|Richard Chandler Corporation Announces Acquisition of Shares of InterOil Corporation |
SINGAPORE, May 1, 2012 /CNW Telbec/ - The Richard Chandler Corporation announced today that Orchid Fund Pte Limited ("Orchid") has, on April 30, 2012, acquired beneficial ownership of 160,000 common shares (the "Acquired Shares") of the capital of InterOil Corporation (the "Issuer"), which represent approximately 0.33% of the issued and outstanding common shares of the Issuer. As a result of this acquisition, Orchid's shareholding in the Issuer is now an aggregate of 4,914,649 common shares of the capital of the Issuer, which represents approximately 10.21% of the issued and outstanding common shares of the Issuer. The Acquired Shares were purchased on the New York Stock Exchange at an average price of US$60.24 per common share.
As a result of this acquisition and applicable Canadian securities laws, each of Richard Chandler Capital Corporation ("RCCC"), RCCC's sole shareholder, Cosimo Management Limited (in its capacity as trustee of the R. F. Chandler Capital Trust, a discretionary trust) and RCCC's direct wholly-owned subsidiary, Richard Chandler Capital Corporation Pte Limited (which owns all of the shares of Orchid), is deemed to beneficially own the Acquired Shares.
The Acquired Shares were acquired in the ordinary course of business for investment purposes. Orchid, RCCC, Richard Chandler Capital Corporation Pte Limited and Cosimo Management Limited (in its capacity as trustee of the R. F. Chandler Capital Trust, a discretionary trust) may, from time to time and at any time, subject to applicable securities laws, acquire additional common shares of the Issuer and/or other equity, debt or other securities or instruments (collectively, "Securities") of the Issuer in the open market or otherwise may dispose of any or all of its Securities in the open market or otherwise, at any time and from time to time, and to engage in any hedging or similar transactions with respect to the Securities, in each case subject to applicable securities laws.
About the Richard Chandler Corporation
The Richard Chandler Corporation is a private investment group based in Singapore and founded by New Zealand-born entrepreneur Richard F. Chandler. The Richard Chandler Corporation's mission, Building Prosperity for Tomorrow's World, adopts a holistic approach to building sustainable prosperity through investments in financial and social enterprises. Since 1986, the Richard Chandler Corporation has provided capital to companies and governments from Asia and Africa to Latin America and Eastern Europe, and invested in a wide range of industries, such as telecoms, power, steel, banking and energy.
For more information, please visit: www.richardchandler.com
A copy of the report prepared in connection with the matters disclosed herein in accordance with applicable Canadian securities laws will be available at www.sedar.com or by contacting Richard Chandler Corporation at the address specified below: