Business
Announcement re Circular re Q4 Return of Cash
Announcement re Circular re Q4 Return of Cash.
About this update from Capricorn Energy Plc
[{"type":"text","content":"\n\n \n \nFOR IMMEDIATE RELEASE 15 September 2023\n \n \n \nCAPRICORN ENERGY PLC (\"Capricorn\" or \"the Company\")\n \nReturn of US$100 million to shareholders\n \nFollowing our Half-Year Results announcement yesterday, Capricorn is pleased to report that a circular setting out the full details of the Q4 Return of Cash and related matters (the \"Circular\") will be posted to Shareholders today.\n \nPursuant to the Q4 Return of Cash, Capricorn will pay a special dividend of 56 pence per existing ordinary share amounting to a return of approximately US$100 million (c.£79.09 million) to Shareholders and complete a consolidation of Capricorn's ordinary share capital. The special dividend is expected to be paid on 20 October 2023 to those on the register at 6.00 p.m. on 5 October 2023.\n \nThe Share Consolidation will reduce the number of Capricorn's issued ordinary shares by an amount that reflects the value of the Q4 Return of Cash to Shareholders relative to the market capitalisation of Capricorn prior to the Q4 Return of Cash. As such, every 3 existing ordinary shares of 490/143 pence each will be replaced by 2 new ordinary shares of 735/143 pence each (subject to fractional entitlements) so as to reduce the number of shares in issue to reflect the amount of cash to be returned to Shareholders. The aim of this is to ensure, so far as possible, the market price of an ordinary share remains approximately the same before and after the proposed Q4 Return of Cash and to maintain comparability of historical and future per share data. The Share Consolidation will reduce the number of ordinary shares in Capricorn which shareholders own, but not the proportion (subject to allowance for fractional entitlements).\n \n \nCircular to Shareholders\n \nCapricorn is today posting...