Sintana Energy Announces Details of Challenger Acquisition

Sintana Energy Inc. has disclosed information regarding the company's acquisition of Challenger Energy Group plc. This transaction, finalized on December 16, 2025, complied with Multilateral Instrument 61-101, bypassing the need for shareholder approval and valuation. CEO Robert Bose's involvement with both companies did not categorize the deal as a "business combination" under MI 61-101 standards.

Bose's pre-transaction holdings included 6.1% of Sintana and 4.7% of Challenger's shares. Post-acquisition, he holds 5.4% of Sintana's common shares. A special committee of directors, excluding Bose, reviewed the transaction, ensuring its fairness and alignment with regulatory requirements. The deal proceeded with board approval after a thorough review by non-interested directors.