Statement re Serica Energy Plc

RNS Number : 0658G

Takeover Panel

16 October 2008

 

 2008/43

Serica Energy PLC ('sericA')

salamander energy plc ('salamander')

Following recent representations made by the advisers to Serica, the Panel Executive has been considering the application of Rule 2.4(b) of the Code to the approach by Salamander to Serica. Following discussions with all parties' advisers, the Panel Executive has ruled that, unless the Panel Executive consents otherwise, Salamander must, by 5.00 p.m. on 10 November 2008, either announce a firm intention to make an offer for Serica under Rule 2.5 of the Code or announce that it does not intend to make an offer for Serica. In the event that Salamander announces that it does not intend to make an offer for Serica, Salamander and any person acting in concert with it will, except with the consent of the Panel Executive, be bound by the restrictions contained in Rule 2.8 of the Code for six months from the date of such announcement.

Each of the parties has accepted this ruling.

16 October 2008

 

END

 

 

MSCILFVRISLRLIT