13th Nov 2007 07:00
Plectrum Petroleum PLC13 November 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN 13 NOVEMBER 2007 Plectrum Petroleum Plc Notice of cancellation of trading of securities on AIM On 7 September 2007, Capricorn Oil & Gas Limited (a subsidiary of Cairn EnergyPLC) ('Capricorn') announced the terms of a recommended cash offer to be made byJefferies International Limited ('Jefferies') on behalf of Capricorn for theentire issued and to be issued share capital of Plectrum Petroleum Plc('Plectrum Petroleum') at a price of 13 pence per Plectrum Petroleum Share. Theoffer document containing details of the offer was posted to Plectrum Petroleumshareholders on 18 September 2007. Pursuant to the announcement on 10 October 2007 declaring the recommended cashoffer unconditional in all respects, on 12 November 2007 Plectrum Petroleumsubmitted notice to the London Stock Exchange of its intention to cancel thetrading of Plectrum Petroleum Shares on AIM. As valid acceptances of the Offerhave been received in respect of 90 per cent. or more, both of the nominal valueof the Plectrum Petroleum Shares to which the Offer relates and of the votingrights carried by such Plectrum Petroleum Shares, Capricorn has sent notices tonon-assenting Plectrum Petroleum Shareholders implementing the procedure set outin section 979 to 991 of the Companies Act 2006 to acquire compulsorily thosePlectrum Petroleum Shares which have not assented to the Offer The cancellation of trading of Plectrum Petroleum shares on AIM will take effecton 14 December 2007, being not less than 20 business days from the date of thenotice submitted to the London Stock Exchange. Terms used in this announcement shall have the same meaning given to them in theOffer Document, unless the context requires otherwise. Director's resignation Plectrum Petroleum announces that Gordon Hall (non-executive director) hasresigned from the company with immediate effect. Enquires: Cairn Energy / Capricorn www.cairn-energy.plc.ukMike Watts / Jann Brown / Simon Thomson +44 (131) 475 3000 Plectrum Petroleum Plc www.plectrum.co.ukMike Whyatt / Jim Bain +44 (1330) 826 710. Blue Oar Securities Plc www.blueoarsecurties.co.ukMike Coe / Marc Davies +44 (117) 933 0020 Jefferies International Limited www.jefferies.comRichard Kent +44 (20) 7618 3713 This announcement is not intended to and does not constitute, or form any partof, any offer to sell or any solicitation of any offer to purchase or subscribefor any securities or the solicitation of any vote or approval in anyjurisdiction. Any acceptance or other response to the Offer should be made onlyon the basis of the information contained or referred to in the Offer Documentand (in the case of Plectrum Petroleum Shares held in certificated form) theForm of Acceptance. The availability of the Offer to persons who are not resident in the UnitedKingdom may be affected by the laws of their relevant jurisdiction. Suchpersons should inform themselves of, and observe, any applicable legal orregulatory requirements of their jurisdiction. Further details in relation tooverseas shareholders will be contained in the Offer Document. Unless otherwise determined by Capricorn, and subject to any dispensationrequired from the Panel, the Offer is not being made, directly or indirectly, inor into or by the use of the mails of, or by any means or instrumentality(including, without limitation, telephonically or electronically) of interstateor foreign commerce of, or through any facilities of a national securitiesexchange of, the United States, Canada, Australia or Japan or any otherjurisdiction if to do so would constitute a violation of the relevant laws ofsuch jurisdiction. Accordingly, copies of this announcement are not being, andmust not be mailed or otherwise forwarded, distributed or sent in, into or fromthe United States, Canada, Australia or Japan and all persons receiving thisannouncement (including nominees, trustees and custodians) must not mail orotherwise forward, distribute or send it in, into or from the United States,Canada, Australia or Japan. Doing so may render invalid any purported acceptanceof the Offer. Notwithstanding the foregoing, Capricorn retains the right topermit the Offer to be accepted and any sale of securities pursuant to the Offerto be completed if, in its sole discretion, it is satisfied that the transactionin question can be undertaken in compliance with applicable law and regulation. Blue Oar, which is authorised and regulated in the United Kingdom by theFinancial Services Authority, is acting exclusively as financial adviser toPlectrum Petroleum and no one else in connection with the Offer and will not beresponsible to anyone other than Plectrum Petroleum for providing theprotections afforded to clients of Blue Oar or for providing advice in relationto the Offer. Jefferies, which is authorised and regulated in the United Kingdom by theFinancial Services Authority, is acting exclusively as financial adviser toCairn Energy and Capricorn and no one else in connection with the Offer and willnot be responsible to anyone other than Cairn Energy and Capricorn for providingthe protections afforded to clients of Jefferies or for providing advice inrelation to the Offer. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Capricorn Energy PLC