Business
Rule 2.8 Announcement
Rule 2.8 Announcement.
About this update from Enquest Plc
[{"type":"text","content":"\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 OR REGULATIONS OF THAT JURISDICTION\n \nTHIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\")\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\n2 May 2025\n \nEnQuest plc (\"EnQuest\" or the \"Company\")\nStatement regarding Serica Energy plc (\"Serica\")\nFurther to the announcements made by Serica and EnQuest regarding a possible all-share offer for Serica by EnQuest, EnQuest confirms that in light of current market volatility it has not been possible to reach an agreement on terms. EnQuest therefore confirms that it does not intend to make a firm offer for Serica.\nThis announcement is made in accordance with Rule 2.8 of the Code. As a result of this announcement, EnQuest, together with any person(s) acting in concert with it, will be bound by the restrictions contained in Rule 2.8 of the Code.\nUnder Note 2 on Rule 2.8 of the Code, EnQuest and any person(s) acting in concert with it reserve the right to set aside the restrictions in Rule 2.8 of the Code in the following circumstances:\n· with the agreement or recommendation of the Board of Directors of Serica;\n· following the announcement of a firm intention to make an offer for Serica, by or on behalf of a third party;\n· following the announcement by Serica of a Rule 9 waiver proposal (as described in Note 1 on the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover (as defined in the Code); or\n· if the Panel on Takeovers and Mergers determines there has been a material change of circumstances.\n \nFor further information, please contact:\n\n\n\n\nEnQuest\n\n\n\n\nAmjad Bseisu (Chief Executive Officer)\nJonathan Copus (Chief Financial Officer) \nCraig Baxter (Head of Investor Relations)\n\n\n+44 20 7925 4900\n\n\n\n\n \nFurther information\nThis announcement is not intended to and does not constitute an offer to buy or the solicitation of an offer to subscribe for or sell or an invitation to purchase or subscribe for any securities or the solicitation of any vo...