Venture Production PLC (VPC.LN) said Tuesday it reccommends shareholders to accep the offer fromo Centrica (CNA.LN).

MAIN FACTS:

-The Board of Venture continues to believe that Centrica's final offer substantially undervalues Venture.

-However, the Board recognises that, in the event that the Offer is declared wholly unconditional, Centrica will have control of Venture.

-Furthermore, should Centrica receive acceptances which result in Centrica holding 75 per cent or more of Venture's shares, Centrica's stated intention is to procure that Venture applies to the U.K. Listing Authority for the cancellation of its listing on the Official List and to the London Stock Exchange for the cancellation of its admission to trading.

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