ISRAMCO, INC. STOCKHOLDERS VOTE TO APPROVE MERGER
Israel Acquisitions Corp (ISRL)
US:NASDAQ Investor Relations:
isramcousa.com
Company Research
Source: GlobeNewswire
HOUSTON, TX, Oct. 22, 2019 (GLOBE NEWSWIRE) -- Isramco, Inc. (NASDAQ CM: ISRL) (“Isramco” or the “Company”), announced today that at its special meeting of stockholders held earlier today, the Company’s stockholders voted, among other things, in favor of the proposal to adopt the merger (the “Merger”) contemplated by the previously announced Agreement and Plan of Merger (the “Merger Agreement”), dated as of May 20, 2019, by and among the Company, Naphtha Israel Petroleum Corporation Ltd. (“Naphtha”), Naphtha Holding Ltd. (“NHL”), I.O.C. – Israel Oil Company, LTD. (“IOC”) and Naphtha US Oil, Inc. (“Merger Sub” and, together with Naphtha, NHL and IOC, the “Naphtha Group”), providing for the merger of Merger Sub with and into the Company, with the Company surviving the merger as an indirect wholly owned subsidiary of Naphtha. If the proposed merger is completed, the holders of shares of Isramco common stock will receive US $121.40 per share in cash, other than (i) the shares owned by
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