TAG Oil investors increase holdings to 12.27%
TAG Oil investors increase holdings to 12.27%
TAG Oil Ltd (2) (C:TAO)
Shares Issued 51,380,384
Last Close 12/2/2011 $5.04
Monday December 05 2011 - News Release
Mr. Paul Singer of Elliott Associates reports
PRESS RELEASE AND EARLY WARNING REPORT FILED UNDER NATIONAL INSTRUMENT 62-103
On Dec. 2 and Dec. 5, 2011, the Liverpool Limited Partnership and Elliott International LP purchased a total of 214,996 common shares of TAG Oil Ltd. on the Toronto Stock Exchange. Prior to this acquisition, the offerors held 6,058,900 common shares. As a result of this acquisition and taking into account the common shares already held, the offerors now beneficially owns 6,273,896 common shares, representing approximately 12.27 per cent of the total outstanding common shares.
The common shares were purchased on the TSX on Dec. 2, 2011, at a price of $5.131 per common share and on Dec. 5, 2011, at a price of $5.675 per common share.
The acquisition by Liverpool and Elliott International was made in the ordinary course of their investment activities. The offerors may or may not purchase or sell securities of the company in the future on the open market or in private transactions, depending on market conditions and other factors material to the offerors' investment decisions.
Paul E. Singer is a general partner of Elliott Associates. Hambledon Inc., which is controlled by Mr. Singer, is the general partner of Elliott International. Liverpool is a subsidiary of Elliott Associates.
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