SINGAPORE, Nov. 19, 2013 /CNW Telbec/ - The Chandler Corporation announced today that Orchid Capital Investments Pte. Ltd. ("Orchid") has, on 18 November 2013, acquired beneficial ownership of 183,676 common shares (the "Purchased Shares") in the capital of InterOil Corporation (the "Issuer"), representing approximately 0.3761% of the issued and outstanding common shares of the Issuer. As a result of this purchase, Orchid's shareholding in the Issuer is now an aggregate of 9,520,687 common shares of the capital of the Issuer, representing approximately 19.4999% of the issued and outstanding common shares of the Issuer. The Purchased Shares were purchased through the facilities of the New York Stock Exchange at an average price of US$92.2996 per common share.
As a result of this acquisition and pursuant to applicable Canadian securities laws, each of Chandler Holdings Limited ("CHL"), CHL's sole shareholder, Chandler Corporation ("CC"), CC's sole shareholder, Athena Holdings Limited (in its capacity as trustee of the Chandler Group Trust, a discretionary trust) and CHL's direct wholly-owned subsidiary, Chandler Capital Pte. Limited ("CCPL") (which owns all of the shares of Orchid), is deemed to beneficially own the Purchased Shares. CHL exercises control and direction over the Purchased Shares.
The Purchased Shares were acquired in the ordinary course of business. Orchid, CCPL, CHL, CC and Athena Holdings Limited (in its capacity as trustee of the Chandler Group 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 Chandler Corporation
The Chandler Corporation is an international investment group founded by New Zealand entrepreneur Richard Chandler. Since 1986 the Chandler Corporation has invested globally in public and private equity across a range of industry sectors, including financial services, energy, consumer, and healthcare. The Chandler Corporation distinguishes itself through its understanding of market cycles, value, and risk, bringing a long-term perspective to all of its investments. The Chandler Corporation also places a special emphasis on supporting corporate governance and responsible investment as crucial elements of business sustainability and increasing stakeholder value.
SOURCE: Chandler Corporation
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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.
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