25 Nov 2013 07:48
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM, ANY RESTRICTED JURISDICTIONS OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
25 November 2013
For Immediate Release
Statement regarding Exillon Energy plc (the "Company")
On 18 September 2013, the Company announced that it had decided to conduct a formal sale process as defined in the Takeover Code.
On 19 September 2013, Mr Maksat Arip ("Mr Arip") announced, amongst other things, that he was reviewing all his options but envisaged participating in the process. Subsequently, the Panel confirmed that, subject to Mr Arip's continued participation in the formal sale process, he would not be subject to a continued PUSU deadline in accordance with Note 2 on Rule 2.6 of the Takeover Code.
Mr Arip now confirms that he no longer intends to make an offer for the Company.
As a result of this announcement, Mr Arip will, except with the consent of the Panel, be bound by the restrictions contained in Rule 2.8 of the Takeover Code. For the purposes of Rule 2.8 of the Takeover Code, Mr Arip reserves the right to make or participate in an offer for the Company (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Takeover Code) within the next six months following the date of this announcement in the circumstances set out in Note 2 on Rule 2.8 of the Takeover Code.
Contact:
College Hill
David Simonson Tel: +44 (0) 20 7457 2020Tony FriendCatherine Wickman