Business
Significant Transaction: Update Under New UK Rules
Significant Transaction: Update Under New UK Rules.
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 ON THE BASIS OF ITS CONTENTS. A CIRCULAR AND PROSPECTUS IN RELATION TO THE COMBINATION DESCRIBED IN THIS ANNOUNCEMENT WILL EACH BE PUBLISHED IN DUE COURSE.\n \n29 July 2024\n \nIthaca Energy plc (\"Ithaca Energy\", the \"Company\" or the \"Group\")\n \nSignificant Transaction - Update Under New UK Listing Rules\n \nOn 23 April 2024, Ithaca Energy announced its transformational combination with substantially all of Eni S.p.A.'s (\"Eni\") UK upstream oil and gas assets (the \"Eni UK Business\") (the \"Combination\" and the \"Combination Announcement\"):\n \nhttps://www.londonstockexchange.com/news-article/ITH/transformational-combination-with-eni-uk/16437193\n \nTerms not otherwise defined in this announcement have the same meaning as defined in the Combination Announcement.\n \nFollowing the implementation of the new UK Listing Rules, issued by the FCA pursuant to Part VI of FSMA and contained in the publication of the same name (\"UKLRs\") which came into force earlier today, the Combination will no longer be treated as a Class 1 transaction, but will instead be classified as a Significant Transaction under the UKLRs due to the size of the Eni UK Business relative to the size of Ithaca Energy.\n \nIn addition to the information disclosed in the Combination Announcement, Ithaca Energy announced on 28 May 2024 that Luciano Vasques, currently Managing Director of Eni UK Limited, has been proposed to be appointed as Chief Executive Officer of the Company effective on completion of the Combination (the \"Board Changes Announcement\"):\n \nhttps://www.londonstockexchange.com/news-article/ITH/board-of-directors-executive-management-changes/16489453\n \nThe Company confirms that the information contained in the Combination Announcement and the Board Changes Announcement satisfies the requirements of...