REG - Capricorn Energy PLC - Response to Deltic Energy statement

Capricorn EnergyAnnouncement

Today 17:45

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RNS Number : 5543B  Capricorn Energy PLC  22 April 2026

NOT 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 IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS
AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM
INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO
CERTAINTY THAT ANY FIRM OFFER WILL BE MADE NOR AS TO THE TERMS ON WHICH ANY
OFFER MIGHT BE MADE

FOR IMMEDIATE RELEASE

 

22 April 2026

 

Capricorn Energy PLC ("Capricorn Energy")

 

Response to statement regarding possible offer for Deltic Energy plc ("Deltic
Energy")

 

Capricorn Energy notes today's announcement by Deltic Energy and confirms that
it has been in discussions regarding a possible offer for Deltic Energy.

 

A further announcement will be made if and when appropriate. Shareholders are
advised to take no action at this stage. There can be no certainty that any
firm offer will be made nor as to the terms on which any offer might be made.

 

 

Contact Information:

 

 Capricorn Energy plc

 Randy Neely, Chief Executive Officer                                +44 131 475 3000

 Canaccord Genuity Limited (Financial Adviser and Corporate Broker)  +44 20 7523 8000

 Henry Fitzgerald-O'Connor, George Grainger

 

Disclaimer

 

Canaccord Genuity Limited ("Canaccord Genuity"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority, is acting
exclusively for Capricorn Energy and no-one else in connection with the
matters described in this announcement and will not be responsible to anyone
other than Capricorn Energy for providing the protections afforded to clients
of Canaccord Genuity nor for providing advice in relation to the subject
matter of this announcement. Neither Canaccord Genuity nor any of its
affiliates owes or accepts any duty, liability or responsibility whatsoever
(whether direct or indirect, whether in contract, in tort, under statute or
otherwise) to any person who is not a client of Canaccord Genuity in
connection with this announcement, any statement contained herein or
otherwise.

 

Rule 2.4(c)(iii) disclosure

 

As at today's date, Capricorn Energy holds an interest in 1,000,000 ordinary
shares of Deltic Energy, representing approximately 1.1 per cent. of Deltic
Energy's issued ordinary share capital. Pursuant to Rule 2.4(c)(iii) of the
Code, if Capricorn Energy were to make an offer for Deltic Energy, under Rule
6 of the Code, Capricorn Energy would be required to make an offer with a
value of not less than 3.00 pence per Deltic Energy share.

 

In addition, prior to this announcement it has not been practicable for
Capricorn Energy to make enquiries of all persons acting in concert with it to
determine whether any dealings in Deltic Energy shares by such persons give
rise to a further requirement under Rule 6 or Rule 11 of the Code for
Capricorn Energy, if it were to make an offer for Deltic Energy, to offer any
minimum level, or particular form, of consideration. Any such details shall be
announced as soon as practicable and in any event by no later than the
deadline for Capricorn Energy's Opening Position Disclosure.

 

Dealing Disclosure Requirements of the Code

 

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of
any class of relevant securities of an offeree company or of any securities
exchange offeror (being any offeror other than an offeror in respect of which
it has been announced that its offer is, or is likely to be, solely in cash)
must make an Opening Position Disclosure following the commencement of the
offer period and, if later, following the announcement in which any securities
exchange offeror is first identified. An Opening Position Disclosure must
contain details of the person's interests and short positions in, and rights
to subscribe for, any relevant securities of each of (i) the offeree company
and (ii) any securities exchange offeror(s). An Opening Position Disclosure by
a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm
(London time) on the 10th business day following the commencement of the offer
period and, if appropriate, by no later than 3.30 pm (London time) on the 10th
business day following the announcement in which any securities exchange
offeror is first identified. Relevant persons who deal in the relevant
securities of the offeree company or of a securities exchange offeror prior to
the deadline for making an Opening Position Disclosure must instead make a
Dealing Disclosure.

 

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1%
or more of any class of relevant securities of the offeree company or of any
securities exchange offeror must make a Dealing Disclosure if the person deals
in any relevant securities of the offeree company or of any securities
exchange offeror. A Dealing Disclosure must contain details of the dealing
concerned and of the person's interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree company and
(ii) any securities exchange offeror(s), save to the extent that these details
have previously been disclosed under Rule 8. A Dealing Disclosure by a person
to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London
time) on the business day following the date of the relevant dealing.

 

If two or more persons act together pursuant to an agreement or understanding,
whether formal or informal, to acquire or control an interest in relevant
securities of an offeree company or a securities exchange offeror, they will
be deemed to be a single person for the purpose of Rule 8.3.

 

Opening Position Disclosures must also be made by the offeree company and by
any offeror and Dealing Disclosures must also be made by the offeree company,
by any offeror and by any persons acting in concert with any of them (see
Rules 8.1, 8.2 and 8.4).

 

Details of the offeree and offeror companies in respect of whose relevant
securities Opening Position Disclosures and Dealing Disclosures must be made
can be found in the Disclosure Table on the Takeover Panel's website at
www.thetakeoverpanel.org.uk (http://www.thetakeoverpanel.org.uk) , including
details of the number of relevant securities in issue, when the offer period
commenced and when any offeror was first identified. You should contact the
Takeover Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in
any doubt as to whether you are required to make an Opening Position
Disclosure or a Dealing Disclosure.

 

Rule 2.9 Information

 

In accordance with Rule 2.9 of the Code, as at the close of business on the
business day immediately prior to the date of this announcement, Capricorn
Energy confirms that it had in issue 70,558,339 ordinary shares with par value
of 799 / 122 pence per share, each carrying one vote. The International
Securities Identification Number (ISIN) for Capricorn Energy ordinary shares
is GB00BNKT5L33 and Capricorn Energy's legal entity identifier is
213800ZJEUQ8ZOC9AL24.

 

Publication on Website

 

A copy of this announcement will be made available (subject to certain
restrictions relating to persons resident in restricted jurisdictions) at
https://www.capricornenergy.com no later than 12:00 noon (UK time) on the
business day following the date of this announcement in accordance with Rule
26.1 of the Code.  The content of the website referred to in this
announcement is not incorporated into and does not form part of this
announcement.

 

 

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