Capricorn Energy Announces No Intention To Make Offer For Deltic Energy Under Rule 2.8

India, May 19 -- Capricorn Energy Plc. (CNE.L) Tuesday confirmed that it does not intend to make an offer for Deltic Energy Plc. (7RC0.F), a natural resources investing company.

Capricorn Energy said it reserves the right to set the restrictions in Rule 2.8, if Petrogas International, a subsidiary of Mohammed Al Barwani LLC, or Blue Concept Hld announce a firm intention to make an offer for Deltic. Further, the company might ignore restriction in Rule 2.8, if Deltic announces a Rule 9 waiver or a reverse takeover; or if there has been a material change of circumstances.

Rule 2.8, the U.K. City Code of takeovers and mergers refers to a six-month lockout of a target company.

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