16th Jul 2012 14:50
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
FOR IMMEDIATE RELEASE16 July 2012 OFFER by Shell Exploration and Production (XL) B.V. (a wholly-owned subsidiary of Royal Dutch Shell plc) for Cove Energy plc Update
Shell Exploration and Production (XL) B.V.("Shell Bidco"), a wholly-owned subsidiary of Royal Dutch Shell plc ("Shell"), made an offer in February 2012 to acquire Cove Energy plc ("Cove"), in order to enter potential liquefied natural gas developments in Mozambique, and other exploration positions in the region. Subsequently, the Takeover Panel has announced an Auction Procedure to conclude this potential takeover. Shell Bidco has today decided not to revise its offer of 220 pence in cash for each share of Cove, and not take part in the Auction Procedure for Cove.
EnquiriesShell Shell Media Relations +44 207 934 5550 +31 70 377 8750 Shell Investor Relations Europe +31 70 377 3996 United States +1 713 241 2069 Morgan Stanley & Co. Limited (Financial adviser to Shell Bidco) +44 207 425 8000 Michael O'Dwyer Ian Hart Andrew Foster
Morgan Stanley is acting as financial adviser to Shell Bidco and no one else in relation to the Offer and will not be responsible to anyone other than Shell Bidco for providing the protections afforded to the clients of Morgan Stanley nor for providing advice in relation to the Offer, the contents of this announcement or any other matter or arrangement referred to herein.
The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law or regulation and therefore persons into whose possession this announcement comes should inform themselves about and observe such restrictions. Any failure to comply with these restrictions may constitute a violation of securities laws of any such jurisdictions. To the fullest extent permitted by law, Shell Bidco and Shell disclais any responsibility or liability for the violation of such restrictions by such persons.
A copy of this announcement will be made available free of charge, subject to certain restrictions relating to persons resident in Restricted Jurisdictions on Shell's website at www.shell.com/home/content/investor/ by no later than 12 noon on 17 July 2012.
Terms not defined in this announcement shall have the meanings given to them in the offer document published by Shell Bidco on 2 May 2012.
XLONRelated Shares:
RDSA.LRDSB.L