Statement on possible offer for Capricorn Energy
Capricorn Energy PLC has confirmed receipt of multiple unsolicited, non-binding proposals from Alamadiyaf al-Masiyyah for Trading LLC for a possible all-cash acquisition of the company's issued and to be issued share capital. The Board has evaluated these proposals with advisors and granted due diligence access, though discussions are ongoing and clarity on funding arrangements is being sought. There is no certainty that a firm offer will be made or on what terms, and shareholders are advised to take no action. An offer period has commenced, and Alamadiyaf al-Masiyyah must announce a firm intention to offer or withdraw by 5:00 pm on April 8, 2026. As of March 11, 2026, Capricorn Energy had 70,558,339 ordinary shares in issue.
Select text to share a quote on X · sign in to keep highlights & notes in your CNE notes
The Board of Capricorn Energy confirms that it has received multiple unsolicited non-binding proposals from Alamadiyaf al-Masiyyah for Trading LLC ("Alamadiyaf al-Masiyyah"), a member of the Cafani Group, regarding a possible all cash offer to acquire the entire issued and to be issued share capital of the Company (the "Possible Offer").
The Board has evaluated the Possible Offer with its financial and legal advisers and has provided due diligence access to Alamadiyaf al-Masiyyah. Discussions with Alamadiyaf al-Masiyyah are ongoing and the board of Capricorn Energy is seeking clarity around Alamadiyaf al-Masiyyah's funding arrangements. There can be no certainty that any firm offer will be made, nor as to the terms of any such firm offer.
Shareholders are advised to take no action in respect of the Possible Offer and a further announcement will be made as and when appropriate.
In accordance with Rule 2.6(a) of the Code, by not later than 5.00 pm on 8 April 2026, Alamadiyaf al-Masiyyah must either announce a firm intention to make an offer for Capricorn Energy in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Capricorn Energy, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Panel on Takeovers and Mergers (the "Takeover Panel") in accordance with Rule 2.6(c) of the Code.
As a consequence of this announcement, an offer period has now commenced in respect of Capricorn Energy in accordance with the Code and the attention of Capricorn Energy shareholders is drawn to the disclosure requirements of Rule 8 of the Code, which are summarised below.
For the purposes of Rule 2.5(a) of the Code, this announcement has been made without the consent of Alamadiyaf al-Masiyyah.
Rule 2.9 Disclosure
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.