FOR IMMEDIATE
RELEASE
21 May 2024
Capricorn Energy PLC
("Capricorn" or the "Company")
Return of
US$50 million to shareholders and Share Consolidation
On 17 April 2024 Capricorn announced
details of a proposed special dividend of 43 pence per
Existing Ordinary Share, amounting to a return of approximately
US$50m to shareholders and a consolidation of Capricorn's ordinary
share capital.
The consolidation ratio for the Share Consolidation will
be 62 New Ordinary Shares for
every 79 Existing Ordinary Shares held at the Record Time. The nominal
value of the New Ordinary Shares will be 799/122
pence per New Ordinary Share.
The Share Consolidation will reduce
the number of Capricorn's issued ordinary shares by an amount that
reflects the value of the 2024 Return of Cash to shareholders
relative to the market capitalisation of Capricorn prior to the
2024 Return of Cash. The aim of this is to ensure, so far as
possible, the market price of an ordinary share remains
approximately the same before and after the proposed 2024 Return of
Cash and to maintain comparability of historical and future per
share data. The Share Consolidation will reduce the number of
ordinary shares in Capricorn which shareholders own, but not the
proportion (subject to allowance for fractional
entitlements).
Key dates
|
Latest time and date for receipt of
Electronic Proxy Instructions, Form of Proxy or CREST Proxy
Instruction in respect of Annual General
Meeting
|
11.00 a.m.
on 21 May 2024
|
|
Annual General Meeting
|
11.00 a.m.
on 23 May 2024
|
|
Latest time and date for dealings in
Existing Ordinary Shares
|
4.30 p.m.
on 23 May 2024
|
|
Record Time for entitlement to the
Special Dividend and to determine the Existing Ordinary Shares
subject to the Share Consolidation (Existing Ordinary Share
register closed and Existing Ordinary Shares disabled in
CREST)
|
6.00 p.m.
on 23 May 2024
|
|
Ordinary Shares marked ex-Special
Dividend
|
8.00 a.m.
on 24 May 2024
|
|
Listing of the New Ordinary
Shares
|
8.00 a.m.
on 24 May 2024
|
|
Dealings in the New Ordinary Shares
commence and enablement in CREST in respect of uncertificated New
Ordinary Shares
|
8.00 a.m.
on 24 May 2024
|
|
Despatch of share certificates in
respect of certificated New Ordinary Shares
|
7 June
2024
|
|
Payment of Special Dividend to
Shareholders
|
7 June
2024
|
Notes:
1. Unless
otherwise stated, defined terms set out have the same meaning as in
the Circular posted to Shareholders dated 17 April 2024.
2. All dates are
subject to change. If any of the above times or dates change, the
revised times and / or dates will be notified to Shareholders by an
announcement on an RIS.
3. References to
time are to London time.
4. The Record Time
for entitlement to the Special Dividend and to determine the
holdings of Existing Ordinary Shares subject to the Share
Consolidation may be such other time as the Directors
determine.
5.
Unless the counterparties specifically agree
otherwise, a buyer of the Company's Ordinary Shares ahead of the
ex-date (24 May 2024) will assume the benefit to the Special
Dividend and the seller would need to pass the benefit to the
buyer, even if the seller is the recorded owner at the Record
Date.
Enquiries to:
|
Analysts / Investors
|
|
|
Nathan Piper, Commercial
Director
|
Tel: 0131 475 3000
|
|
|
|
|
Media
|
|
|
Diana Milford, Corporate
Affairs
|
Tel: 0131 475 3000
|
|
Billy Clegg/Owen Roberts,
Camarco
|
Tel: 0203 757 4980
|
About Capricorn Energy PLC
Capricorn is an Egypt-focused energy
producer, with an attractive portfolio of onshore exploration,
development and production assets in the Western Desert with a
producing position in the UK North Sea.
For
further information on Capricorn please see:
www.capricornenergy.com