REG - EnQuest PLC Serica Energy PLC - Rule 2.8 Announcement

EnquestAnnouncement

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RNS Number : 2976H  EnQuest PLC  02 May 2025

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 OR REGULATIONS OF THAT JURISDICTION

 

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS
AND MERGERS (THE "CODE")

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

2 May 2025

 

EnQuest plc ("EnQuest" or the "Company")

Statement regarding Serica Energy plc ("Serica")

Further to the announcements made by Serica and EnQuest regarding a possible
all-share offer for Serica by EnQuest, EnQuest confirms that in light of
current market volatility it has not been possible to reach an agreement on
terms. EnQuest therefore confirms that it does not intend to make a firm offer
for Serica.

This announcement is made in accordance with Rule 2.8 of the Code. As a result
of this announcement, EnQuest, together with any person(s) acting in concert
with it, will be bound by the restrictions contained in Rule 2.8 of the Code.

Under Note 2 on Rule 2.8 of the Code, EnQuest and any person(s) acting in
concert with it reserve the right to set aside the restrictions in Rule 2.8 of
the Code in the following circumstances:

·      with the agreement or recommendation of the Board of Directors of
Serica;

·      following the announcement of a firm intention to make an offer
for Serica, by or on behalf of a third party;

·      following the announcement by Serica of a Rule 9 waiver proposal
(as described in Note 1 on the Notes on Dispensations from Rule 9 of the Code)
or a reverse takeover (as defined in the Code); or

·      if the Panel on Takeovers and Mergers determines there has been a
material change of circumstances.

 

For further information, please contact:

 EnQuest
 Amjad Bseisu (Chief Executive Officer)         +44 20 7925 4900

 Jonathan Copus (Chief Financial Officer)

 Craig Baxter (Head of Investor Relations)

 

Further information

This announcement is not intended to and does not constitute an offer to buy
or the solicitation of an offer to subscribe for or sell or an invitation to
purchase or subscribe for any securities or the solicitation of any vote in
any jurisdiction. The release, publication or distribution of this
announcement in whole or in part, directly or indirectly, in, into or from
certain jurisdictions may be restricted by law and therefore persons in such
jurisdictions should inform themselves about and observe such restrictions.

 

Publication on website and hard copies

A copy of this announcement and the documents required to be published by Rule
26 of the Code will be made available, subject to certain restrictions
relating to persons resident in Restricted Jurisdictions, on EnQuest's website
at www.EnQuest.com by no later than 12 noon (London time) on the business day
following the date of this announcement. For the avoidance of doubt, the
contents of those websites are not incorporated into and do not form part of
this announcement.

Inside Information

The information contained within this announcement is deemed by EnQuest to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) no. 596/2014 (as it forms part of domestic law by virtue of the European
Union (Withdrawal) Act 2018). On the publication of this announcement via a
Regulatory Information Service, this inside information is now considered to
be in the public domain.

 

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