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19 Sep 2013 07:00
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For Immediate Release
19 September 2013
Statement regarding Exillon Energy plc (the "Company")
On 30 July 2013, the Company announced that it had received an approach from Mr Maksat Arip ("Mr Arip"), that may or may not lead to an offer being made for the Company. Mr Arip is a beneficiary of WS Settlement which is beneficially entitled to the 30.17% of the Company's shares held by its trustee Geoglobal Limited.
Mr Arip notes that the Company announced yesterday that it had decided to conduct a formal sale process as defined in the Takeover Code.
In order to conduct an effective process, Mr Arip recognises the importance of it being undertaken in a fully transparent manner with a level playing field for all prospective participants in the process. Mr Arip also acknowledges that this process is being led by the Company and its financial advisers. Mr Arip intends to remain independent of the prospective participants and the process and is reviewing all options but currently envisages participating in the process.
The Panel has confirmed that, subject to his continued participation in the formal sale process, Mr Arip will not be subject to a continued PUSU deadline in accordance with Note 2 on Rule 2.6 of the Takeover Code.
There can be no certainty an offer will be made, nor as to the terms on which any offer might be made. A further announcement will be made in due course, as and when appropriate.
Contacts:
College Hill Tel: +44 (0) 20 7457 2020
David Simonson
Tony Friend
Catherine Wickman
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