17 Jun 2009 10:54
LONDON, 17 JUNE 2009
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
Closing of the Recommended Cash Offer for Minority Shareholdings in Sibir Energy Plc ("Sibir") on behalf of JSC Gazprom Neft ("Gazprom Neft")
On 27 May 2009, Renaissance Securities (Cyprus) Limited ("Renaissance Capital"), on behalf of Gazprom Neft, made a recommended cash offer for the entire issued and to be issued share capital of Sibir, excluding certain shares including those legally and beneficially owned by or on behalf of Gazprom Neft and shares legally and/or beneficially owned by or on behalf of certain other shareholders including Bennfield Limited, Central Fuel Company and the Bank of Moscow (the "Offer").
In accordance with the terms of the Framework Agreement (as summarised in the Offer Document) and as contemplated in the Offer Document, Renaissance Capital announces that as at 1.00 p.m. (London time) today the Offer will be closed and no longer capable of acceptance. For a period ending on 26 July 2009, Gazprom Neft shall put its broker, Renaissance Capital, in funds in an amount sufficient to discharge the purchase by way of bilateral contract of any outstanding Sibir Shares to which the Offer related. The Renaissance Capital Trading Facility will also continue to be available to eligible shareholders during this period. Renaissance Capital reserves the right not to accept an offer for sale through the Renaissance Capital Trading Facility.
As at 5.30 p.m. (London time) on 16 June 2009, valid acceptances of the Offer and valid offers to sell under the Renaissance Capital Trading Facility had been received in respect of 23,318,346 Sibir Shares, which when aggregated with Gazprom Neft's interests immediately prior to the Offer being made, resulted in Gazprom Neft having an interest in approximately 33.57 per cent. of Sibir's entire issued share capital.
Capitalised terms used in this announcement have the meanings set out in the offer document dated 27 May 2009.
Sibir is listed on AIM (Ticker: SBE:LN). The shares are currently suspended and Renaissance Capital and Gazprom Neft make no representation as to the accuracy or completeness of public information regarding Sibir.
For further information, please contact:
Gazprom Neft
Igor M. Tsibelman, Esq.
Tatiana Morozova.
+ 7 495 777 3152
Renaissance Capital
Dominic Bokor-Ingram, Equity Sales, +44 207 367 7723
Brien McMahon, Sales Trading, +44 207 367 7711
Richard Betson, Sales Trading, +44 207 367 7714
Arie Kravtchin, Equity Syndicate +7 495 783 5691
Renaissance Securities (Cyprus) Limited, which is authorised and regulated in Cyprus by the Cyprus Securities and Exchange Commission and enjoys passporting rights allowing it to do investment business in the UK, is acting for Gazprom Neft in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to any person other than Gazprom Neft for providing the protections afforded to the customers of Renaissance Securities (Cyprus) Limited or for providing advice in relation to the matters described in this announcement.
The Offer was not made, directly or indirectly, in or into, or by the use of the mails or any means of instrumentality (including, without limitation, telephonically or electronically) of interstate or foreign commerce of, or any facilities of a national securities exchange of any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction (in this announcement, an "Excluded Jurisdiction"). Accordingly, except as required by applicable law, copies of this announcement are not being, and may not be, mailed or otherwise forwarded, distributed or sent in, into or from any such Excluded Jurisdiction. Persons receiving this announcement (including without limitation nominees, trustees or custodians) must not forward, distribute or send it into any Excluded Jurisdiction.
This announcement does not constitute, or form any part of, any offer for, or solicitation of any offer for, securities.