Statement of intention not to make an offer

In brief · summary, not quotable

Alamadiyaf al-Masiyyah For Trading Company Limited (AMFT) has confirmed it does not intend to make an offer for Capricorn Energy plc, a statement to which Rule 2.8 of the City Code on Takeovers and Mergers applies. Consequently, AMFT and any parties acting in concert with it are restricted from making a further offer for Capricorn for six months, unless specific circumstances arise, such as the withdrawal of a competing offer from Genel Energy No.9, the announcement of a third-party offer, or a material change in circumstances as determined by the Takeover Panel.

Full announcement

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Following the announcement on 11 March 2026 by Capricorn, AMFT confirms it does not intend to make an offer for Capricorn.

This is a statement to which Rule 2.8 of the Code applies. Accordingly, AMFT and any person(s) acting in concert with it will, except with the consent of the Panel on Takeovers and Mergers (the "Takeover Panel"), be bound by the restrictions set out in Rule 2.8 of the Code, including that it will not be able to make an offer for Capricorn, subject to the exceptions in Rule 2.8, for six months from the date of this announcement. Under Note 2 on Rule 2.8 of the Code, AMFT, and any person(s) acting in concert with it, reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:

with the agreement of the board of directors of Capricorn in the event that the offer from Genel Energy No.9 is withdrawn or lapses;
following the announcement of a firm intention to make an offer for Capricorn by, or on behalf of, a third party;
following the announcement by Capricorn of a Rule 9 waiver proposal (see Note 1 of the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover (as defined in the Code); or
if there has been a material change of circumstances (as determined by the Takeover Panel).

Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.