CALGARY, June 1 /CNW/ - Expro International Group PLC today announces
that Enseco Energy Services Corp. ("Enseco") (TSX-V: ENS) has redeemed an
unsecured convertible debenture held by Expro's indirectly wholly-owned
subsidiary, Expro International B.V. ("EIBV"), in the aggregate nominal amount
of CAD$9.8 million (the "Redemption Amount"), at a redemption price of $3.50
per Common Share.
Upon redemption of this debenture, Enseco issued to EIBV from treasury
2,828,000 common shares (the "Common Shares") in the capital of Enseco, of
which 2,800,000 Common Shares were issued as consideration for the Redemption
Amount and an additional 28,000 Common Shares were issued due to a pre-payment
penalty payable to EIBV in accordance with the terms of this debenture.
Expro indirectly beneficially owns and controls, through EIBV, 2,828,000
Common Shares, which represent approximately 12% of the issued and outstanding
Common Shares prior to the exercise, redemption or conversion of any other
convertible securities of Enseco. Expro currently does not have any intention
of acquiring any further securities of Enseco.
For further information:
For further information: Expro International Group PLC, Michael
Speakman, Finance Director, Expro International Group PLC, First Floor,
Davidson House, Forbury Square, Reading RG1 3EU, United Kingdom, 0118 959