Group of companies Smart Holding got the consent of the shareholders of British company Regal Petroleum for sale of 51.7% of the company shares.

As of 12:00 p.m. (London time) of February 18, 2011 Energees Management got the consent of Regal Petroleum shareholders for sale of 164 599 370 company shares which is around 51.7% of the total equity capital. Therefore, the Offer of the Group of companies Smart Holding becomes absolute.

According to new Offer of the Group of companies Smart Holding regarding purchase of a part of shares of British Oil and Gas Company Regal Petroleum published on February 6, 2011, Energees Management is ready to buy out 70% of Regal Petroleum shares (224 446 485 shares) at £0.38 per share. Total amount of the Offer is valued at £85.3 mln. for above number of shares or £121.8 mln. based on total capital of the company.

Offered new price for redemption of Regal Petroleum shares includes:

• 204% premium to closing price in £0.125 per share of Regal Petroleum on November 24, 2010 (last business day prior to Offer period);
• 147% premium to closing price in £0.154 per share of Regal Petroleum during the month prior to Offer period;
• 58% premium to price of the previous Energees Management’s Offer in £0.24 per share of Regal Petroleum.