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15 Oct 2009 09:49
Island Oil & Gas plc ("Island")
Announcement regarding possible offer
The board of Island notes the announcement by San Leon Energy plc ("San Leon") this morning and confirms that it is has received a preliminary proposal from San Leon which may or may not lead to an offer being made for the entire issued share capital of the Company.
Shareholders of the Company should be aware that there is no certainty that an offer will be forthcoming.
A further announcement will be made in due course.
Rule 2.10 Requirement
In accordance with Rule 2.10 of the Irish Takeover Rules, Island confirms that it currently has in issue 135,926,678 ordinary shares of €0.01 each.
15 October 2009
Enquiries:
Davy Corporate Finance
Ivan Murphy / Anthony Farrell
Phone: +353 1 679 6363
College Hill
Nick Elwes
Phone + 44 (0)207 457 2020
Any person who is a holder of one per cent. or more of any class of shares in Island may be required to make disclosures pursuant to Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules 2007 and 2008.
The directors of Island accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Company's Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.
Davy Corporate Finance, which is regulated in Ireland by the Financial Regulator, is acting for Island and no-one else in relation to the approach and will not be responsible to anyone other than Island for providing advice in relation to the approach.
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