22nd Dec 2006 11:12
Cairn Energy PLC22 December 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, OR INTO, THE UNITED STATES,CANADA, AUSTRALIA OR JAPAN FOR IMMEDIATE RELEASE 19 December 2006 CAIRN ENERGY PLC Filing of Cairn India Limited's Prospectus Cairn Energy PLC ("Cairn") announces that, in preparation for the flotation ofits Indian business on the Bombay Stock Exchange Limited and the National StockExchange of India Limited, its Indian subsidiary, Cairn India Limited ("CairnIndia") has today filed with the Registrar of Companies ("RoC"), an offeringdocument (the "Prospectus") in relation to the proposed flotation, in accordancewith regulatory requirements. The Prospectus reflects, among other things, the final issue price of Rs. 160per share for the 328,799,675 Cairn India shares being publicly offered in the flotation and over-allotments by DSP Merrill Lynch Limited as stabilising agentof 33 million further Cairn India shares at this price. In connection with theissue, the stabilising agent may undertake stabilising transactions with a view to supporting the market price of Cairn India shares in the period commencing onthe obtaining of trading permission 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-allotments 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. Allotment of Cairn India shares is expected to take place on 29 December 2006 with trading expected to commence in early January 2007. Further announcements relating to the allotment and commencement of trading of Cairn India shares will be made in due course. ABN AMRO Rothschild and Merrill Lynch are acting as joint global coordinators and bookrunners and Morgan Stanley as bookrunner in relation to the flotation. Enquiries to:Analysts/InvestorsBill Gammell Chief Executive Tel: 0131 475 3000Jann BrownFinance 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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