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RECOMMENDED CASH ACQUISITION OF DELTIC ENERGY PLC
RECOMMENDED CASH ACQUISITION OF DELTIC ENERGY PLC.
About this update from Deltic Energy Plc
[{"type":"text","content":"\n\nNOT 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 SUCH JURISDICTION. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE\n30 June 2025\nRECOMMENDED CASH ACQUISITION OF\nDELTIC ENERGY PLC (\"Deltic\" or the \"Company\")\nBY\nROCKROSE ENERGY LIMITED (\"Viaro Bidco\")\n(A WHOLLY-OWNED SUBSIDIARY OF VIARO ENERGY LIMITED (\"Viaro Energy\" or \"Viaro\"))\nto be effected by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006\nSummary\n· The boards of Viaro Bidco and Deltic are pleased to announce that they have reached agreement on the terms of a recommended cash offer for the entire issued and to be issued ordinary share capital of Deltic (the \"Acquisition\"). It is intended that the Acquisition will be implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act.\n· Under the terms of the Acquisition, each Deltic Shareholder will be entitled to receive:\nFor each Deltic Share: 7.46 pence in cash\n(the \"Cash Consideration\")\n· The Cash Consideration represents a premium of approximately:\no 36 per cent. to the Closing Price of 5.50 pence per Deltic Share on 27 June 2025 (being the last trading day before the commencement of the Offer Period);\no 34 per cent. to the volume weighted average price of 5.55 pence per Deltic Share for the one-month period to 27 June 2025 (being the last trading day before the commencement of the Offer Period);\no 38 per cent. to the volume weighted average price of 5.41 pence per Deltic Share for the three-month period to 27 June 2025 (being the last trading day before the commencement of the Offer Period); and\no 56 per cent. to the volume weighted average price of 4.79 pence per Deltic Share for the six-month period to 27 June 2025 (being the last trading day before the commencement of the Offer Period).\nThe Acquisition values the enti...