Management Smart-holding states of high activity of the shareholders of British oil company Regal Petroleum to approve the updated proposal for the sale of the company. In the Smart-Holding sure to consolidate a controlling stake told the agency Interfax-Ukraine First Deputy Director General for Development and Asset Smart Holding Alexei Timofeyev, the position of the shareholders of British companies is due to the realization that in the next six months, the new proposal will not be. "The majority shareholders of the company positively assess our proposal and are set to receive him, because they understand: we will not be renewed after February 20. And it is not so much in our intentions, but in the presence of certain legal and technical point of no return from this project, after which it becomes unviable. However, I am confident that we will collect the required package and the company's operations will resume, "- a spokesman said. According to Timofeeva, the majority of shareholders to understand: without a new major shareholder, is able to retain their existing Regal Petroleum License, and without his money the company can terminate its activities in the next three months. "In fact, in this situation our proposal is no alternative in nature. We have a strategic interest in the company, so we are interested in the speedy restoration of health, are ready two or three years to spend on a restart. And the problems there will have to decide enough - both technological and structural ", - stated Timofeev. However, he said that after the successful completion of the acquisition of controlling stake in Regal holding company intends to provide it with equity loan to solve urgent technical problems and resume: the group has developed a clear plan of action for the rehabilitation work and development of Regal Petroleum. "Our primary goal - to renew the license, then - to optimize the operating company's activities both technically and in terms of management. The third task - to invest in the company. Smart-Holding, plans to give her equity loan, which is sufficient for the implementation of these measures - some 25 million dollars ", - explained Timofeev, and added that the funds will be spent on urgent measures to restore the efficiency of existing wells as well as to bookmark the new wells. Timofeev also pointed to the rapid deterioration of the company after the cessation of production of hydrocarbons in November 2010. The main problem of a top manager of Smart Holding named best (June 2011), revocation of licenses to develop fields that will make the project viable. "We are primarily interested in the license, rather than hardware. Unlicensed wells Regal Petroleum, and the company will have zero cost of unlicensed wells Regal Petroleum, and the company will have zero cost "- he added. Recall Smart Holding, controlled by businessman Vadim Novinsky, February 6, announced an increase in redemption price of shares in Regal from 24 to 38 pence per share and a willingness to buy 70% stake in the company. Board of Directors of Regal Petroleum has called the new proposal "Smart holding" more advantageous than the scheme of reverse takeover, the companies proposed Heamoor Limited (Cyprus) and "Geo Alliance" (Kiev), controlled by businessman Viktor Pinchuk. Ukrainian oil and gas holding company, Geo-Alliance and Heamoor Limited businessman Viktor Pinchuk, Feb. 11 abandoned the intention to make an offer to acquire UK oil and gas company with assets in Ukraine. Now, in accordance with the requirements of the British regulator, Pinchuk Company may make an offer to purchase Regal no earlier than six months.
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