Extension of PUSU deadline
Capricorn Energy PLC has announced an extension to the PUSU deadline for Alamadiyaf al-Masiyyah's possible all-cash offer to acquire the company's issued share capital. The deadline has been moved from April 8, 2026, to May 6, 2026, to allow Alamadiyaf al-Masiyyah more time to progress its funding arrangements. There is no certainty that a firm offer will be made or on what terms, and shareholders are advised to take no action.
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On 11 March 2026, the Board of Directors of Capricorn Energy (the "Board") announced that it had 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").
In accordance with Rule 2.6(a) of the Code, Alamadiyaf al-Masiyyah was required by no later than 5.00 pm (London time) on 8 April 2026 either to 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 would be treated as a statement to which Rule 2.8 of the Code applies (the "PUSU Deadline").
In order to allow further time for Alamadiyaf al-Masiyyah to progress its funding arrangements, the Company has requested, and the Panel on Takeovers and Mergers (the "Panel") has consented to, an extension of the PUSU Deadline in accordance with Rule 2.6(c) of the Code.
Accordingly, Alamadiyaf al-Masiyyah is now required, by not later than 5.00 pm on 6 May 2026 (the "Revised PUSU Deadline"), either to announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for the Company, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This Revised PUSU Deadline may be further extended by the Company with the consent of the Panel in accordance with Rule 2.6(c) of the Code.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.