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JHI Associates Secures Interim Court Order for Shareholder Meeting Linked to Eco Bid

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-- The Ontario Superior Court of Justice (Commercial List) granted an interim order allowing JHI Associates to convene a shareholders' meeting to vote on the plan of arrangement relating to Eco (Atlantic) Oil & Gas' (ECO.L) proposed takeover.

As such, JHI has set its annual and special shareholders' meeting for May 12, according to a Thursday filing. If approved by shareholders, JHI will seek the court's final sanction on the arrangement on May 15, with completion expected by the end of the third quarter, subject to customary closing conditions and regulatory approvals.

On March 11, the oil and gas company entered into a binding agreement to acquire the remaining JHI shares it does not own through an exchange ratio of 0.7054 Eco share for each JHI share.

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