REG - Deltic Energy PLC - Statement re share price movement & possible offer

Deltic EnergyAnnouncement

22/04/2026 16:15

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RNS Number : 5422B  Deltic Energy PLC  22 April 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 JURISDICTION.

 

This is an announcement UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND
MERGERS (THE "TAKEOVER CODE" or the "CoDE") of a possible offer and is not an
announcement of a firm intention to make an offer under Rule 2.7 of the
TAKEOVER Code. there can be no certainty that an offer will be made, nor as to
the terms on WHICH any offer will be made.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
MARKET ABUSE REGULATIONS ("MAR").

 

22 April 2026

 

Deltic Energy Plc ("Deltic" or "the Company")

 

Statement re share price movement and possible offers for Deltic

 

The Board of Deltic (the "Board") notes the recent movement in the Company's
share price.

 

The Company confirms that it is currently in discussions with three parties,
being (i) Capricorn Energy PLC ("Capricorn Energy"); (ii) Petrogas
International E&P Coöperatief U.A. ("Petrogas"), a subsidiary of Mohammed
Al Barwani LLC; and (iii) Blue Concept Hld AS ("Blue Concept"), a private
Norwegian company (each a "Potential Offeror"), which have each separately
approached the Company regarding possible cash offers for the entire issued
and to be issued ordinary share capital of the Company.

 

There can be no certainty that any of the above discussions will result in an
offer being made for the Company, nor as to the terms on which any such offer
may be made.

 

In accordance with Rule 2.6(a) of the Takeover Code, each of the Potential
Offerors is required to announce either a firm intention to make an offer for
Deltic (pursuant to Rule 2.7 of the Takeover Code) or that it does not intend
to make an offer (in which case the announcement will be treated as a
statement to which Rule 2.8 of the Takeover Code applies) by 5:00pm on 20 May
2026 (being the 28th day following the date of this announcement), unless the
Panel on Takeovers and Mergers (the "Takeover Panel") has consented to an
extension of this deadline in accordance with Rule 2.6(c) of the Takeover
Code.

 

The Deltic Directors will carefully consider proposals from the Potential
Offerors in conjunction with the Company's advisers.

 

As a consequence of this announcement, an "Offer Period" has now commenced in
respect of the Company in accordance with the rules of the Takeover Code and
the dealing disclosure requirements listed below will apply.

 

Allenby Capital Limited is acting as financial adviser to the Company in
relation to the Takeover Code.

 

A further announcement will be made as and when appropriate.

 

This announcement is being made without the approval of the Potential
Offerors.

 

 

**ENDS**

 

For further information please contact the following:

 

 Deltic Plc                                                                  Tel: +44 (0) 20 7887 2630

 Andrew Nunn / Sarah McLeod

 Allenby Capital Limited (Nominated Adviser and Financial Adviser)           Tel: +44 (0) 20 3328 5656
 David Hart / Alex Brearley (Corporate Finance)

 

 

Disclosure requirements of the Takeover Code (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, 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 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 disclosure

As at the date of this announcement, Deltic has in issue 93,096,600 ordinary
shares of 10p each ("Ordinary Shares"), with one voting right per Ordinary
Share. No shares are held in treasury. The International Securities
Identification Number (ISIN) of Deltic's Ordinary Shares is GB00BNTY2N01 and
the LEI number is 213800TS8K1D27AFP275.

 

Additional information

This announcement is not intended to, and does not, constitute or form part of
any offer, invitation or the solicitation of an offer to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of, any securities, or the
solicitation of any vote or approval in any jurisdiction, pursuant to this
announcement or otherwise. Any offer, if made, will be made solely by certain
offer documentation which will contain the full terms and conditions of any
offer, including details of how it may be accepted.

 

The release, publication or distribution of this announcement in certain
jurisdictions may be restricted by law. Persons who are not resident in the
United Kingdom or who are subject to other jurisdictions should inform
themselves of, and observe, any applicable requirements.

 

Allenby Capital Limited ("Allenby Capital"), is authorised and regulated by
the Financial Conduct Authority in the United Kingdom. Allenby Capital is
acting as financial adviser and nominated adviser exclusively for Deltic and
no one else in connection with the matters set out in this announcement and
will not regard any other person as its client in relation to the matters set
out in this announcement and will not be responsible to anyone other than
Deltic for providing the protections afforded to clients of Allenby Capital or
its affiliates, or for providing advice in relation to the contents of this
announcement or any other matter referred to herein.  Neither Allenby
Capital, 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 Allenby
Capital in connection with this announcement, any statement contained herein
or otherwise.

 

Publication on a website

In accordance with Rule 26.1 of the Code, a copy of this announcement will be
available at https://www. Deltic.com. The content of the website referred to
in this announcement is not incorporated into and does not form part of this
announcement.

 

UK MAR

The information contained within this announcement is considered by the
Company to constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2000. Upon the publication of this
announcement via a Regulatory Information Service, this inside information
will be considered to be in the public domain.

 

 

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