No intention to make an offer for Deltic Energy
Capricorn Energy PLC has announced that it does not intend to make an offer for Deltic Energy plc, a statement to which Rule 2.8 of the City Code on Takeovers and Mergers applies. This restriction means Capricorn Energy and any parties acting in concert with it are bound by limitations regarding future offers for Deltic, unless specific conditions are met, such as agreement from Deltic's board or the announcement of a firm offer from a third party.
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Further to its announcement of 22 April 2026, and the announcement made by NEO NEXT+ ENERGY UPSTREAM UK LIMITED ("NEO NEXT+") under Rule 2.7 of the Code on 7 May 2026, Capricorn Energy confirms that it does not intend to make an offer for Deltic.
This is a statement to which Rule 2.8 of the Code applies. Accordingly, Capricorn Energy (and any person acting in concert with it) will, except with the consent of the Panel, be bound by the restrictions set out in Rule 2.8 of the Code.
Capricorn Energy reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances: (i) with the agreement of the board of Deltic; (ii) if a third party announces a firm intention to make an offer for Deltic, including either of Petrogas International E&P Coöperatief U.A., a subsidiary of Mohammed Al Barwani LLC, or Blue Concept Hld AS; (iii) if Deltic announces a Rule 9 waiver or a reverse takeover; or (iv) if there has been a material change of circumstances (as determined by the Panel).
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.