United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 26, 1996
Canada Southern Petroleum Ltd.
(Exact Name of registrant as specified in its charter)
Nova Scotia, Canada 1-3793 98-0085412
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
Suite 1410, One Palliser Square, 125 Ninth Avenue, S.E.,
Calgary, Alberta, Canada T2P 1G2
(Address of principal executive offices)
Registrant's telephone number, including area code (403) 269-7741
Not Applicable
(Former name or former address, if changed since last report.)
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Item 5. Other Events
On June 26, 1996, the Company announced that the offering of 1,268,549
shares of its Limited Voting Shares at $5.50 was oversubscribed.
A press release relating to these developments is filed herewith as an
exhibit and incorporated herein by reference.
Item 7. Financial Statements and Exhibits
(c) Exhibits
(99) Additional Exhibits.
(a) Press release dated June 26, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CANADA SOUTHERN PETROLEUM LTD.
(Registrant)
Date: June 26, 1996 By /s/ Charles J. Horne
--------------------
Charles J. Horne
President
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EXHIBIT INDEX
Exhibit Description
99(a) Press release of the registrant dated
June 26, 1996
<PAGE>
CANADA SOUTHERN PETROLEUM LTD.
OFFERING OVERSUBSCRIBED
CALGARY, Alberta, June 26, 1996 -- Canada Southern Petroleum Ltd. [NASDAQ:
CSPLF; Toronto, Pacific & Boston; CSW] today reported that its offering of
approx. 1.3 million shares of limited voting stock to its shareholders has been
substantially oversubscribed.
The offering, which ended June 24, entitled shareholders to purchase a
guaranteed allotment of one new share for every 10 shares held of record on May
13, at $7.50 Cdn. ($5.50 U.S.) per share Participants also had the option to
subscribe for additional shares on a contingent allotment basis, the company
said.
A spokesman said the offering was oversubscribed by about 55 percent, with
participating shareholders requesting approx. two million shares. Participants
should be receiving stock certificates and refund checks in about two weeks, he
said, noting that the proration factor for contingent shares should be between
30 and 40 percent.
The spokesman further noted that the net proceeds from the offering,
approximately $9.1 million Cdn. ($6.7 million U.S.), will be devoted to working
interest property requirements, exploration and development opportunities, and
the Kotaneelee gas field litigation, which goes to trial on Sept. 3.
-RMB-
Contact: James R. Joyce at (203) 245-7664
