Statement regarding press speculation
Capricorn Energy PLC has confirmed receiving multiple acquisition proposals from Dragon Oil for its Western Desert assets, but the Board believes the latest offer does not reflect the true value of these assets and remains focused on maximizing shareholder value, clarifying that no proposal has been made to acquire the entire company.
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Capricorn Energy notes the recent press speculation and confirms that it has received multiple proposals from Dragon Oil to acquire the Company's assets in the Western Desert.
The Company has carefully considered the latest proposal and does not currently believe that it reflects the underlying value of the assets. The Board and management remain focused on maximising shareholder value.
The Company confirms that it has not received a proposal from Dragon Oil to acquire the Company.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.