Venture urges shareholders not to sell "cheap"

14th Aug 2009 17:36

Venture has continued to urge its shareholders to reject Centrica's 845p per share offer, urging them not to sell their shares "on the cheap."The Aberdeen-based oil and gas firm made the comments after Centrica announced late yesterday that it had received 48% acceptances from shareholders and had extended the offer deadline to August 28."My message to shareholders remains clear - do not sell your shares on the cheap to Centrica. Venture is worth substantially more than 845p per share," said chairman John MorganHe said by rejecting Centrica's offer and making it lapse, shareholders will realise the real value of their investment, whether by forcing Centrica to pay a fair price or through the continuation of its own strategy."Shareholders should not sign any document which Centrica or its advisers send to them," he added.