4th Apr 2007 08:42
Cairn Energy PLC04 April 2007 FOR IMMEDIATE RELEASE 4 April 2007 CAIRN ENERGY PLC ("Cairn") Return of Cash and Results of B Share Scheme Elections The Return of Cash, which was approved by Shareholders on 22 March 2007,provided Shareholders with three choices in relation to their B Shares. As atthe close of the Election Period, being 11.00 a.m. on 3 April 2007, the resultsof elections were as follows: Choice 1: Single B Share Dividend - valid and deemed elections to accept Choice1 were received in respect of 86,908,764 B shares, representing 54.2% of the Bshares in issue; Choice 2: Initial Purchase Offer - valid and deemed elections to accept Choice 2were received in respect of 70,685,003 B shares, representing 44.0% of the Bshares in issue; and Choice 3: Future Purchase Offer - valid and deemed elections to accept Choice 3were received in respect of 2,874,153 B shares, representing 1.8% of the Bshares in issue. It is expected that Hoare Govett Limited, acting as agent on behalf of ABN AMROBank N.V., London Branch (acting as principal), will make on 4 April 2007 theInitial Purchase Offer to purchase the 70,685,003 B Shares in respect of whichvalid elections have been received from Shareholders. Cairn will declare the Single B Share Dividend of £3.00 per B Share payable tothose Shareholders who have, or who are deemed to have, elected to receive theSingle B Share Dividend on 4 April 2007. Settlement of the Initial Purchase Offer and Single B Share Dividend forShareholders is expected to be made on 11 April 2007. Full details of the return of cash by way of the B share scheme and associatedshare capital consolidation are contained in the circular to shareholders dated27 February 2007. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Capricorn Energy PLC