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RNS Number : 7004H
Dragon Oil PLC
17 March 2015
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 

For immediate release

17 March 2015

DRAGON OIL PLC

Response to Share Price Movement  

Following the recent movement in its share price, Dragon Oil plc ("Dragon Oil" or the "Company") confirms that it has received an approach from Emirates National Oil Company Ltd L.L.C ("ENOC") regarding a possible offer for the entire issued and to be issued ordinary share capital of Dragon Oil that it does not already own.

There can be no certainty that any firm offer for the Company will be made nor as to the terms on which any firm offer might be made.  Further announcements will be made as appropriate.

For further information please contact:

Dragon Oil plc

 

+44 (0) 20 7647 7804

Anna Gavrilova, Investor Relations

 

 

Financial Adviser/Broker

Nomura International plc 

Andrew Forrester

John Bigham

Henry Phillips

PR Advisers

Citigate Dewe Rogerson

Martin Jackson

 

+44 (0) 20 7521 2000

 

 

 

 

 

+44 (0) 20 7638 9571

A copy of this announcement will be available at www.dragonoil.com.  The content of the website referred to in this announcement is not incorporated into, and does not form part of, this announcement.

RESPONSIBILITY

The directors of Dragon Oil accept responsibility for the information contained in this announcement relating to Dragon Oil, the Dragon Oil group of companies, the directors of Dragon Oil and members of their immediate families, related trusts and persons connected with them.  To the best of the knowledge and belief of the directors of Dragon Oil (who have taken all reasonable care to ensure that 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.



DISCLOSURE REQUIREMENTS OF THE IRISH TAKEOVER RULES

In accordance with Rule 2.10 of the Irish Takeover Rules, the Company confirms that, as at close of business on 16 March 2015, its issued share capital consisted of 491,705,394  ordinary shares of €0.10 each, with ISIN Number: IE0000590798, which carry voting rights of one vote per share.

Under the provisions of Rule 8.3 of the Irish Takeover Rules, if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Dragon Oil, all "dealings" in any "relevant securities" of Dragon Oil (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by not later than 3:30 p.m. (Irish time) on the "business day" following the date of the relevant transaction. This requirement will continue until the date on which a scheme of arrangement becomes effective or on which the "offer period" otherwise ends. If two or more persons co-operate on the basis of any agreement either express or tacit, either oral or written, to acquire an "interest" in "relevant securities" of Dragon Oil, they will be deemed to be a single person for the purpose of Rule 8.3 of the Irish Takeover Rules.

Under the provisions of Rule 8.1 of the Irish Takeover Rules, all "dealings" in "relevant securities" of Dragon Oil by ENOC , or by any person "acting in concert" with ENOC must also be disclosed by no later than 12 noon (Irish time) on the "business day" following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed can be found on the Irish Takeover Panel's website at www.irishtakeoverpanel.ie. "Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Irish Takeover Rules, which can be found on the Irish Takeover Panel's website.

If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, please consult the Irish Takeover Panel's website at www.irishtakeoverpanel.ie or contact the Irish Takeover Panel on telephone number +353 1 678 9020; fax number +353 1 678 9289.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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