REG - Capricorn Energy PLC - Announcement re Circular re Q4 Return of Cash

Capricorn EnergyAnnouncement

15/09/2023 15:00

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RNS Number : 6559M  Capricorn Energy PLC  15 September 2023

 

 

FOR IMMEDIATE
RELEASE
15 September 2023

 

 

 

CAPRICORN ENERGY PLC ("Capricorn" or "the Company")

 

Return of US$100 million to shareholders

 

Following our Half-Year Results announcement yesterday, Capricorn is pleased
to report that a circular setting out the full details of the Q4 Return of
Cash and related matters (the "Circular") will be posted to Shareholders
today.

 

Pursuant to the Q4 Return of Cash, Capricorn will pay a special dividend of 56
pence per existing ordinary share amounting to a return of approximately
US$100 million (c.£79.09 million) to Shareholders and complete a
consolidation of Capricorn's ordinary share capital. The special dividend is
expected to be paid on 20 October 2023 to those on the register at 6.00 p.m.
on 5 October 2023.

 

The Share Consolidation will reduce the number of Capricorn's issued ordinary
shares by an amount that reflects the value of the Q4 Return of Cash to
Shareholders relative to the market capitalisation of Capricorn prior to the
Q4 Return of Cash. As such, every 3 existing ordinary shares of 490/143 pence
each will be replaced by 2 new ordinary shares of 735/143 pence each (subject
to fractional entitlements) so as to reduce the number of shares in issue to
reflect the amount of cash to be returned to Shareholders. The aim of this is
to ensure, so far as possible, the market price of an ordinary share remains
approximately the same before and after the proposed Q4 Return of Cash and to
maintain comparability of historical and future per share data. The Share
Consolidation will reduce the number of ordinary shares in Capricorn which
shareholders own, but not the proportion (subject to allowance for fractional
entitlements).

 

 

Circular to Shareholders

 

Capricorn is today posting a circular to Shareholders in connection with the
Q4 Return of Cash. The Circular contains a notice convening a General Meeting
of Capricorn Shareholders where Shareholders will be asked to approve the Q4
Return of Cash and matters ancillary thereto. The General Meeting will be held
at Capricorn's head office at 50 Lothian Road, Edinburgh EH3 9BY at 10.00 a.m.
on 5 October 2023. Further information on the arrangements for the General
Meeting is set out in Part I of the Circular.

 

The Circular will shortly be available for viewing on the investors section of
Capricorn's website at
www.capricornnenergy.com/investors/shareholder-information/. A copy of the
Circular will also be submitted to the National Storage Mechanism and will
shortly be available for inspection on its website at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

 

Key dates

 

Latest time and date for receipt of Electronic Proxy

Instructions, Form of Proxy or CREST Proxy

Instruction in respect of General
Meeting
10.00 a.m. on 3 October 2023

General
Meeting
10.00 a.m. on 5 October 2023

Latest time and date for dealings in Existing

Ordinary
Shares
4.30 p.m. on 5 October 2023

Record Time for entitlement to the Special Dividend and to determine the
Existing Ordinary Shares subject to the Share Consolidation (Existing Ordinary
Share register closed and Existing

Ordinary Shares disabled in
CREST)
6.00 p.m. on 5 October 2023

Ordinary Shares marked ex-Special
Dividend
8.00 a.m. on 6 October 2023

Listing of the New Ordinary
Shares
8.00 a.m. on 6 October 2023

Dealings in the New Ordinary Shares commence

and enablement in CREST in respect of

uncertificated New Ordinary
Shares
8.00 a.m. on 6 October 2023

Despatch of share certificates in respect of

certificated New Ordinary
Shares
         20 October 2023

Payment of Special Dividend to
Shareholders
20 October 2023

All dates are subject to change. If any of the above times or dates change,
the revised times and / or dates will be notified to Shareholders by an
announcement on an RIS.

 

 Enquiries to:

 Analysts/Investors

 Nathan Piper, Commercial Director   Tel: 0131 475 3000

 Media
 Diana Milford, Corporate Affairs    Tel: 0131 475 3000

 Billy Clegg/Owen Roberts, Camarco   Tel: 0203 757 4980

 

Notes to Editors

 

Unless otherwise stated, defined terms set out in this announcement have the
same meaning as in the Circular posted to Shareholders today.

 

About Capricorn Energy PLC

 

Find out more about Capricorn at www.capricornenergy.com.

 

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