THE FOLLOWING ANNOUNCEMENT IS BEING MADE PURSUANT TO THE REQUIREMENTS OF RULE 19.6(C) OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE"), WHICH, INTER ALIA, REQUIRES A PARTY TO AN OFFER TO MAKE AN ANNOUNCEMENT AT THE END OF A PERIOD OF 12 MONTHS FROM THE DATE ON WHICH THE OFFER PERIOD ENDED CONFIRMING WHETHER IT HAS TAKEN, OR NOT TAKEN, THE COURSE OF ACTION SET OUT IN ITS STATED INTENTIONS.
Viaro Energy Limited ("Viaro")
Rule 19.6(c) confirmation with respect to stated post-offer intention statements with regard to RockRose Energy plc
On 2 September 2020, Viaro acquired the entire issued ordinary share capital of RockRose Energy plc ("RockRose"), which was implemented by means of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.
In its post-offer intention statements made pursuant to Rules 2.7(c)(iv) and 24.2 of the Code, as originally detailed in its Rule 2.7 announcement of 6 July 2020 and RockRose's scheme document published on 23 July 2020, Viaro stated that "No changes are envisaged by Viaro Energy with respect to the redeployment of RockRose's fixed asset base and licence interests".
On 24 December 2020 Viaro deviated from this post-offer intention statement when it sold RockRose's subsidiary RockRose UKCS8 LLC, which held the Brae and East Brae fields, to Fujairah International Oil & Gas Corporation for a consideration of US$1 (the "Disposal").
Viaro has duly confirmed in writing to The Takeover Panel in accordance with the requirements of Rule 19.6(c) of the Code that Viaro has complied with its post-offer intention statements made pursuant to Rule 2.7(c)(iv), Rule 24.2 of the Code, and as amended above.
Enquiries:
Viaro Energy Limited (via Hannam)
Francesco Mazzagatti
H&P Advisory Limited (Sole Financial Advisor to Viaro Energy)
Giles Fitzpatrick
Samuel Merlin
Andrew Chubb
Tel: +44 (0) 20 7907 8500
H&P Advisory Ltd ("Hannam"), which is regulated in the UK by the FCA, is acting exclusively for Viaro and no-one else in connection with the acquisition and will not be responsible to anyone other than Viaro for providing the protections afforded to clients of Hannam nor for providing advice in relation to the acquisition or any other matters referred to in this announcement.
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