Statement of intention not to make an offer
Samos Energy Limited has announced it does not intend to make an offer for Capricorn Energy PLC, as required by the City Code on Takeovers and Mergers. This statement, falling under Rule 2.8 of the Code, restricts Samos Energy and its concert parties from making an offer for Capricorn for six months, unless specific circumstances arise, such as the withdrawal of Genel's offer, a third-party offer, or a material change in circumstances. Samos Energy also reserves the right to acquire Capricorn shares in accordance with regulations.
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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Statement by Samos Energy Limited ("Samos Energy") of intention not to make an offer for Capricorn Energy PLC ("Capricorn")
Samos Energy notes the announcement made by Capricorn on 22 July 2026 regarding a possible offer for Capricorn by Samos Energy. Pursuant to Section 4 of Appendix 7 of the City Code on Takeovers and Mergers (the "Code"), Samos Energy was required, by not later than 5.00 p.m. (London time) on 11 August 2026, to either announce a firm intention to make an offer for Capricorn Energy plc ("Capricorn") in accordance with Rule 2.7 of the Code, or to announce that it does not intend to make an offer.
Samos Energy confirms that it does not intend to make an offer to acquire Capricorn. This is a statement to which Rule 2.8 of the Code applies. Accordingly, except with the consent of the Panel on Takeovers and Mergers (the "Takeover Panel"), Samos Energy, and any person acting in concert with Samos Energy, is bound by the restrictions under Rule 2.8 of the Code.
Under Note 2 on Rule 2.8 of the Code, Samos Energy, and any person acting in concert with Samos Energy, reserves the right to set aside the restrictions in Rule 2.8 of the Code and announce an offer or possible offer for Capricorn, or make or participate in an offer or possible offer for Capricorn, and/or take any other action otherwise precluded under Rule 2.8 of the Code within six months of the date of this announcement in the following circumstances:
- in the event that the offer by Genel is withdrawn or lapses, with the agreement of the board of Capricorn;
- if a third party announces a firm intention to make an offer for Capricorn;
- following the announcement by Capricorn of a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and/or
- if there has been a material change of circumstances (as determined by the Takeover Panel).
Samos Energy also reserves the right to acquire shares of Capricorn, subject to, and in accordance with, the Code and other applicable regulations.
Additional information
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.