Business
Recommended cash acquisition of Deltic Energy PLC
NEO NEXT+ Energy Upstream UK Limited has agreed to acquire Deltic Energy PLC for 7.7 pence per share in cash, valuing Deltic at approximately £7.2 million. This offer represents a 156.7% premium to Deltic's closing price on April 21, 2026. The acquisition, to be effected by a scheme of arrangement, is recommended by Deltic's directors, who cite challenging market conditions and significant deferred liabilities as reasons for accepting the offer. NEO NEXT+ will also provide Deltic with a bridging loan of up to £2.9 million. The transaction is expected to complete in the third quarter of 2026. Disclaimer*
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.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\n7 May 2026\nRECOMMENDED CASH ACQUISITION OF\nDELTIC ENERGY PLC (\"DELTIC\" OR THE \"COMPANY\")\nBY\nNEO NEXT+ ENERGY UPSTREAM UK LIMITED (\"NEO NEXT+\")\nto be effected by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006\nSummary\n· The boards of NEO NEXT+ and Deltic are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Deltic (the \"Acquisition\").\n· Under the terms of the Acquisition, which will be subject to the Conditions and other terms set out in this Announcement and to the full terms and conditions to be set out in the Scheme Document, Deltic Shareholders will be entitled to receive:\nfor each Deltic Share: 7.7 pence in cash\n(the \"Cash Consideration\")\nThe Cash Consideration represents a premium of approximately 156.7 per cent. to the Closing Price of 3.0 pence per Deltic Share on 21 April 2026 (being the last trading day before the commencement of the Offer Period).\nThe Acquisition values the entire issued and to be issued share capital of Deltic at approximately £7.2 million on a fully diluted basis.\nIf, on or after the date of this Announcement and on or prior to the Effective Date, any dividend and/or other distribution and/or return of capital is authorised, declared, made or paid or becomes payable in respect of the Deltic Shares, NEO NEXT+ reserves the right to reduce the Cash Consideration payable under the terms of the Acquisition by an amount equal to all or part of any such dividend and/or other distribution and/or return of capital, in which case Deltic Shareholders would be entitled to receive and retain any such dividend and/or other distribution and/or return of capital. Any ...