since Saddam Hussein was running the show!   What a crock. Have to admit, I voted yea as 10 cents and a possible 6 cent sp is more appealing

[taxistealer]

This post has been removed in accordance with Community Policy

[kaosblues]

I'm sorry to have to tell you this HHdoc but in my estimation the 97% that voted yes for this deal were all suckers, except  management.  Your only option was to vote No and force them back to the bargaining table with Genel and the Kurdish authorities.   Now the 97% of you as well as the other 3% are left with hardly any upside because management snookered and scared

[HHdoc]

Kaosblues; I essentially agree with your comments and conclusions. Indeed, I do consider myself a "sucker" due to the outcome of lfd. My vote for the deal was virtually a toss-up and perhaps I was duped yet again by misleading company statements. I was concerned about the "contingent assignment" of the Chia property back to the krg with no compensation or other options to the