REG - Ratio Petroleum Enrg Pharos Energy PLC - Correction re Ratio Offer Rule 13.5(a) conditions

About this update from Ratio Petroleum Energy Lp

RNS Number : 0423O Ratio Petroleum Energy - LP 27 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 RELEASE27 July 2026CASH 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 2006CORRECTION REGARDING RATIO OFFER CONDITIONS SUBJECT TO RULE 13.5(a)On 24 June 2026, the boards of Pharos and Ratio announced that they had reached agreement on the terms of a 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 "Rule 2.7 Announcement") (the "Ratio Offer"). The Ratio Offer is being effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). The scheme document in connection with the Ratio Offer was published to Pharos Shareholders on 21 July 2026 (the "Scheme Document").Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Scheme Document (as defined below).Correction regarding Ratio Offer Conditions subject to Rule 13.5(a)In error, the Rule 2.7 Announcement and the Scheme Document stated that Conditions 3.1.1, 3.1.2, 3.1.3 and 3.1.6 (as set out in Part A of Part 4 of the Scheme Document) are not subject to Rule 13.5(a) of the Code. The Panel on Takeovers and Mergers (the "Panel") has confirmed that these Conditions are, however, subject Rule 13.5(a) of the Code and can therefore be invoked only with the consent of the Panel in accordance with that Rule.Only Condition 1 and Conditions 2.1, 2.2, 2.3 and 2.4 of Part A of Part 4 of the Scheme Document are not subject to Rule 13.5(a) of the Code.Save as set out in this announcement, all other terms and conditions of the Ratio Offer remain unchanged.Enquiries:Ratio Petroleum Energy LPTo be contacted via Shore CapitalItay Raphael, Chief Executive OfficerAlon Sela, PRShore Capital (Financial Adviser to Ratio)+44 (0) 20 7408 4090Toby GibbsBen CanningLucy BowdenImportant noticesShore Capital and Corporate Limited ("Shore Capital"), which is authorised and regulated by the Financial ...

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