REG - Capricorn Energy PLC - Share repurchase programme

Capricorn EnergyAnnouncement

17/06/2024 07:15

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RNS Number : 5987S  Capricorn Energy PLC  17 June 2024

FOR IMMEDIATE RELEASE                                                                                                                 17 June 2024

 

 

Capricorn Energy PLC ("Capricorn" or the "Company")

 

Share repurchase programme

 

 

Capricorn today announces the recommencement of the US$25million share buyback
programme initially announced on 4 May 2023, of which US$21million has been
repurchased to date. Merrill Lynch International ('BofA Securities') is
appointed to manage the share repurchase programme and to purchase Ordinary
Shares on its behalf.

 

In advance of moving into any closed periods Capricorn will enter into
irrevocable commitments with BofA Securities to execute the share buyback
through non-discretionary programmes repurchasing shares within certain
pre-set parameters, with BofA Securities making their trading decisions
independently of, and uninfluenced by, Capricorn.

 

Share purchases will take place in open market transactions and may be made
from time to time depending on market conditions, share price and trading
volume. The purpose of the share buyback is to reduce the share capital of
Capricorn, with the purchased shares to be held in treasury.

 

Any purchases of Ordinary Shares contemplated by this announcement will be
executed in accordance with the relevant regulations (including but not
limited to the Listing Rules) and Capricorn's existing general authority to
make market purchases of Shares (and any subsequent authority granted by
shareholders).

 

The maximum number of existing Ordinary Shares that the Company is authorised
to purchase under its existing general authority is 10,815,854 (14.99% of the
issued ordinary share capital of the Company (excluding treasury shares), i.e.
72,153,802) as proposed and approved at the general meeting of the Company on
the 17 April 2024.

 

Capricorn will make further regulatory announcements to shareholders in
respect of purchases of Ordinary Shares after they occur.

 

 

Ends

 

 

 

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 a cash flow-focused energy producer, with an attractive portfolio
of onshore exploration, development and production assets in the Egyptian
Western Desert and, subject to completion, a producing position in the UK
North Sea. For further information, visit www.capricornenergy.com
(http://www.capricornenergy.com) .

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