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15 Oct 2009 09:49
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Island Oil & Gas plc ("Island")
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Announcement regarding possible offerΒ
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The board ofΒ IslandΒ 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.Β
Shareholders of the Company should be aware that there is no certainty that an offer will be forthcoming.Β
A further announcement will be made in due course.Β
Rule 2.10 RequirementΒ
In accordance with Rule 2.10 of the Irish Takeover Rules,Β IslandΒ confirms that it currently has in issue 135,926,678Β ordinary shares of β¬0.01Β each.Β
15 October 2009
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Enquiries:
Davy Corporate Finance
Ivan MurphyΒ /Β Anthony Farrell
Phone: +353 1 679 6363
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College Hill
Nick Elwes
Phone + 44 (0)207 457 2020
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Any person who is a holder of one per cent. or more of any class of shares inΒ IslandΒ 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 ofΒ IslandΒ accept responsibility for the informationΒ contained in this announcement. To the best of the knowledge andΒ belief of the Company's Directors (who have taken all reasonable careΒ to ensure that such is the case), the information contained in thisΒ announcement is in accordance with the facts and does not omitΒ anything likely to affect the import of such information.Β
Davy Corporate Finance, which is regulated inΒ IrelandΒ by the Financial Regulator, is acting for Island and no-one else in relation to the approach andΒ will not be responsible to anyone other thanΒ IslandΒ for providing advice in relation to the approach.
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