Announcement Regarding Takeover Speculation

RNS Number : 2002S

San Leon Energy PLC

19 December 2016

 

This is an announcement falling under Rule 2.4 of the Irish Takeover Panel Act, 1997, Takeover Rules, 2013 (the "Takeover Rules").

For immediate release

19 December 2016

San Leon Energy plc

("San Leon" or the "Company")

 

Announcement Regarding takeover speculation

The Board of San Leon notes the takeover speculation regarding San Leon in the weekend press.  The Board of San Leon today confirms that it has received an approach from a possible offeror, which may or may not lead to an offer being made for San Leon. 

This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.5 of the Takeover Rules.

There can be no certainty that an offer will be made or as to the terms on which any offer might be made.

A further announcement will be made, as appropriate, in due course.

Enquiries:

San Leon Energy plc	+ 353 1291 6292
Oisin Fanning, Chief Executive
Whitman Howard Limited (Financial adviser to the Company)	[phone]
Nick Lovering
SP Angel Corporate Finance LLP (Nominated adviser to the Company)	[phone]
Ewan Leggett
Richard Morrison
Brandon Hill Capital Limited (Joint broker to the Company)	[phone]
Oliver Stansfield
Jonathan Evans
Vigo Communications (Financial Public Relations)	[phone]
Chris McMahon
Alexandra Roper
Plunkett Public Relations	[phone]
Sharon Plunkett

Rule 2.10 disclosure

San Leon announces, in accordance with Rule 2.10 of the Takeover Rules, that at the close of business on 16 December 2016, San Leon had the following relevant securities (within the meaning of the Takeover Rules) in issue:

·    443,025,720 ordinary shares of each in the Company (excluding shares held in Treasury). The ISIN reference number for these securities is IE00BWVFTP56 with SEDOL code BWVFTP5.

About San Leon

San Leon Energy plc is dedicated to maximising value in energy production and exploration. The Company has significant producing assets on the OML 18 block, onshore Nigeria. Additionally it has oil and gas assets across Europe and Africa.

A copy of this announcement will be available on San Leon's website at www.sanleonenergy.com.

The Directors of San Leon accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

A person interested in 1% or more of any class of relevant securities of San Leon may have disclosure obligations under Rule 8.3 of the Takeover Rules, effective from the date of this announcement.  

A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed can be found on the Irish Takeover Panel's website at www.irishtakeoverpanel.ie. "Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Irish Takeover Rules, which can be found on the Irish Takeover Panel's website.

If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, please consult the Irish Takeover Panel's website at www.irishtakeoverpanel.ie or contact the Irish Takeover Panel on telephone number [phone]; fax number [phone].

Whitman Howard Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for San Leon and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than San Leon for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement or any transaction or arrangement referred to herein. Neither Whitman Howard Limited, nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Whitman Howard Limited in connection with the subject matter of this announcement.

 

END

 

 

SPCAKCDPABDKBBD