TIDMWEN
RNS Number : 6745X
Maurel & Prom
21 December 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM THE UNITED STATES OR ANY JURISDICTION WHERE TO DO
SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS
OF THAT JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
FOR IMMEDIATE RELEASE
ETABLISSEMENTS MAUREL & PROM S.A.
21 December 2023
Update on Acquisition of Wentworth Resources PLC
Further to the announcement on 7 December 2023, Etablissements
Maurel & Prom S.A. ("M&P") is pleased to confirm that is
has successfully completed the acquisition of Wentworth Resources
Plc ("Wentworth") as announced 5 December 2022 (the
"Acquisition").
Following completion of the Acquisition, M&P's working
interest in the Mnazi Bay asset increased from 48.06% to 80%,
whilst TPDC holds the remaining 20%. TPDC, as per the Agreement
signed with M&P, will now have one months to exercise its Call
Option to increase its stake from 20% to 40%. The resulting working
interests in the Mnazi Bay asset would be 60% for M&P and 40%
for TPDC.
Commenting, Olivier de Langavant, Chief Executive Officer of
M&P, said: "We are delighted to have completed the acquisition
of Wentworth. This is an important and exciting moment for M&P,
as it sets the basis for the next phase of growth of its long and
successful partnership with TPDC to bring about the continued
growth and development of Tanzania's natural gas sector. We would
further like to take this opportunity to thank our partners at TPDC
and other Tanzanian Government stakeholders for working
collaboratively to achieve a successful outcome of the
Acquisition."
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meanings as defined in the
announcements regarding the Acquisition made by M&P on 5
December 2022 and 7 December 2023.
For further information please contact:
Etablissements Maurel & Prom S.A.
+33 1 53 83 16 00
Olivier de Langavant (CEO)
Pablo Liemann (Business Development Manager)
Matthieu Lefrancq (Business Development)
Hannam & Partners - Financial Advisor
+44 (0) 207 907 8500
Samuel Merlin
Ernest Bell
Mario Doerflinger
Celicourt Communications Limited
+44 (0)7525 951011
+44 (0)7947 868206
Mark Antelme
Philip Dennis
Important information
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities, or the solicitation of any
vote or approval in any jurisdiction, pursuant to this announcement
or otherwise. Any offer, if made, will be made solely by certain
offer documentation which will contain the full terms and
conditions of any offer, including details of how it may be
accepted.
The distribution of this announcement in jurisdictions other
than the United Kingdom and the availability of any offer to
shareholders of Wentworth who are not resident in the United
Kingdom may be affected by the laws of relevant jurisdictions.
Therefore, any persons who are subject to the laws of any
jurisdiction other than the United Kingdom or shareholders of
Wentworth who are not resident in the United Kingdom will need to
inform themselves about, and observe, any applicable
requirements.
Disclaimer
H&P Advisory Ltd ("Hannam & Partners"), which is
regulated in the United Kingdom by the Financial Conduct Authority,
is acting exclusively for M&P and no-one else in connection
with the possible offer and will not be responsible to anyone other
than M&P for providing the protections afforded to clients of
Hannam & Partners nor for providing advice in relation to the
acquisition or any other matters referred to in this
announcement.
Disclosure requirements of the Code
Rule 8.3
Under Rule 8.3(a) of the Code, any person who is interested in
1% or more of any class of relevant securities of an offeree
company or of any securities exchange offeror (being any offeror
other than an offeror in respect of which it has been announced
that its offer is, or is likely to be, solely in cash) must make an
Opening Position Disclosure following the commencement of the offer
period and, if later, following the announcement in which any
securities exchange offeror is first identified.
An Opening Position Disclosure must contain details of the
person's interests and short positions in, and rights to subscribe
for, any relevant securities of each of (i) the offeree company and
(ii) any securities exchange offeror(s). An Opening Position
Disclosure by a person to whom Rule 8.3(a) applies must be made by
no later than 3.30 pm (London time) on the 10th business day
following the commencement of the offer period and, if appropriate,
by no later than 3.30 pm (London time) on the 10th business day
following the announcement in which any securities exchange offeror
is first identified. Relevant persons who deal in the relevant
securities of the offeree company or of a securities exchange
offeror prior to the deadline for making an Opening Position
Disclosure must instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes,
interested in 1% or more of any class of relevant securities of the
offeree company or of any securities exchange offeror must make a
Dealing Disclosure if the person deals in any relevant securities
of the offeree company or of any securities exchange offeror. A
Dealing Disclosure must contain details of the dealing concerned
and of the person's interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree
company and (ii) any securities exchange offeror, save to the
extent that these details have previously been disclosed under Rule
8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies
must be made by no later than 3.30 pm (London time) on the business
day following the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a
securities exchange offeror, they will be deemed to be a single
person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree
company and by any offeror and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and
8.4).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Takeover Panel's website at www.thetakeoverpanel.org.uk ,
including details of the number of relevant securities in issue,
when the offer period commenced and when any offeror was first
identified. You should contact the Panel's Market Surveillance Unit
on +44 (0)20 7638 0129 if you are in any doubt as to whether you
are required to make an Opening Position Disclosure or a Dealing
Disclosure.
Publication of this announcement
In accordance with Rule 26.1 of the Code, a copy of this
announcement will be available, subject to certain restrictions
relating to persons resident in restricted jurisdictions, at
https://www.maureletprom.fr/en , by no later than 12 noon (London
time) on 7 December 2023. The content of the website referred to in
this announcement is not incorporated into and does not form part
of this announcement.
Français English
pieds cubes pc cf cubic feet
millions de pieds cubes par Mpc/j mmcfd million cubic feet per day
jour
milliards de pieds cubes Gpc bcf billion cubic feet
----------------------------------- ----- ------ ---------------------------------
baril B bbl barrel
barils d'huile par jour b/j bopd barrels of oil per day
millions de barils Mb mmbbls million barrels
----------------------------------- ----- ------ ---------------------------------
barils équivalent pétrole bep boe barrels of oil equivalent
barils équivalent pétrole bep/j boepd barrels of oil equivalent
par jour per day
millions de barils équivalent Mbep mmboe million barrels of oil equivalent
pétrole
For more information, please visit
https://www.maureletprom.fr/en/
Contacts
Maurel & Prom
Press, shareholder and investor relations
Tel: +33 (0)1 53 83 16 45
ir@maureletprom.fr
NewCap
Financial communications and investor relations/Media
relations
Louis-Victor Delouvrier/Nicolas Merigeau
Tel: +33 (0)1 44 71 98 53/+33 (0)1 44 71 94 98
maureletprom@newcap.eu
This document may contain forecasts regarding the financial
position, results, business and industrial strategy of Maurel &
Prom. By nature, forecasts contain risks and uncertainties to the
extent that they are based on events or circumstances that may or
may not happen in the future. These forecasts are based on
assumptions we believe to be reasonable, but which may prove to be
incorrect and which depend on a number of risk factors, such as
fluctuations in crude oil prices, changes in exchange rates,
uncertainties related to the valuation of our oil reserves, actual
rates of oil production and the related costs, operational
problems, political stability, legislative or regulatory reforms,
or even wars, terrorism and sabotage.
Maurel & Prom is listed for trading on Euronext Paris
CAC All-Tradable - CAC Small - CAC Mid & Small - Eligible
PEA-PME and SRD
Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
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END
FURUAOVRONUUUAA
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