7th Feb 2007 15:27
Cairn Energy PLC07 February 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, OR INTO, THE UNITED STATES,CANADA, AUSTRALIA OR JAPAN FOR IMMEDIATE RELEASE 7 February 2007 CAIRN ENERGY PLC Cairn India Limited Stabilisation Period Ends Cairn Energy PLC announces that following the commencement of trading in theshares of its Indian subsidiary, Cairn India Limited ("Cairn India"), on theBombay Stock Exchange Limited ("BSE") and the National Stock Exchange of IndiaLimited ("NSE"), the stabilisation period has concluded. As announced on 9 January 2007, DSP Merrill Lynch Limited, as stabilising agent,over-allocated 33 million Cairn India shares. Stabilising transactions haveoccurred involving 19.9 million Cairn India shares. As a result, Cairn India will issue 13.1 million shares in order to cover the overallocation and Cairnwill receive additional proceeds of Rs 2,093 million (approximately US$ 47.5million). Following the stabilising transactions, Cairn India will have 1,778 million shares in issue and Cairn will hold 69.0% of the enlarged share capitalin Cairn India. ABN AMRO Rothschild and Merrill Lynch acted as joint global coordinators andbookrunners and Morgan Stanley as bookrunner in relation to the flotation. Enquiries to: Analysts/InvestorsJann Brown, Finance Director Tel: 0131 475 3000 Media Tel: 0207 404 5959Brunswick Group LLP:Patrick Handley, Mark Antelme, Phoebe Buckland Cairn India Media EnquiriesDavid Nisbet Tel: 00 91 99 1048 7715 Note to editors: "Cairn" where referred to in this release means Cairn Energy PLC and/or itssubsidiaries (including Cairn India), as appropriate. Cairn India filed a Prospectus for this offering with the Securities andExchange Board of India. This announcement is not an offer for sale, or asolicitation of offers to purchase, the shares in Cairn India offered in theoffering (the "Shares") in any jurisdiction. No action will be taken to permitthe Shares to be sold in a public offer in any jurisdiction outside India. Inparticular, no offer to the public will be made in any Member State of theEuropean Economic Area or in the United States. The Shares have not been andwill not be registered under the US Securities Act of 1933, as amended. Thisannouncement and the information contained herein are not for publication,distribution or release in, or into, the United States, Canada, Australia orJapan. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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