Last checked at 6 Apr 2010 07:00
**NOT FOR PUBLICATION, DISTRIBUTION OR RELEASEIN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, SOUTH AFRICA OR AUSTRALIA**
EnQuest PLC
Demergers effective and trading expected to commencein shares of EnQuest PLC
All of the conditions to the Petrofac Demergerand the Lundin Demerger have been satisfied and the Demergers have become effective.
Trading in EnQuest PLC Ordinary Shares under theticker "ENQ.L" is expected to commence on the London Stock Exchange at 8.00 amtoday.
CREST accounts of shareholders in Petrofac willbe credited with EnQuest PLC Ordinary Shares at 8.00 am today. In the case of Petrofacshareholders who hold their Petrofac ordinary shares in certificated form, sharecertificates in respect of EnQuest PLC Ordinary Shares will be dispatched to suchshareholders by 19 April 2010.
Conditional dealings in EnQuest PLC Ordinary Sharesare expected to commence on NASDAQ OMX Stockholm at 9.00 am CET today under the ticker"ENQ". Unconditional dealings in the Ordinary Shares on NASDAQ OMX Stockholm areexpected to commence on 9 April 2010, the date of Stockholm Admission.
Capitalised terms in this announcement are as definedin the Prospectus published by EnQuest PLC on 18 March 2010.
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For further information please contact:
J. P. MorganCazenove Tel: +44 (0)20 7588 2828
Bob McGuire
Steve Baldwin
Finsbury Tel: +44 (0)20 7251 3801
Andrew Mitchell
Conor McClafferty
Dorothy Burwell
Disclaimer
The information contained in this announcementis for background purposes only and does not purport to be full or complete. No reliancemay be placed for any purpose on the information contained in this announcement orits accuracy or completeness.
This announcement is not for publication or distribution,directly or indirectly, in or into the United States. The distribution of this announcementin certain jurisdictions may be restricted by law. Persons into whose possessionthis announcement comes should inform themselves about and observe any restrictionson the distribution of this announcement. Any failure to comply with these restrictionsmay constitute a violation of the securities laws of any such jurisdictions. Personsreceiving this announcement should not distribute or send it into any jurisdictionwhere to do so would or might contravene local securities laws or regulations.
This announcement does not constitute or form partof an offer to sell or issue or the solicitation of an offer to subscribe for orbuy, any Ordinary Shares to any person in any jurisdiction to whom or in which suchoffer or solicitation is unlawful and, in particular, is not for distribution orpublication in or into the United States, Canada, Australia, the Republic of SouthAfrica or Japan.
The Ordinary Shares have not been and will notbe registered under the US Securities Act of 1933, as amended (the "Securities Act")with any securities regulatory authority or under any securities laws of any stateor other jurisdiction of the United States and may not be taken up, offered, sold,resold, transferred, delivered or distributed, directly or indirectly, within, intoor from the United States except pursuant to an applicable exemption from, or ina transaction not subject to, the registration requirements of the Securities Actand in compliance with any applicable securities laws of any state or other jurisdictionof the United States. There will be no public offer of securities in the UnitedStates.
The Ordinary Shares have not been and will notbe registered under the applicable securities laws of Canada, Australia, the Republicof South Africa or Japan and subject to certain exceptions, the Ordinary Shares maynot be offered or sold in Canada, Australia, the Republic of South Africa or Japanor to, or for the account or benefit of, any resident of Canada, Australia, the Republicof South Africa or Japan. There will be no public offer of securities in Canada,Australia, the Republic of South Africa or Japan.
J.P. Morgan Securities Ltd. (which conducts itsUK investment banking activities as J.P. Morgan Cazenove), which is authorised andregulated in the United Kingdom by the FSA, is advising the Company and no one else(whether or not a recipient of this announcement) in connection with London Admission.J.P. Morgan Securities Ltd. will not regard any other person (whether or not a recipientof this announcement) as its client in relation to London Admission and will notbe responsible to anyone other than the Company for providing the protections affordedto its clients or for providing advice in relation to London Admission or any othertransaction, arrangement or matter referred to in this announcement.
None of J.P. Morgan Cazenove, Nordea Markets, RoyalBank of Canada Europe Limited and Oriel Securities Limited or any of their respectivedirectors, officers, employees, advisers or agents accepts any responsibility orliability whatsoever for/or makes any representation or warranty, express or implied,as to the truth, accuracy or completeness of the information in this announcement(or whether any information has been omitted from the announcement) or any otherinformation relating to the Company, its subsidiaries or associated companies, whetherwritten, oral or in a visual or electronic form, and howsoever transmitted or madeavailable or for any loss howsoever arising from any use of announcement or its contentsor otherwise arising in connection therewith.