VPC Venture Prod.

Centrica PLC (CNA.LN), an integrated energy company said Thursday that it made a final cash offer to acquire the entire issued (and to be issued) share capital of Venture Production (VPC.LN), not already held by it, at an offer price of 845 pence per share.

MAIN FACTS:

-The offer is final and will not be increased, except that Centrica Resources reserves the right to revise and/or increase the offer if a competitive situation arises.

- As at 1200GMT on Aug. 13 (being the first closing date of the Offer), Centrica had received valid acceptances in respect of 16,266,374 Shares, representing 10.9% of the current issued share capital of Venture and 9.4% of the ordinary share capital of Venture on a fully diluted basis.

-Centrica already owns 44,781,179 shares representing 29.9% of the current issued share capital of Venture and 25.8% of the ordinary share capital of Venture on a fully diluted basis.

-Accordingly, as at 12000GMT on Aug 13, Centrica either owned or had received valid acceptances of the Offer in respect of a total of 61,047,553 shares, representing in aggregate 40.8% of the issued share capital of Venture and 35.2% of the ordinary share capital of Venture on a fully diluted basis.

-Centrica further announces that the offer, which remains subject to the terms and conditions set out or referred to in the offer document posted to shareholders is being extended and will remain open for acceptance until the next closing date which will be 1200GMT on Aug. 28.

-Any further extensions of the offer period will be publicly announced no later than 8.00 a.m. on the Business Day following the date on which the Offer was otherwise due to expire, or such later date or time as the Panel may agree.

-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com 
 

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