Capricorn Energy PLC Circ re. Return of US$450 million to shareholders (9058X)
April 28 2023 - 7:09AM
UK Regulatory
TIDMCNE
RNS Number : 9058X
Capricorn Energy PLC
28 April 2023
FOR IMMEDIATE RELEASE 28 April 2023
CAPRICORN ENERGY PLC ("Capricorn" or "the Company")
Return of US$450 million to shareholders
Following the full-year results announcement yesterday,
Capricorn is pleased to report that a circular setting out the full
details of the Return of Cash and related matters (the "Circular")
will be posted to Shareholders today.
Pursuant to the Return of Cash, Capricorn will pay a special
dividend of 115 pence per existing ordinary share amounting to a
return of approximately US$450 million (c.GBP362 million) to
Shareholders and complete a consolidation of Capricorn's ordinary
share capital. The special dividend is expected to be paid on 23
May 2023 to those on the register at 6.00 p.m. on 15 May 2023.
The Share Consolidation will reduce the number of Capricorn's
issued ordinary shares by an amount that reflects the value of the
Return of Cash to Shareholders relative to the market
capitalisation of Capricorn prior to the Return of Cash. As such,
every 70 existing ordinary shares of 21/13 pence each will be
replaced by 33 new ordinary shares of 490/143 pence each (subject
to fractional entitlements) so as to reduce the number of shares in
issue to reflect the amount of cash to be returned to Shareholders.
The aim of this is to ensure, so far as possible, the market price
of an ordinary share remains approximately the same before and
after the proposed Return of Cash and to maintain comparability of
historical and future per share data. The Share Consolidation will
reduce the number of ordinary shares in Capricorn which
shareholders own, but not the proportion (subject to allowance for
fractional entitlements).
Circular to Shareholders
Capricorn is today posting a circular to Shareholders in
connection with the Return of Cash. The Circular contains a notice
convening a General Meeting of Capricorn Shareholders where
Shareholders will be asked to approve the Return of Cash and
matters ancillary thereto. The General Meeting will be held at
Capricorn's head office at 50 Lothian Road, Edinburgh EH3 9BY at
10.00 a.m. on 15 May 2023. Further information on the arrangements
for the General Meeting is set out in Part I of the Circular.
The Circular will shortly be available for viewing on the
investors section of Capricorn's website at
www.capricornnenergy.com/investors/shareholder-information/. A copy
of the Circular will also be submitted to the National Storage
Mechanism and will shortly be available for inspection on its
website at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Key dates
Latest time and date for receipt of Electronic Proxy
Instructions, Form of Proxy or CREST Proxy
Instruction in respect of General Meeting 10.00 a.m. on 11 May
2023
General Meeting 10.00 a.m. on 15 May 2023
Latest time and date for dealings in Existing
Ordinary Shares 4.30 p.m. on 15 May 2023
Record Time for entitlement to the Special Dividend and to
determine the Existing Ordinary Shares subject to the Share
Consolidation (Existing Ordinary Share register closed and
Existing
Ordinary Shares disabled in CREST) 6.00 p.m. on 15 May 2023
Ordinary Shares marked ex-Special Dividend 8.00 a.m. on 16 May
2023
Listing of the New Ordinary Shares 8.00 a.m. on 16 May 2023
Dealings in the New Ordinary Shares commence
and enablement in CREST in respect of
uncertificated New Ordinary Shares 8.00 a.m. on 16 May 2023
Despatch of share certificates in respect of
certificated New Ordinary Shares 23 May 2023
Payment of Special Dividend to Shareholders 23 May 2023
All dates are subject to change. If any of the above times or
dates change, the revised times and / or dates will be notified to
Shareholders by an announcement on an RIS.
Enquiries:
Jonathan Milne, Corporate Affairs +44 (0)131 475 3000
Billy Clegg/Owen Roberts, Camarco +44 (0)20 3757 4980
Notes to Editors
Unless otherwise stated, defined terms set out in this
announcement have the same meaning as in the Circular posted to
Shareholders today.
About Capricorn Energy PLC
Find out more about Capricorn at www.capricornenergy.com.
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END
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