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2 May 2025 14:57
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) Jonathan Copus (Chief Financial Officer) Craig Baxter (Head of Investor Relations) | +44 20 7925 4900 |
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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