REG - Pharos Energy PLC Ratio Petroleum Enrg - Publication and Posting of Scheme Document

About this update from Ratio Petroleum Energy Lp

RNS Number : 1155N Pharos Energy PLC 21 July 2026 NOT 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 JURISDICTIONFOR IMMEDIATE RELEASE21 July 2026RECOMMENDED ACQUISITIONofPharos Energy plc ("Pharos")byRatio Petroleum Energy LP ("Ratio")to be effected by means of a scheme of arrangementunder Part 26 of the Companies Act 2006PUBLICATION AND POSTING OF SCHEME DOCUMENTOn 24 June 2026, the boards of Pharos and Ratio announced that they had reached agreement on the terms of a recommended cash acquisition pursuant to which Ratio will acquire the entire issued and to be issued share capital of Pharos for an offer price of up to 28 pence per Pharos Share (the "Acquisition"). The Acquisition is being effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme").Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Scheme Document (as defined below).Publication of the Scheme DocumentThe Pharos Directors are pleased to announce the publication of the scheme document in relation to the Acquisition (the "Scheme Document") which, together with the associated Forms of Proxy, is today being posted by Pharos to Pharos Shareholders and, for information only, persons with information rights.The Scheme Document contains, amongst other things, a letter from the Chair of Pharos, the full terms and conditions of the Scheme, the Scheme, an explanatory statement pursuant to section 897 of the Companies Act 2006, an expected timetable of principal events, notices of the Court Meeting and the General Meeting, and details of the actions to be taken by Scheme Shareholders entitled to vote at the Court Meeting and Pharos Shareholders entitled to vote at the General Meeting in relation to the Acquisition.The Scheme Document will be made available (subject to any applicable restrictions relating to persons in, or resident in, Restricted Jurisdictions) for inspection free of charge, on Pharos' website at https://www.pharos.energy/investors/offer and on Ratio's website at https://ratiopetroleum.com/offer-disclaimer/ no later than 12 noon on the Business Day following the publication of the Scheme Document and will ...

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