Capricorn Energy PLC Notice Received Under SPA with Woodside Energy (5761T)
November 15 2023 - 6:46AM
UK Regulatory
TIDMCNE
RNS Number : 5761T
Capricorn Energy PLC
15 November 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE 15 November 2023
CAPRICORN ENERGY PLC ("Capricorn" or "the Company")
NOTICE RECEIVED UNDER SALE AND PURCHASE AGREEMENT WITH WOODSIDE
ENERGY
Capricorn Energy PLC announces that, on 14 November 2023, it
received notification that Woodside Energy ("Woodside") had
received a notice from the Senegalese Tax Authority. The notice
from the Senegalese Tax Authority states that:
-- Senegalese registration duty (US$28.2m including interest and
penalties) should have been paid on the transfer (in December 2020)
by Capricorn to Woodside of its PSC interests offshore Senegal,
and
-- Senegalese real estate capital gains tax (US$14.5m including
interest and penalties) should have been withheld by Woodside from
the price paid to Capricorn in respect of the sale of those PSC
interests.
Under the terms of the sale agreement between Capricorn and
Woodside, Capricorn is responsible for any registration duty and
for any capital gains tax arising in connection with the sale of
the PSC interests.
Capricorn's analysis remains that no Senegalese registration
duty or capital gains tax is payable, based on analysis at the time
of the transaction. Capricorn will continue to vigorously defend
its position on this matter including exercising rights under the
sale agreement to participate in the defence of any such claim.
Enquiries to :
Analysts / Investors
Nathan Piper, Commercial Director Tel: 0131
475 3000
Media
Diana Milford, Corporate Affairs Tel: 0131
475 3000
Billy Clegg/Owen Roberts, Camarco Tel: 0203
757 4980
About Capricorn Energy PLC
Capricorn is an Egypt-focused energy producer, with an
attractive portfolio of onshore exploration, development and
production assets in the Western Desert.
For further information on Capricorn please see:
www.capricornenergy.com
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCBBBDBXSBDGXU
(END) Dow Jones Newswires
November 15, 2023 06:46 ET (11:46 GMT)
Capricorn Energy (LSE:CNE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Capricorn Energy (LSE:CNE)
Historical Stock Chart
From Jul 2023 to Jul 2024