Business
No intention to make an offer for Deltic Energy
Capricorn Energy PLC has confirmed it does not intend to make an offer for Deltic Energy plc, a statement to which Rule 2.8 of the City Code on Takeovers and Mergers applies. This means Capricorn Energy and any parties acting in concert with it are restricted from making a further offer for Deltic for a period of six months, unless specific circumstances arise, such as the agreement of Deltic's board, a competing offer from a third party including Petrogas International E&P Coöperatief U.A. or Blue Concept Hld AS, or a material change in circumstances. Disclaimer*
About this update from Deltic Energy Plc
[{"type":"text","content":"\n\nThe 'No intention to make an offer for Deltic Energy' announcement released on 19 May 2026 at 07.00am under RNS No 8026E should have been linked to Deltic Energy plc.\n \nThe announcement text is unchanged and is reproduced in full below.\n \nNOT 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 THAT JURISDICTION\n \nTHIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\")\n \nFOR IMMEDIATE RELEASE\n\n\n \n19 May 2026\n \nCapricorn Energy PLC (\"Capricorn Energy\")\n \nNo intention to make an offer for Deltic Energy plc (\"Deltic\")\n \nFurther to its announcement of 22 April 2026, and the announcement made by NEO NEXT+ ENERGY UPSTREAM UK LIMITED (\"NEO NEXT+\") under Rule 2.7 of the Code on 7 May 2026, Capricorn Energy confirms that it does not intend to make an offer for Deltic.\n \nThis is a statement to which Rule 2.8 of the Code applies. Accordingly, Capricorn Energy (and any person acting in concert with it) will, except with the consent of the Panel, be bound by the restrictions set out in Rule 2.8 of the Code.\n \nCapricorn Energy reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances: (i) with the agreement of the board of Deltic; (ii) if a third party announces a firm intention to make an offer for Deltic, including either of Petrogas International E&P Coöperatief U.A., a subsidiary of Mohammed Al Barwani LLC, or Blue Concept Hld AS; (iii) if Deltic announces a Rule 9 waiver or a reverse takeover; or (iv) if there has been a material change of circumstances (as determined by the Panel).\n \nContact Information:\n \n\n\n\n\nCapricorn Energy plc\nRandy Neely, Chief Executive Officer\n \n \n\n\n \n+44 131 475 3000\n\n\n\n\nCanaccord Genuity Limited (Financial Adviser and Corporate Broker)\nHenry Fitzgerald-O'Connor, George Grainger\n\n\n+44 20 7523 8000\n\n\n\n\n \nDisclaimer\n \nCanaccord Genuity Limited (\"Canaccord Genuity\"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Capricorn Energy and no-one else in connection with the matters described in this an...