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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Irvine Energy | LSE:IVE | London | Ordinary Share | GB00B0R2Q661 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.41 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 7324J Irvine Energy PLC 08 December 2008 Irvine Energy plc / Index: AIM / Epic: IVE / Sector: Exploration & Production 8 December 2008 Irvine Energy plc ("Irvine" or "the Company") Dealing Disclosure Requirements Further to the Company's announcement on 5 December 2008 (the "Update Announcement") and the statement that "In addition, the directors will explore the possibility of a merger or corporate transaction if that creates value for shareholders", the Company confirms that such possibilities include the possibility of an offer for the shares of the Company. As a result, an offer period in respect of the Company has commenced. The board would like to emphasise that whilst the Company is now entering into an offer period, no discussions are currently taking place with third parties regarding an offer for the Company and accordingly, there can be no certainty that there will be any kind of corporate transaction in the foreseeable future. However, as stated in the Update Announcement "the Directors intend to complete the sale of certain non-core assets and also explore the possibility of alliances, joint ventures or farm-outs with third parties in order to reduce the ongoing capital requirement for Irvine". Further announcements will be made in due course and as appropriate. Relevant Securities in Issue In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, Irvine Energy plc confirms that it has 793,674,826 ordinary shares of 0.1 pence each in issue and is admitted to trading on AIM under the ISIN GB00B0R2Q661. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the 'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of Irvine Energy plc, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of Irvine Energy plc, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rules 8.1 of the Code, all 'dealings' in 'relevant securities' of Irvine Energy plc by a potential offeror, or Irvine Energy plc, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk . 'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel. * * ENDS * * For further information please visit http://www.irvineenergy.com or contact: Michael Frayne Irvine Energy plc Tel: +44 (0) 20 7766 7500 Doug Manner Irvine Energy plc Tel: +1 214 908 6384 Tim Redfern Evolution Securities Tel: +44 (0) 20 7071 4300 Adam James Evolution Securities Tel: +44 (0) 20 7071 4300 Hugo de Salis St Brides Media & Finance Tel: +44 (0) 20 7236 1177 Victoria Thomas St Brides Media & Finance Tel: +44 (0) 20 7236 1177 This information is provided by RNS The company news service from the London Stock Exchange END MSCUUGMGPUPRGAR
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