Amadeusz Juskowiak

Irish oil concern has 85 pct of cynergy crg

Bryson Oil and Gas Plc a Belfast Northern Ireland oil company said it has acquired an 85 pct stake in Cynergy Corp and took steps to help it consider the possibility of seeking control or influencing the company

In a filing with the Securities and Exchange Commission in which it disclosed its stake Bryson said it also asked Cynergy for a list shareholder list in case it decided to communicate with the holders

Shareholder information would be vital to anyone planning a tender offer and is commonly requested by individuals or groups mulling takeover attempts

Bryson told the SEC it may review the feasibility of trying to influence the management policies of Cynergy or of trying to gain control of the company through representation on its board of directors

A shareholder list would also be necessary for a group trying to mount a campaign for the election of directors

Bryson which said it has retained DF King and Co Inc to work on its Cynergy dealings said it bought 841887 Cynergy common shares for 54 mln dlrs to gain an equity position in the company Last week Texas developer James Sowell told the SEC he sold his entire 823387share stake in the company

Reuter