FTSE Russell Premier Oil (4805P)
February 17 2021 - 1:00PM
UK Regulatory
TIDMPMO
RNS Number : 4805P
FTSE Russell
17 February 2021
Premier Oil (UK): Reverse Takeover
Informative Notice
17 February 2021
Premier Oil (UK, B43G057, FTSE SmallCap, GEIS Small Cap) have
announced a Reverse Takeover transaction consisting of a debt
restructuring and an all-share merger with Chrysaor Holdings
Limited (non-constituent). Current Premier Oil shareholders will
have a minority ownership in the combined entity, with the
remaining holdings of the combined entity being subject to various
lock-in agreements of twelve months or less.
Subject to the requisite court approvals, the shares are
expected to be admitted to trading on Monday 29 March 2021, and the
combined company will be renamed Harbour Energy.
All shares and free float changes associated with the
transaction will be evaluated during the quarterly review
process.
FTSE UK Index Series
In accordance with Section 5 (footnote on page 11) of the FTSE
UK Index Series ground rules , the free float calculation for the
purposes of evaluating eligibility may include shares that would
otherwise be excluded solely because they are subject to a lock-in
clause which expires within 12 months of the first day of trade.
Therefore, and contingent on maintaining a Premium listing and
satisfying all other eligibility criteria, Harbour Energy will
remain included within the FTSE UK Index Series while the
expiration of the lock-in agreements and associated changes to the
free float are monitored and reviewed in conjunction with the
quarterly review process for 12 months from the first day of
trading of Harbour Energy.
For the avoidance of doubt, the additional shares issued during
the combination will be reviewed for inclusion at the June 2021
quarterly review, with the enlarged market capitalisation first
included within the FTSE UK Index Series ranking at the September
2021 quarterly review.
For further information please contact FTSE Russell Client Services at info@ftserussell.com
or call: Australia +1800 653 680
Hong Kong +852 2164 3333
Japan +81 3 4563 6346
London +44 (0) 20 7866 1810
New York +1866 551 0617
Alternatively please visit our website at www.ftserussell.com
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END
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February 17, 2021 13:00 ET (18:00 GMT)
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