The Sinochem Directors and the Emerald Directors had reached agreement on the terms of a recommended all cash acquisition by Sinochem of the entire issued and to be issued share capital of Emerald to be implemented by means of a Scheme of Arrangement. A scheme circular proposing the Scheme of Arrangement (the “Circular”) was posted to Emerald Shareholders on 7 September 2009.

The Court Meeting and the Extraordinary General Meeting were held today to consider and approve the Scheme of Arrangement.

The Emerald Directors announce that, at the Court Meeting, a majority in number of Scheme Shareholders present and voting (either in person or by proxy), representing not less than 75 per cent. in value of the relevant Scheme Shares, voted in favour of the resolution to approve the Scheme of Arrangement.

Tags: Emerald Energy Plc, Sinochem