9th Jan 2007 07:01
Cairn Energy PLC09 January 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, OR INTO, THE UNITED STATES,CANADA, AUSTRALIA OR JAPAN CAIRN ENERGY PLC Commencement of Trading of Cairn India Limited Shares Cairn Energy PLC announces that, following approval by the Bombay Stock ExchangeLimited ("BSE") and the National Stock Exchange of India Limited ("NSE") on 5January 2007, trading has today commenced in the shares of its Indiansubsidiary, Cairn India Limited ("Cairn India") on the BSE and the NSE. DSP Merrill Lynch Limited as stabilising agent has over-allocated 33 million further Cairn India shares. In connection with the issue, the stabilising agent may undertake stabilising transactions with a view to supporting the market price of Cairn India shares in the period commencing on the obtaining of trading approval from the stock exchanges referred to above and ending 30 calendar days thereafter, unless terminated earlier. The stabilising agent has been granted an option to acquire further shares from Cairn India to cover over-allocations that are not covered by stabilising transactions. There is no assurance that stabilisation will be undertaken and, if commenced, it may be discontinued at any time. ABN AMRO Rothschild and Merrill Lynch are acting as joint global coordinators and bookrunners and Morgan Stanley as bookrunner in relation to the flotation. Sir Bill Gammell, Chief Executive of Cairn Energy PLC, commented: "I am delighted that we have been able to achieve our strategic goal of creatingan autonomous business and management team for our world class assets in India.I firmly believe that the Indian listing will create enhanced opportunities forCairn, Cairn India, their respective shareholders and other stakeholders in thefuture. The flotation is a tremendous achievement and is a testament to theCairn ethos of making things happen on a fast-track basis." Enquiries to:Analysts/InvestorsBill Gammell Chief Executive Tel: 0131 475 3000Jann Brown Finance DirectorMike Watts Exploration Director MediaDavid Nisbet, Head of Group Communications Brunswick Group LLP:Patrick Handley, Mark Antelme Tel: 0207 404 5959 Cairn India Limited ("Cairn India") is undertaking a public issue in India andhas filed a Prospectus with the Securities and Exchange Board of India. Thisannouncement is not an offer for sale, or a solicitation of offers to purchase,the shares in Cairn India offered in the offering (the "Shares") in anyjurisdiction. No action will be taken to permit the Shares to be sold in apublic offer in any jurisdiction outside India. In particular, no offer to thepublic will be made in any Member State of the European Economic Area or in theUnited States. The Shares have not been and will not be registered under the USSecurities Act of 1933, as amended. This announcement and the informationcontained herein are not for publication, distribution or release in, or into,the United States, Canada, Australia or Japan. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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