Last checked at 18 Jun 2012 12:08
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY 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
18 June 2012
STATEMENT BY ONGC VIDESH LIMITED ("OVL") AND GAIL (INDIA) LIMITED ("GAIL")
No intention to make an offer for Cove Energy plc ("Cove")
On 28 February 2012, OVL and GAIL (together the "Consortium") made an announcement confirming their participation in the formal sale process announced by Cove on 5 January 2012.
Further to that announcement, in accordance with Rule 2.8 of The City Code on Takeovers and Mergers, the Consortium announces that it is no longer exploring an offer for all of the issued and to be issued share capital of Cove, and therefore that each of OVL and GAIL (and any person acting in concert with either of them) are subject to the restrictions imposed by Rule 2.8.