9th Jun 2009 07:00
DRAGON OIL PLC (the "Company" or together with its subsidiaries "Dragon Oil" or the "Group")
Independent Committee
Dragon Oil announces that an independent committee of the Board (the "Independent Committee") was formed to evaluate the approach by Emirates National Oil Company Limited (ENOC) L.L.C. ("ENOC") in relation to a possible offer for the entire issued and to be issued share capital of the Company it does not currently own (the "Approach"). The Independent Committee comprises the Company's Senior Independent Director Mr Nigel McCue as Chairman along with Mr Ahmad Al Muhairbi and Mr Saeed Al Mazrooei and is being advised by Davy Corporate Finance and Merrill Lynch International.
A further announcement will be made when appropriate.
Enquiries:
Joint brokers and financial advisers
Davy Corporate Finance Tel: +353 1 679 6363
Hugh McCutcheon
John Frain
Merrill Lynch International Tel: +44 (0)20 7628 1000
Andrew Osborne
Craig Kennedy
Media enquiries
Citigate Dewe Rogerson Tel: +44 (0)20 7638 9571
Martin Jackson
The Independent Committee accepts responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Independent Committee (who have taken all reasonable care to ensure such is the case) the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.
Davy Corporate Finance, which is regulated in Ireland by the Financial Regulator, is acting for the Company and no-one else in relation to the Approach and will not be responsible to anyone other than the Company for providing advice in relation to the Approach.
Merrill Lynch International, which is regulated in the UK by the FSA, is acting for the Company and no-one else in relation to the Approach and will not be responsible to anyone other than the Company for providing advice in relation to the Approach.
Any person who is a holder of one per cent. or more of any class of shares in Dragon Oil plc may be required to make disclosures pursuant to Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules 2007 and 2008.
Related Shares:
DGO.L