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Article: Production Enhancement Group Board endorses offer to be purchased by Quest Energy Services (Canada) Ltd.
- Article from:
- PR Newswire
- Article date:
- April 18, 2008
CopyrightCOPYRIGHT 2008 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON, TX, April 18 /PRNewswire-FirstCall/ -- Production Enhancement Group, Inc. (TSX: WIS) ("PEG" or the "Company") and Quest Energy Services (Canada) Ltd. ("Quest"), an indirect wholly owned subsidiary of Al Qahtani Marine & Oilfield Services Co. of Saudi Arabia ("Al Qahtani") have entered into a definitive agreement under which Quest has agreed to make an offer to purchase all the outstanding common shares of PEG for CDN $0.65 per share (the "Offer"). The Offer is conditional upon, among other things, there having been validly deposited under the Offer and not withdrawn at least 51% of the outstanding Common Shares calculated on a diluted basis.
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