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12 Apr 2012 10:42
12 April 2012
Dragon Oil plc ("Dragon Oil" or the "Company")
Notice of dividend currency exchange rates - 2011 final dividend
On 21 February 2012, Dragon Oil announced a final dividend of US cents 11 per share for 2011. Shareholders (other than shareholders holding their shares within CREST) with registered addresses in the UK are to be paid their dividends in pounds sterling. Those with registered addresses in European countries, which have adopted the euro, are to be paid in euro. Shareholders with registered addresses in all other countries are to be paid in US dollars. Shareholders were, however, given the option to elect to be paid their dividends in a currency other than their default currency, and were given a choice of US dollars, euro or pounds sterling provided such election was received by the Company's registrars by 30 March 2012.
The exchange rate for the pound sterling or euro amounts payable was determined by reference to the exchange rates applicable to the US dollar on the closest practicable date, being 12 April 2012, to the dividend payment date.
The following table details the currency exchange rates applicable for the 2011 final dividend:
Dividend US cents 11 per share
Exchange Rate
1 USD = 0.7598 EUR
1 USD = 0.6270 GBP
The final dividend of US cents 11 is subject to shareholder approval at the Annual General Meeting to be held in London, UK on 18 April 2012. If approved, the final dividend of US cents 11 is expected to be paid on 27 April 2012 to shareholders on the register as of 30 March 2012.
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