Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in Hong Kong with limited liability under the Companies Ordinance)
(Stock Code: 00883)
EXTENSION OF THE OUTSIDE DATE OF THE ARRANGEMENT AGREEMENT RELATING TO THE PROPOSED ACQUISITION OF NEXEN
Reference is made to the Company’s announcements dated 23 July 2012, 10 August 2012, 21 September 2012 and 6 December 2012, respectively (the “Announcements”) and the circular dated 20 December 2012 (the “Circular”)in relation to the Proposed Acquisition by the Company (through its wholly-owned subsidiary, the Purchaser) of the Nexen Shares pursuant to a Plan of Arrangement under the CBCA. Capitalized terms used herein shall have the same meanings as those defined in the Announcements and the Circular unless the context requires otherwise.
As announced by the Company on 23 July 2012, according to the Arrangement Agreement, either the Company, the Purchaser or Nexen may terminate the Arrangement Agreement, among other events, if the Arrangement does not occur by 31 January 2013 (the “Outside Date”), subject, if certain regulatory approvals are not received, to any party’s right to extend the Outside Date from time to time, provided that in aggregate such extensions shall not exceed 75 business days from 31 January 2013.
Since additional time is required to obtain relevant regulatory approval, on 25 January 2013, the Company and Nexen mutually agreed to extend the Outside Date by 30 days to 2 March 2013.
Further announcement on the progress of the Proposed Acquisition will be made as appropriate.
Shareholders and potential investors should note that the Proposed Acquisition is subject to various conditions which may or may not be fulfilled. There is therefore no assurance that the Proposed Acquisition will proceed and, if it proceeds, on what terms it may proceed. Shareholders and potential investors are reminded to exercise caution when dealing in the Shares of the Company.
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By Order of the Board
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CNOOC Limited
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Zhong Hua
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Joint Company Secretary
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Hong Kong, 28 January 2013
As at the date of this announcement, the Board comprises the following:
Executive Directors
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Independent Non-executive Directors
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Li Fanrong
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Chiu Sung Hong
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Wu Guangqi
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Lawrence J. Lau
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Tse Hau Yin, Aloysius
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Wang Tao
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Non-executive Directors
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Wang Yilin (Chairman)
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Yang Hua (Vice Chairman)
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Zhou Shouwei
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Wu Zhenfang
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