5th Apr 2007 07:01
Cairn Energy PLC05 April 2007 EMBARGOED FOR RELEASE AT 0700 5 April 2007 CAIRN ENERGY PLC ("Cairn") Transaction in Own Shares - Initial Purchase of B Shares The terms of the Return of Cash approved by Shareholders on 22 March 2007enabled Shareholders to sell some or all of their B Shares at £3.00 per B Share,free of all dealing expenses and commissions, through the Initial Purchase Offermade by Hoare Govett Limited as agent for ABN AMRO Bank N.V., London Branch("ABN AMRO"). Elections to accept the Initial Purchase Offer were received inrespect of 70,685,003 B Shares, representing approximately 44.0 per cent. of theB Shares. These B Shares were purchased by the Company from ABN AMRO yesterdayfor an amount equal to £3.00 per B Share plus the total stamp duty and stampduty reserve tax payable by ABN AMRO in respect of its purchase of B Shares andwere cancelled by the Company after purchase. Terms defined in the Circular to Shareholders dated 27 February 2007 have thesame meaning when used in this announcement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Capricorn Energy PLC