Core Viewpoint - Sintana Energy Inc. has successfully completed the acquisition of Challenger, with the court sanctioning the scheme of arrangement on December 12, 2025, making the acquisition effective [1][2] Acquisition Details - The acquisition was implemented through a court-sanctioned scheme of arrangement under the Isle of Man Companies Act 1931 [1] - The entire issued ordinary share capital of Challenger is now owned by Sintana following the court's approval [2] Consideration for Shareholders - Scheme Shareholders will receive 0.4705 New Sintana Shares for each Challenger Share held as consideration [4] - Settlement of the consideration will occur within 14 days of the announcement, by December 30, 2025 [7] Share Trading and Listing Changes - Admission to trading of Challenger Shares on AIM will be cancelled by 8:00 a.m. on December 17, 2025 [8] - Trading of New Sintana Shares on the TSXV is expected to commence on or around December 23, 2025 [9][10] Board and Management Changes - Following the acquisition, several directors of Challenger have resigned, and new members have joined the Sintana Board [11][12] - The current Sintana Board now consists of six members, including the CEO Robert Bose and Non-Executive Chairman Keith Spickelmier [13]
Sintana Energy Inc. Announces Scheme of Arrangement Becomes Effective