Business
Circulation & Prospectus of ENI SPA's UK Assets
Circulation & Prospectus of ENI SPA's UK Assets.
About this update from Ithaca Energy Plc
[{"type":"text","content":"\n\nFOR IMMEDIATE RELEASE\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. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\n \nTHIS IS AN ANNOUNCEMENT AND NOT A CIRCULAR OR PROSPECTUS OR EQUIVALENT DOCUMENT AND INVESTORS AND PROSPECTIVE INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION IN RELATION TO THE COMBINATION EXCEPT ON THE BASIS OF THE INFORMATION IN THE CIRCULAR AND PROSPECTUS WHICH ARE BEING PUBLISHED TODAY.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n22 August 2024\n \nIthaca Energy plc (\"Ithaca Energy\" or the \"Group\")\n \nPublication of Circular and Prospectus in connection with proposed combination with substantially all of Eni S.p.A.'s (\"Eni\") UK Upstream Oil and Gas Assets\n \nIthaca Energy is pleased to announce that it has today, following receipt of approval from the Financial Conduct Authority (the \"FCA\"), published its prospectus (the \"Prospectus\") and its shareholder circular (the \"Circular\") in relation to the proposed combination with substantially all of Eni S.p.A.'s UK upstream oil and gas assets (the \"Eni UK Business\") (the \"Combination\"). A general meeting of Ithaca Energy's shareholders will be digitally enabled, in accordance with the provisions of the Company's articles of association, and will be held at 3 p.m. on 11 September 2024 (the \"General Meeting\") to consider and approve the allotment and issue of the new ordinary shares to Eni UK in connection with the Combination. Full details and joining instructions are set out in the Notice of the General Meeting contained in the Circular.\n \nNetherland, Sewell & Associates, Inc. (\"NSAI\") have prepared an independent competent person's report on both the Eni UK Business and Ithaca Energy's existing portfolio (together the \"Combined Group\"), which is included in full in the Prospectus. NSAI has certified that, as at 30 June 2024, the Combined Group had c.342 mmboe of 2P oil and gas reserves and c.290 mmboe of 2C contingent resources.\n \nThe publication of the Circular and Prospectus marks another important milestone towards completion of the Combination, which is expected to ...