09:50 AM EST - Ithaca Energy Inc. : and Valiant Petroleum plc announced that they had reached agreement on the terms of a recommended acquisition under which Ithaca Energy Holdings (UK) Limited, a wholly-owned subsidiary of Ithaca, would acquire the entire issued and to be issued share capital of Valiant by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006. The Court sanctioned the Scheme on April 18. Holders of Scheme Shares are entitled to receive 307 pence in cash and 1.33 Ithaca Consideration Shares for each Valiant Share held. Ithaca Energy Inc.
shares T.IAE are trading up $0.05 at $1.68.
