REG - Caspian Sunrise plc - UK Oil Company Windfall Tax & Dividend Update

Caspian SunriseAnnouncement

30/05/2022 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220530:nRSd1597Na&default-theme=true

RNS Number : 1597N  Caspian Sunrise plc  30 May 2022

Caspian Sunrise PLC

UK Oil Company Windfall Tax & Dividend Update

 

UK Oil Company Windfall Tax

For the avoidance of doubt the Board is pleased to confirm that the UK's new
windfall tax on oil companies applies only to companies operating in the North
Sea or the Continental Shelf and therefore does not apply to Caspian Sunrise.

 

Dividends

On 27 May 2022 the High Court of England and Wales approved the draft order to
effect the Company's cancellation of its share premium account and its
deferred shares. A final hearing is expected to be held before the end of June
2022, where the Company expects the High Court will confirm the cancellation
can proceed, clearing the way for Caspian Sunrise to make dividend
distributions to shareholders.

 

It is the Company's intention that such dividend distributions commence on a
quarterly basis starting in July 2022.

 

Caspian Sunrise PLC

 

Clive Carver

Executive
Chairman
+7 727 375 0202

 

WH Ireland, Nominated Adviser & Broker

 

James
Joyce
+44 (0) 207 220 1666

Andrew de Andrade

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFLFFFELIAFIF