NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN FOR THE PURPOSES OF MAR.
For immediate release
Announcement Regarding the Possible Offer for
Further to its
IOG believes that, at the right level, a transaction would have considerable industrial logic, consolidating and scaling up two complementary portfolios with a balance of near-term catalysts and longer-term upside, representing excellent value for both sets of shareholders. However, the
IOG remains as firmly focused as ever on safe and efficient execution of its Phase 1 development, which continues to progress on track for first gas in Q3 2021, as well as generating substantial additional shareholder value from the extensive growth opportunities within its existing
This is a statement to which Rule 2.8 of the Code applies.
For the purposes of Rule 2.8 of the Code, IOG reserves the right to make or participate in an offer or possible offer for Deltic (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code) within 6 months following the date of this announcement:
i) with the agreement of the Board of Directors of Deltic;
ii) following the announcement of a firm intention to make an offer for Deltic by or on behalf of a third party;
iii) following the announcement by Deltic of a proposal for a "whitewash" (as referred to in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or for a reverse takeover (as defined in the Code); or
iv) where the Panel on Takeovers and Mergers has determined that there has been a material change of circumstances.
Enquiries:
Andrew Hockey (CEO)
Rupert Newall (CFO)
James Chance (Head of Corporate Finance & IR)
Peel Hunt LLP (Financial Adviser and Joint Broker) +44 (0) 20 7418 8900
finnCap Ltd (Nominated Adviser and Joint Broker) +44 (0) 20 7220 0500
Patrick d'Ancona
Further information
This announcement is not intended to, and does not, constitute, represent or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.
The distribution of this announcement in jurisdictions outside the
Publication on website
In accordance with Rule 26.1 of the Code, a copy of this announcement will be available on the website of IOG at www.iog.co.uk promptly and by no later than 12 noon (
Other notices
This information is provided by RNS, the news service of the
https://news.cision.com/independent-oil-and-gas-plc/r/announcement-re--possible-offer-for-deltic-energy,c3210277
https://mb.cision.com/Main/19051/3210277/1314801.pdf
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