18 Sep 2008 17:03
18 September 2008
CONTACTS:
| Westmount Energy Limited | Tel: 01534 814209 |
| Paul Anderson, Director | |
| Ruegg & Co Limited | Tel: 020 7584 3663 |
| Gavin Burnell | |
| Brett Miller | |
PRESS RELEASE
WESTMOUNT ENERGY LIMITED
The Board of Westmount Energy Limited ("Westmount" or the "Company") note the announcement made today by Vattenfall AB concerning their firm intention pursuant to Rule 2.5 of the City Code on Takeovers and Mergers to make an offer for the entire issued share capital of Eclipse Energy UK plc ("Eclipse") at a price of £18.01 per Eclipse share. It is anticipated that a copy of the announcement will shortly be available at www.vattenfall.com and www.seapower-generation.co.uk. The board of Westmount wish to announce that they have given an irrevocable undertaking to accept the offer when made by Vattenfall AB of £18.01 per share for the Company's entire holding of 244,000 shares of Eclipse Energy UK Plc ("Eclipse") subject to the absence of a competing offer by a third party to acquire all of the share capital of Eclipse which represents an improvement of 10% or more on the value of the present intended offer.
Should the offer by Vattenfall be made, become successful and become unconditional in all respects then the sale proceeds to Westmount for its 244,000 shares in Eclipse will amount to £4,394,440.
A further announcement will be made in due course should the offer become unconditional in all respects.
Note for Editors:
Westmount Energy Limited is a Jersey based AIM quoted Energy Investment Company. Its present investments include 29,000,000 shares of AIM quoted Sterling Energy plc, 5,200,000 shares of AIM quoted Desire Petroleum plc and 244,000 shares of presently unquoted Eclipse Energy UK plc. The Company has no borrowings.
Westmount Engy. (WTE)