Dragon Oil PLC No intention to make an offer (3997Y)
December 01 2014 - 2:00AM
UK Regulatory
TIDMDGO TIDMPCI
RNS Number : 3997Y
Dragon Oil PLC
01 December 2014
1 December 2014
Statement under Rule 2.8 of the Irish Takeover Rules -
Petroceltic International PLC
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 OR REGULATIONS OF THAT
JURISDICTION.
FOR IMMEDIATE RELEASE
No intention to make an offer statement under Rule 2.8 of the
Irish Takeover Rules in respect of Petroceltic International plc
("Petroceltic")
The Board of Dragon Oil plc ("Dragon Oil") announced on 6
October 2014 that it had noted the announcement by the Board of
Petroceltic to the effect that it was in detailed discussions with
Dragon Oil with respect to a possible offer for Petroceltic and
confirmed that it was in detailed discussions regarding such a
possible offer to be made for the issued, and to be issued, share
capital of Petroceltic at a price of 230 pence sterling per share
in cash.
Dragon Oil now confirms that, in the light of prevailing market
conditions, it no longer intends to make an offer for Petroceltic
and accordingly, as a result of this announcement, is bound by the
restrictions set out in Rule 2.8 of the Irish Takeover Rules.
Dragon Oil reserves the right to set aside this statement within 12
months after the date of this announcement in the circumstances set
out in Rule 2.8(c)(ii) of the Irish Takeover Rules, including
paragraph (4) of Rule 2.8(c)(ii).
Enquiries:
Dragon Oil plc:
Tel: +44 (0)20 7647 7804
Anna Gavrilova
Citigate Dewe & Rogerson:
Tel: +44 (0)20 7638 9571
Martin Jackson
Citi:
Financial Adviser to Dragon Oil
Tel: +44 (0)20 7986 4000
Simon Lindsay
Hamza Girach
Owain Parry
Citigroup Global Markets Limited ("Citi") is authorised in the
United Kingdom by the Prudential Regulation Authority and regulated
in the United Kingdom by the Financial Conduct Authority and the
Prudential Regulation Authority and is acting exclusively for
Dragon Oil and no one else in connection with the Possible Offer
and will not regard any other person (whether or not a recipient of
this announcement) as a client in relation to the Possible Offer
and will not be responsible to anyone other than Dragon Oil for
providing the protections afforded to clients of Citi or for
providing advice in relation to the Possible Offer or any other
matters referred to in this announcement.
The Directors of Dragon Oil accept responsibility for the
information contained in this announcement. To the best of their
knowledge and belief (having taken all reasonable care to ensure
that such is the case), the information contained in this
announcement is in accordance with the facts and does not omit
anything likely to affect the import of such information.
This announcement is not intended to, and does not, constitute
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 Ireland or the United Kingdom may be
restricted by law and therefore persons into whose possession this
announcement comes should inform themselves about, and observe,
such restrictions. Any failure to comply with the restrictions may
constitute a violation of the securities law of any such
jurisdiction.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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