Energy
Tuesday, August 20th, 2024 4:19 pm EDT
Key Points
- i3 Energy PLC has received both a possible offer under Rule 2.4 and a firm offer under Rule 2.7 of the Takeover Code from Gran Tierra Energy Inc. for its entire share capital.
- The firm offer was announced outside of the UK regulatory news service hours due to the company’s dual listing in Canada, causing confusion in the timing of the announcements.
- i3 Energy confirmed that Gran Tierra’s final cash and share acquisition offer is recommended and the full announcement is available on i3 Energy’s website.
i3 Energy PLC has received a possible offer pursuant to Rule 2.4 of the Takeover Code and a firm offer pursuant to Rule 2.7 of the Takeover Code. These announcements were originally made outside of the regulatory news service operating hours due to the dual listing of the company in Canada. This has resulted in the Rule 2.4 possible offer announcement showing on some United Kingdom RIS systems as being released after the Rule 2.7 firm intention to make an offer announcement. For the avoidance of doubt, the company is pleased to confirm that it has received a firm offer from Gran Tierra Energy Inc. for the entire issued and to be issued share capital of i3 Energy.
The full text of Gran Tierra’s recommended and final cash and share acquisition announcement made under Rule 2.7 of the Takeover Code can be found at the company’s website.
About i3 Energy PLC Announces Confirmation of the status of Recommended Offer
i3 Energy is an oil and gas company with a low-cost, diversified, growing production base in Canada’s most prolific hydrocarbon region, the Western Canadian sedimentary basin, and appraisal assets in the North Sea with significant upside.
