Capricorn Energy plc and Tullow Oil plc today confirmed the cancellation of the proposed transaction for an all-share merger. STATEMENTS Capricorn said that on 29 September 2022, Tullow announced it had determined not to increase the value of its offer for Capricorn or to elect to implement its offer by way of a contractual offer. […]
Tag: Capricorn Energy plc
Capricorn keeps open Tullow merger options
Capricorn Energy plc said it was considering alternative transactions while maintaining that its proposed merger with Tullow Oil & Gas plc would create a stronger and more resilient business. PROPOSED MERGER Announcing the company’s half year results, chief executive Simon Thomson said that the proposed enlarged group would have assets in Ghana, Egypt, Gabon and […]
Capricorn suspends $200m share buyback
Capricorn Energy plc said it had suspended its £200 million share buyback following the company’s announcement today to merge with Tullow Oil plc. The suspension excludes the US$25 million tranche announced on 7 April 2022, which is being conducted by JP Morgan Securities PLC on a non-discretionary basis and will end no later than 6 […]
Tullow-Capricorn to merge
Tullow Oil plc and Capricorn Energy plc have announced plans for a recommended all-share merger to create one of the largest energy companies in Africa. TERMS In a joint statement today, the companies added that Capricorn shareholders would receive 3.8068 new Tullow shares for each Capricorn share held. This would see Capricorn shareholders owning 47% […]
Capricorn receives $1bn tax refund from India
Capricorn Energy plc said that the Indian tax refund of INR79 billion had now been paid and it had received net proceeds of US$1.06bn. The company expects to issue a circular in early March detailing the shareholder resolutions required in connection with the proposed shareholder return of up to $700m. This comprises a $500m tender […]
Capricorn appoints Luis Araujo as independent NED
Capricorn Energy plc has appointed Luis Araujo as an independent non-executive director (NED) with effect from 11 May 2022. Mr Araujo has more than 38 years’ experience in the oil and gas and energy markets, predominantly in Brazil and Scotland. He was chief executive officer and president of Aker Solutions from 2014 to 2020 and […]