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Sheikh Hamad bin Jassim Al Thani

Heritage Oil shareholders have approved its $1.5 billion cash takeover at a court meeting, an extraordinary general meeting, and an independent shareholders meeting on Monday.

Heritage will be taken over by Al Mirqab Capital, an investment vehicle controlled by the royal family of Qatar.

The company’s shares are expected to be suspended by July 1.

Heritage Oil is a FTSE 250 company.

Founder Anthony Buckingham currently holds a 34% stake in the company and has agreed to stay on as an adviser.

Al Mirqab is owned by Sheikh Hamad bin Jassim Al Thani, the former prime minister of Qatar.