Cadogan Regulatory News (CAD)

18 Jun 2008 07:28



18 June 2008

Stabilisation Notice: Cadogan Petroleum plc

In connection with the Global Offer in relation to the following Ordinary Shares:

Cadogan Petroleum plc Ordinary Shares of £0.03 each

ISIN Code: GB00B12WC938

UBS Limited as stabilisation manager, or any other person acting for it may, over-allot and effect other transactions with a view to supporting the market price of the Ordinary Shares at a level higher than that which might otherwise prevail from 8:00a.m. on 18 June 2008 to 18 July 2008. However, there is no obligation on UBS Limited, or any agent of UBS Limited, to do this. Such transactions, if any, may be effected on the London Stock Exchange and any other securities market, over the counter market, stock exchange or otherwise. Such stabilising, if commenced, may be discontinued at any time and must be brought to an end no later than 18 July 2008.

In connection with its stabilising activities certain Selling Shareholders have granted UBS Limited an over-allotment arrangement, exercisable on or before 18 July 2008 which, if exercised will require certain Selling Shareholders to sell up to 15 per cent. of the aggregate number of Ordinary Shares available in the Global Offer (before any exercise of the Over-allotment Option) at the Offer Price to cover short positions arising from such over-allotments (if any) and/or sales of Ordinary Shares effected by it during the stabilising period.

UBS Limited has agreed with such Selling Shareholders that any over-allotment of Ordinary Shares by it or any of its agents will be up to a maximum of 15 per cent. of the total number of Ordinary Shares comprised in the Global Offer (before any exercise of the Over-allotment Option).

Number of Ordinary Shares in the Global Offer: 66,443,479

Number of Ordinary Shares subject to the over-allotment option: 9,966,514 

The offer price of Cadogan Petroleum plc Ordinary Shares of £0.03 each was set at 230p on 18 June 2008

UBS Limited contacts: 

 Chris Swale +44 20 7568 8379

This announcement may not be distributed, directly or indirectly, in or into the United States, Australia or Japan.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of Cadogan Petroleum plc in any jurisdiction.

In addition, if and to the extent that this announcement is communicated in, or the offer of the securities to which it relates is made in, any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive") before the publication of a prospectus in relation to the securities which has been approved by the competent authority in that Member State in accordance with the Prospectus Directive (or which has been approved by a competent authority in another Member State and notified to the competent authority in that Member State in accordance with the Prospectus Directive), this announcement and the Global Offer are only addressed to and directed at persons in that Member State who are qualified investors within the meaning of the Prospectus Directive (or who are other persons to whom the offer may lawfully be addressed) and must not be acted on or relied on by other persons in that Member State.

The Global Offer and the distribution of this announcement and other information in connection with the Global Offer in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement is not an offer to sell, or a solicitation of an offer to buy, securities into or in the United States. The securities have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or otherwise transferred in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States.

UBS and Fox-Davies are acting for Cadogan and no one else in connection with the IPO and will not be responsible to anyone other than Cadogan for providing the protections afforded to their respective clients, nor for providing advice in relation to the IPO, the contents of this announcement, or any transaction or arrangement referred to herein.

Defined terms used in this announcement have the same meaning as in the Company's Prospectus dated 18 June 2008 unless the context requires otherwise

Stabilisation/FSA

END