TIDMDELT

RNS Number : 5217T

IPGL Ltd

20 July 2020

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

   1.         KEY INFORMATION 
 
      (a) Full name of discloser:                      Michael Spencer 
      (b) Owner or controller of interests             IPGL Limited holds a 
       and short positions disclosed,                   direct interest of 16.82% 
       if different from 1(a):                          in the share capital 
       The naming of nominee or vehicle                 of the offeree. 
       companies is insufficient. For 
       a trust, the trustee(s), settlor                 IPGL Limited is a wholly 
       and beneficiaries must be named.                 owned subsidiary of IPGL 
                                                        (Holdings) Ltd, a company 
                                                        in which Michael Spencer 
                                                        holds a majority stake. 
                                                      --------------------------- 
      (c) Name of offeror/offeree in                   Deltic Energy Plc 
       relation to whose relevant securities 
       this form relates: 
       Use a separate form for each offeror/offeree 
                                                      --------------------------- 
      (d) If an exempt fund manager connected          N/A 
       with an offeror/offeree, state 
       this and specify identity of offeror/offeree: 
                                                      --------------------------- 
      (e) Date position held/dealing                   15th July 2020 
       undertaken: 
       For an opening position disclosure, 
       state the latest practicable date 
       prior to the disclosure 
                                                      --------------------------- 
      (f) In addition to the company                   NO 
       in 1(c) above, is the discloser 
       making disclosures in respect of 
       any other party to the offer? 
       If it is a cash offer or possible 
       cash offer, state "N/A" 
                                                      --------------------------- 
 
   2.         POSITIONS OF THE PERSON MAKING THE DISCLOSURE 

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

 
 Class of relevant security: 
                                                Interests         Short positions 
                                          --------------------  ------------------ 
                                             Number        %        Number      % 
                                          ------------          -------------  --- 
      (1) Relevant securities 
       owned and/or controlled:            236,432,780   16.82 
                                          ------------  ------  -------------  --- 
      (2) Cash-settled derivatives: 
                                          ------------  ------  -------------  --- 
      (3) Stock-settled derivatives 
       (including options) 
       and agreements to purchase/sell: 
                                          ------------  ------  -------------  --- 
 
   TOTAL:                                  236,432,780   16.82 
                                          ------------  ------  -------------  --- 
 

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

   (b)        Rights to subscribe for new securities (including directors' and other employee options) 
 
 Class of relevant security           N/A 
  in relation to which subscription 
  right exists: 
 Details, including nature            N/A 
  of the rights concerned and 
  relevant percentages: 
                                     ---- 
 
   3.         DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE 

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

   (a)        Purchases and sales 
 
 Class of relevant   Purchase/sale   Number of securities   Price per unit 
      security 
 
 
   (b)        Cash-settled derivative transactions 
 
 Class of relevant     Product         Nature of dealing       Number of    Price per 
      security        description     e.g. opening/closing     reference       unit 
                       e.g. CFD      a long/short position,    securities 
                                      increasing/reducing 
                                     a long/short position 
 
 
   (c)        Stock-settled derivative transactions (including options) 
   (i)         Writing, selling, purchasing or varying 
 
    Class         Product        Writing,         Number       Exercise         Type         Expiry    Option 
  of relevant    description    purchasing,    of securities     price      e.g. American,    date      money 
   security       e.g. call      selling,        to which       per unit       European                 paid/ 
                   option         varying         option                         etc.                  received 
                                   etc.           relates                                              per unit 
 
 
   (ii)        Exercise 
 
 Class of relevant   Product description   Exercising/    Number of    Exercise price 
      security            e.g. call         exercised     securities      per unit 
                            option           against 
 
 
   (d)        Other dealings (including subscribing for new securities) 
 
 Class of relevant    Nature of dealing    Details    Price per unit 
      security        e.g. subscription,              (if applicable) 
                          conversion 
 
 
   4.         OTHER INFORMATION 
   (a)        Indemnity and other dealing arrangements 
 
 Details of any indemnity or option arrangement, or any 
  agreement or understanding, formal or informal, relating 
  to relevant securities which may be an inducement to deal 
  or refrain from dealing entered into by the person making 
  the disclosure and any party to the offer or any person 
  acting in concert with a party to the offer: 
  Irrevocable commitments and letters of intent should not 
  be included. If there are no such agreements, arrangements 
  or understandings, state "none" 
 
 
   None 
 
   (b)        Agreements, arrangements or understandings relating to options or derivatives 
 
 Details of any agreement, arrangement or understanding, 
  formal or informal, between the person making the disclosure 
  and any other person relating to: 
  (i) the voting rights of any relevant securities under 
  any option; or 
  (ii) the voting rights or future acquisition or disposal 
  of any relevant securities to which any derivative is referenced: 
  If there are no such agreements, arrangements or understandings, 
  state "none" 
 
   None 
 
   (c)        Attachments 
 
 Is a Supplemental Form 8 (Open Positions) attached?   NO 
 
 
 Date of disclosure:    20th July 2020 
 Contact name:          Michelle Mooney 
                       ---------------- 
 Telephone number*:     020 7448 0356 
                       ---------------- 
 

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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