Hardman shareholders in favour of Tullow takeover

Tullow Oil has announced that shareholders of Hardman Resources have voted in favour of the acquisition of Hardman by Tullow.

The Federal Court of Australia approved the takeover yesterday.

Hardman shares will be suspended from trading on the Australian Stock Exchange from close of trading today in Australia and trading of Hardman shares on AIM will be suspended prior to commencement of today’s trading in London.

Tullow boss Aidan Heavey said: "We look forward to the transaction being implemented in early January and the rapid integration of the Hardman business. In particular we are looking forward to accelerating the current drilling programme in the Albertine Basin in Uganda to build upon the very encouraging results we have seen there to date."