TIDMIRSH TIDMDGO
RNS Number : 8104U
Emirates National Oil Company Ltd
03 August 2015
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION.
Dublin & London, 2 August 2015
For immediate release
Emirates National Oil Company Ltd. (ENOC) L.L.C. ("ENOC")
Recommended cash offer for the shares in Dragon Oil plc ("Dragon
Oil")
not already owned by ENOC
Revision of Offer Price to 800 pence for each Dragon Oil
Share
Valid Acceptances of 15.5 per cent. and Intended Acceptances of
1.32 per cent.
Further Irrevocable Undertakings (in addition to the Valid
Acceptances and Intended Acceptances) obtained for 13.1 per cent.
of Dragon Oil Shares
Offer declared unconditional in all respects and is best and
final
ENOC intends to procure delisting of Dragon Oil shortly
Summary
-- On 1 July 2015, the document containing the full terms of,
and conditions to, a recommended cash offer for the Dragon Oil
Shares not already owned by ENOC (the "Original Offer"), and the
procedures for acceptance of that offer (the "Offer Document") was
posted by ENOC to Dragon Oil Shareholders. Capitalised terms used
but not otherwise defined in this announcement have the meanings
set out in the Offer Document.
-- The Board of ENOC today announces a revision to the Original
Offer price of 750 pence for each Dragon Oil Share (the "Increased
Offer"). Under the terms of the Increased Offer, effective
immediately, Dragon Oil Shareholders will be entitled to
receive:
800 pence in cash for each Dragon Oil Share
-- The Increased Offer values the entire issued and to be issued
share capital of Dragon Oil at approximately GBP4 billion and the
issued and to be issued share capital of Dragon Oil not already
owned by ENOC at approximately GBP1.8 billion. ENOC has confirmed
to the Independent Committee that the Increased Offer price is
final and will not be increased.
-- ENOC has received firm irrevocable undertakings from Baillie
Gifford and Elliott Capital Advisors to accept or procure the
acceptance of the Increased Offer in respect of 64,505,038 Dragon
Oil Shares representing 13.1 per cent (in aggregate) of the issued
share capital of Dragon Oil (the "Further Irrevocables").
-- As at 1.00 p.m. (Dublin time) on 31 July 2015, ENOC had
received acceptances of the Original Offer valid in all respects
relating to 76,568,990 Dragon Oil Shares (the "Valid Acceptances"),
representing (i) approximately 15.5 per cent of the current issued
share capital of Dragon Oil and (ii) approximately 33.1 per cent of
the voting rights held by the Independent Shareholders on the date
of the Rule 2.5 Announcement, which ENOC may count towards the
satisfaction of the acceptance condition to the Offer. ENOC also
had intended acceptances of the Original Offer relating to
6,502,572 Dragon Oil Shares (the "Intended Acceptances"),
representing approximately 1.32 per cent. of the current issued
share capital of Dragon Oil.
-- ENOC waives the acceptance condition set out in paragraph
2(a) of Appendix I of the Offer Document together with the
conditions set out in paragraphs 2(b) to (i) in Appendix I of the
Offer Document and declares the Offer unconditional in all
respects.
-- Subject to the applicable requirements being met, ENOC
intends to procure the de-listing of the Dragon Oil Shares from the
Irish Stock Exchange and the London Stock Exchange.
-- Dragon Oil Shareholders who have already validly accepted the
Original Offer need take no further action; their acceptances will
be treated as acceptances of the Increased Offer.
-- This announcement will be posted to all Dragon Oil
Shareholders, and the Increased Offer will remain open for
acceptance until 3.00 p.m. (Dublin time) on 28 August 2015 (or such
later time as ENOC may determine).
-- Dragon Oil Shareholders who have not already done so should
complete and return a Form of Acceptance as soon as possible.
Completion and return of the Form of Acceptance that accompanied
the Offer Document, being the Form of Acceptance for the Original
Offer will be treated by ENOC as an acceptance of the Increased
Offer.
-- Commenting on the revision to the Original Offer on behalf of
ENOC, Saif Al Falasi, Group Chief Executive said:
"We are pleased to have the support of the required majority of
Dragon Oil Shareholders for our revised offer of 800 pence;
including the two largest minority shareholders - Baillie Gifford
and Elliott Capital Advisors. With the level of acceptances now
received, we have declared the offer unconditional in all
aspects.
I would like to thank all shareholders for their ongoing
willingness to engage in a dialogue with us, enabling today's
outcome to be achieved.
We will begin the process of delisting Dragon Oil from both the
Irish and London Stock Exchanges shortly. Any additional minority
shareholders wishing to accept the offer of 800 pence can tender
their shares into our offer.
We look forward to taking operational control of Dragon Oil and
integrating the company into the ENOC Group, moving another step
closer towards creating a fully integrated oil & gas
company."
-- Commenting on the revision to the Original Offer on behalf of
Baillie Gifford, Richard Sneller said:
"As a shareholder in Dragon Oil for a number of years we have
seen the company grow significantly. We are now pleased to support
the revised offer of 800 pence which we believe represents an
attractive exit price."
-- Commenting on the revision to the Original Offer, Elliott Capital Advisors stated:
"We appreciate the open and constructive dialogue that we have
had with ENOC. We are pleased that we are able to support the offer
and encourage other shareholders to do so."
-- Commenting on the revision to the Original Offer on behalf of
the Independent Committee, Thor Haugnaess, Chairman of the
Independent Committee said:
"The Independent Committee is pleased that ENOC has increased
its offer to 800p. We recommend that all shareholders accept the
Increased Offer."
-- The Independent Committee, which has been so advised by
Nomura and Davy Corporate Finance, considers the terms of the
Increased Offer to be fair and reasonable for the minority
shareholders of Dragon Oil. In providing their advice, Nomura and
Davy Corporate Finance have taken into account the commercial
assessments of the Independent Committee. Accordingly, the
Independent Committee unanimously recommends that the minority
shareholders of Dragon Oil accept the Increased Offer.
Enquiries:
ENOC
Aakash Nijhawan
Norman Blake
Vedant Venkatesh
Aya Yassein +971 4 313 4700
Barclays Bank PLC, acting
through its Investment Bank
(Financial Adviser to ENOC)
Derek Shakespeare
Khaled El Dabag
Simon Oxley
Bertie Whitehead
Hugh Moran
Merrill Lynch International
("BofA Merrill Lynch") (Financial
Adviser to ENOC)
Ashwin Punde +44 (0) 20 7623 2323
Geoff Iles
Tony White
Marc Sfeir
Thomas Milner +44 (0) 20 7628 1000
Bell Pottinger (Communications
Adviser to ENOC)
Gavin Davis
Lorna Cobbett +44 (0) 20 3772
Henry Lerwill 2500
Dragon Oil +44 (0) 20 7647
Anna Gavrilova, Investor Relations 7804
Nomura International plc (Joint
Financial Adviser and Joint Corporate
Broker to Dragon Oil)
Andrew Forrester
John Bigham
Henry Phillips
Nicholas Marren +44 (0) 20 7521
Wouter Leemhuis 2000
Davy (Joint Financial Adviser and
Joint Corporate Broker to Dragon
Oil)
John Frain
Brian Garrahy +353 (1) 679
Paul Burke 6363
Citigate Dewe Rogerson (PR Adviser
to Dragon Oil) +44 (0) 20 7638
Martin Jackson 9571
Legal Information
The release, publication or distribution of this announcement in
or into certain jurisdictions may be restricted by the laws of
those jurisdictions. Accordingly, copies of this announcement and
all other announcements relating to the Offer are not being, and
must not be, released, published, mailed or otherwise forwarded,
distributed or sent in, into or from any Restricted Jurisdiction.
Persons receiving such announcements (including, without
limitation, nominees, trustees and custodians) should observe these
restrictions. Failure to do so may constitute a violation of the
securities laws of any such jurisdiction. To the fullest extent
permitted by applicable law, the companies involved in the Offer
disclaim any responsibility or liability for the violations of any
such restrictions by any person.
The directors of Dragon Oil accept responsibility for the
information contained in this announcement relating to Dragon Oil,
the Dragon Oil Group, the directors of Dragon Oil and members of
their immediate families, related trusts and persons connected with
them. To the best of the knowledge and belief of the directors of
Dragon Oil (who have taken all reasonable care to ensure such is
the case), the information contained in this announcement for which
they accept responsibility is in accordance with the facts and does
not omit anything likely to affect the import of such
information.
The members of the Independent Committee accept responsibility
for the information in relation to the Offer contained in this
announcement. To the best of the knowledge and belief of the
members of the Independent Committee (who have taken all reasonable
care to ensure that such is the case), the information contained in
this announcement for which they accept responsibility is in
accordance with the facts and does not omit anything likely to
affect the import of such information.
The Directors of ENOC accept responsibility for the information
contained in this announcement other than that relating to Dragon
Oil, the Dragon Oil Group, the directors of Dragon Oil and members
of their immediate families, related trusts and persons connected
with them and the information which is the responsibility of the
Independent Committee contained herein. To the best of the
knowledge and belief of the Directors of ENOC (who have taken all
reasonable care to ensure that such is the case), the information
contained in this announcement is in accordance with the facts and
does not omit anything likely to affect the import of such
information.
Barclays, which is authorised by the Prudential Regulation
Authority and regulated in the United Kingdom by the Financial
Conduct Authority and the Prudential Regulation Authority, is
acting exclusively for ENOC and for no-one else in connection with
the matters set out in this announcement and will not be
responsible to anyone other than ENOC for providing the protections
afforded to clients of Barclays nor for providing advice in
connection with the matters set out in this announcement.
BofA Merrill Lynch, a subsidiary of Bank of America Corporation,
is acting exclusively for ENOC and for no one else in connection
with the Offer and will not be responsible to anyone other than
ENOC for providing the protections afforded to its clients or for
providing advice in relation to the Offer.
Nomura, which is authorised by the Prudential Regulation
Authority and regulated in the United Kingdom by the Financial
Conduct Authority and Prudential Regulation Authority, is acting
exclusively for the Independent Committee and no one else in
connection with this announcement and will not be responsible to
anyone other than the Independent Committee for providing the
protections afforded to clients of Nomura nor for providing advice
in connection with this announcement or any matter referred to
herein.
Davy, which is authorised and regulated by the Central Bank of
Ireland, is acting exclusively for the Independent Committee and no
one else in connection with this announcement and will not be
responsible to anyone other than the Independent Committee for
providing the protections afforded to clients of Davy nor for
providing advice in connection with this announcement or any matter
referred to herein
A copy of this announcement will be available at
www.dragonoiloffer.com. The content of the website referred to in
this announcement is not incorporated into and does not form part
of this announcement.
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities whether pursuant to this
announcement or otherwise.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Irish Takeover Rules, if
any person is, or becomes, 'interested' (directly or indirectly) in
1 per cent. or more of any class of 'relevant securities' of Dragon
Oil, all 'dealings' in any 'relevant securities' of Dragon Oil
(including by means of an option in respect of, or a derivative
referenced to, any such 'relevant securities') must be publicly
disclosed by not later than 3:30 pm (Irish time) on the 'business
day' following the date of the relevant transaction. This
requirement will continue until the date on which the Offer becomes
effective or on which the 'offer period' otherwise ends. If two or
more persons co-operate on the basis of any agreement, either
express or tacit, either oral or written, to acquire an 'interest'
in 'relevant securities' of Dragon Oil, they will be deemed to be a
single person for the purpose of Rule 8.3 of the Irish Takeover
Rules.
Under the provisions of Rule 8.1 of the Irish Takeover Rules,
all 'dealings' in 'relevant securities' of Dragon Oil by ENOC, or
by any party 'acting in concert' with either of them, must also be
disclosed by no later than 12 noon (Irish time) on the '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, can be found
on the Panel's website at www.irishtakeoverpanel.ie.
'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 Irish Takeover
Rules, which can be found on the Panel's website. If you are in any
doubt as to whether you are required to disclose a dealing under
Rule 8, please consult the Panel's website at
www.irishtakeoverpanel.ie or contact the Panel on telephone number
+353 1 678 9020 or fax number +353 1 678 9289.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION.
Dublin & London, 2 August 2015
For immediate release
Emirates National Oil Company Ltd. (ENOC) L.L.C. ("ENOC")
Recommended cash offer for the shares in Dragon Oil plc ("Dragon
Oil")
not already owned by ENOC
Revision of Offer Price to 800 pence for each Dragon Oil
Share
Valid Acceptances of 15.5 per cent. and Intended Acceptances of
1.32 per cent.
Further Irrevocable Undertakings (in addition to the Valid
Acceptances and Intended Acceptances) obtained for 13.1 per cent.
of Dragon Oil Shares
Offer declared unconditional in all respects and is best and
final
ENOC intends to procure delisting of Dragon Oil shortly
1. Increased Offer
On 1 July 2015, the document containing the full terms of, and
conditions to, a recommended cash offer for the Dragon Oil Shares
not already owned by ENOC (the "Original Offer"), and the
procedures for acceptance of that offer (the "Offer Document") was
posted by ENOC to Dragon Oil Shareholders. Capitalised terms used
but not otherwise defined in this announcement have the meanings
set out in the Offer Document.
The Board of ENOC today announces a revision to the Original
Offer price of 750 pence for each Dragon Oil Share (the "Increased
Offer"). Under the terms of the Increased Offer, effective
immediately, Dragon Oil Shareholders will be entitled to
receive:
800 pence in cash for each Dragon Oil Share
The Increased Offer values the entire issued and to be issued
share capital of Dragon Oil at approximately GBP4.0 billion and the
issued and to be issued share capital of Dragon Oil not already
owned by ENOC at approximately GBP1.8 billion.
The Increased Offer represents a premium of approximately:
-- 57.0 per cent to the Closing Price of 509.5 pence per Dragon
Oil Share on 13 March 2015 (being the business day immediately
before the date of the first approach by ENOC);
-- 50.2 per cent to the volume weighted average Dragon Oil Share
price of 532.5 pence over the 90 day period ended 13 March
2015;
-- 49.5 per cent to the Closing Price of 535.0 pence for each
Dragon Oil Share on 16 March 2015 (being the last Business Day
immediately before the commencement of the Offer Period); and
-- 49.5 per cent to the volume weighted average Dragon Oil Share
price of 535.1 pence over the 90 day period ended 16 March
2015.
ENOC has confirmed to the Independent Committee that the
Increased Offer price is final and will not be increased.
2. Irrevocable Undertakings and Acceptances
As at 16 March 2015 (the day before the commencement of the
Offer Period), ENOC confirms that it held 265,263,515 Dragon Oil
Shares, representing approximately 53.9 per cent of the issued
share capital of Dragon Oil at that date.
As at 1.00 p.m. (Dublin time) on 31 July 2015, ENOC had received
acceptances of the Original Offer valid in all respects relating to
76,568,990 Dragon Oil Shares (the "Valid Acceptances"),
representing (i) approximately 15.5 per cent of the current issued
share capital of Dragon Oil and (ii) approximately 33.1 per cent of
the voting rights held by the Independent Shareholders on the date
of the Rule 2.5 Announcement, which ENOC may count towards the
satisfaction of the acceptance condition to the Offer. ENOC also
had intended acceptances of the Original Offer relating to
6,502,572 Dragon Oil Shares (the "Intended Acceptances"),
representing approximately 1.32 per cent. of the current issued
share capital of Dragon Oil.
ENOC has received firm irrevocable undertakings (the "Further
Irrevocables") from:
-- Baillie Gifford & Co. and its wholly owned subsidiary
undertaking Baillie Gifford Overseas Limited (collectively,
"Baillie Gifford") to accept or procure the acceptance of the
Increased Offer in respect of 34,943,506 Dragon Oil Shares
representing 7.1 per cent of the issued share capital of Dragon
Oil; and
-- Elliott Associates, L.P., Elliott International, L.P. and The
Liverpool Limited Partnership (collectively, "Elliott Capital
Advisors") to accept or procure the acceptance of the Increased
Offer in respect of 100 Dragon Oil Shares and, to the extent that
it is able, to direct the holders of the Dragon Oil Shares
underlying its contracts for differences to accept or procure the
acceptance of the Increased Offer in respect of 29,561,432 Dragon
Oil Shares, in aggregate representing 6.0 per cent of the issued
share capital of Dragon Oil.
The holdings and dealings of Baillie Gifford and Elliott Capital
Advisors required to be disclosed by the Takeover Rules are set out
in Appendix 1.
So far as ENOC is aware, none of the acceptances detailed above
have been received from persons acting in concert with ENOC. In
addition, as at 1.00 p.m. (Dublin time) on 31 July 2015, no persons
acting in concert with ENOC had an interest in, a right to
subscribe in or a short position in certain Dragon Oil relevant
securities.
3. Recommendation of Independent Committee
The Independent Committee, which has been so advised by Nomura
and Davy Corporate Finance, considers the terms of the Increased
Offer to be fair and reasonable for the minority shareholders of
Dragon Oil. In providing their advice, Nomura and Davy Corporate
Finance have taken into account the commercial assessments of the
Independent Committee. Accordingly, the Independent Committee
unanimously recommends that the minority shareholders of Dragon Oil
accept the Increased Offer.
The Independent Committee draws the attention of Dragon Oil
Shareholders to paragraph 5 below, and to the steps that will be
taken to, among others things, procure the de-listing of the Dragon
Oil Shares.
4. Offer declared unconditional in all respects
ENOC announces that, in light of the Further Irrevocables
referred to above, it is waiving the acceptance condition set out
in paragraph 2(a) of Appendix I of the Offer Document together with
the conditions set out in paragraphs 2(b) to (i) in Appendix I of
the Offer Document and that the Offer is declared unconditional in
all respects.
The Increased Offer will remain open for acceptance until 3.00
p.m. (Dublin time) on 28 August 2015 (or such later time as ENOC
may determine). Dragon Oil Shareholders who have not yet accepted
the Increased Offer and who wish to do so should take action to
accept the Increased Offer as soon as possible. Details of the
procedure for doing so are set out below. The Offer Document is
also available at www.dragonoiloffer.com.
5. De-listing and cancellation of trading, compulsory acquisition and re-registration
Consistent with ENOC's intentions as described in the Offer
Document, now that the Increased Offer is unconditional in all
respects, ENOC intends (subject to the applicable requirements
being met) to procure that Dragon Oil applies for cancellation of
the listing of Dragon Oil Shares by the Irish Stock Exchange and
the UK Listing Authority and the cancellation of the admission to
trading of Dragon Oil Shares on the Irish Stock Exchange and London
Stock Exchange's respective main markets for listed securities.
Subject to any applicable requirements of the Irish Stock
Exchange, the UK Listing Authority and the London Stock Exchange,
it is anticipated that the cancellation of the listing and
admission to trading will take effect no earlier than 20 business
days (as defined in the applicable Listing Rules) after ENOC
announces that it has either (i) by virtue of acceptances of the
Offer, acquired or agreed to acquire the Dragon Oil Shares that are
the subject of the Required Acceptances; or (ii) issued compulsory
acquisition notices under the relevant provisions of Part 5 of the
European Communities (Takeover Bids (Directive 2004/25/EC))
Regulations 2006. The 20 business day period shall commence when
such announcement is made. Such announcement is expected
shortly.
Such a cancellation of trading of Dragon Oil Shares will
significantly reduce the liquidity and marketability of any Dragon
Oil Shares not acquired by ENOC.
If acceptances are received in respect of not less than 90 per
cent. in nominal value of the Dragon Oil Shares Affected, ENOC
intends to apply the provisions of Part 5 of the European
Communities (Takeover Bids (Directive 2004/25/EC)) Regulations 2006
to acquire compulsorily any remaining Dragon Oil Shares not
acquired or agreed to be acquired by ENOC pursuant to the Offer or
otherwise.
Following a cancellation of the listing and trading of Dragon
Oil Shares on the Irish Stock Exchange and London Stock Exchange,
and provided that it is permitted under the Act to do so, ENOC
intends to procure that Dragon Oil is re-registered as a private
company.
6. Dragon Oil Share Schemes
The Increased Offer extends to any Dragon Oil Shares which are
unconditionally allotted or issued under the Dragon Oil Share
Schemes before the date on which the Increased Offer closes. ENOC
has confirmed that the proposals that have been made to all Dragon
Oil Optionholders and Dragon Oil Awardholders will be amended to
reflect the terms of the Increased Offer.
7. Financing Arrangements
The cash consideration payable by ENOC under the terms of the
Increased Offer will be financed from the existing financial
resources of ENOC. Full payment of the cash consideration would
involve a maximum cash payment of approximately GBP1.9 billion.
Barclays is satisfied that resources are available to ENOC
sufficient to satisfy in full the cash consideration payable to
Dragon Oil Shareholders under the Increased Offer.
8. Terms of the Increased Offer
The Increased Offer constitutes a revision of the Original
Offer. The Panel has granted ENOC a derogation from the obligation
in Rule 32.1(a) of the Irish Takeover Rules to post a revised Offer
Document to Dragon Oil Shareholders, and has given ENOC permission
to amend paragraphs 4.4 and 4.5 of Part B of Appendix I to the
Offer Document so that references therein to a "revised offer
document" or a "circular containing the opinion of the Independent
Committee on the revised offer" shall be construed as references to
this announcement. Accordingly, those paragraphs 4.4 and 4.5 are
hereby so amended.
Save as expressly set out in this announcement, the terms of and
conditions to the Offer remain unchanged and, with the exception of
the increase in the Offer Price, there has been no material change
to the information previously published by ENOC or Dragon Oil or on
their behalf in relation to the Offer.
The Increased Offer will be governed by the laws of Ireland and
will be subject to the requirements of the Irish Takeover Rules and
applicable laws.
9. Acceptance of the Increased Offer
Dragon Oil Shareholders who have already validly accepted the
Original Offer need take no further action; their acceptances will
be treated by ENOC as acceptances of the Increased Offer.
This announcement will be posted to all Dragon Oil Shareholders,
and the Increased Offer will remain open for acceptance until 3.00
p.m. (Dublin time) on 28 August 2015 (or such later time as ENOC
may determine).
Dragon Oil Shareholders who have not already done so should
complete and return a Form of Acceptance as soon as possible. All
Dragon Oil Shareholders who have not already accepted the Offer but
wish to accept the Increased Offer, whether they hold their Dragon
Oil Shares in certificated (i.e. not in CREST) or uncertificated
form (i.e. in CREST), should complete and return a Form of
Acceptance as soon as possible. Completion and return of the Form
of Acceptance that accompanied the Offer Document, being the Form
of Acceptance for the Original Offer will be treated by ENOC as
acceptance of the Increased Offer.
Instructions for completion of the Form of Acceptance are set
out in paragraph 10 of Part II and Part C of Appendix 1 of the
Offer Document, as well as in the Form of Acceptance.
If you hold your Dragon Oil Shares in certificated form (that
is, not in CREST), to accept the Increased Offer, the Form of
Acceptance should be completed, signed and returned in the envelope
(reply-paid) that was enclosed with the Offer Document together
with your share certificate(s) and/or other document(s) of title,
by post to Capita Asset Services, Shareholder solutions, at P.O.
Box 7117, Dublin 2, Ireland or (during normal business hours) by
hand to Capita Asset Services, Shareholder solutions, 2 Grand Canal
Square, Dublin 2, Ireland, as soon as possible and, in any event,
so as to be received by not later than 3.00 p.m. (Irish time) on 28
August 2015.
If you hold your Dragon Oil Shares in CREST, to accept the
Increased Offer, the Form of Acceptance should be completed, signed
and returned in the envelope (reply-paid) enclosed with the Offer
Document, by post to Capita Asset Services, Shareholder solutions,
at P.O. Box 7117, Dublin 2, Ireland or (during normal business
hours) by hand to Capita Asset Services, Shareholder solutions, 2
Grand Canal Square, Dublin 2, Ireland, as soon as possible and, in
any event, so as to be received by not later than 3.00 p.m. (Irish
time) on 28 August 2015 and you should ensure that you send (or, if
you are a CREST sponsored member, procure that your CREST sponsor
sends) a TTE instruction in accordance with the procedure set out
in paragraph 10 (Procedure for acceptance of the Offer) of Part II
of the Offer Document as soon as possible and, in any event, so
that the TTE instruction settles not later than 3.00 p.m. (Irish
time) on 28 August 2015.
If your Dragon Oil Shares are registered in the name of a
nominee, you should contact your broker, investment dealer, bank,
trust company or other nominee for assistance in respect of the
Increased Offer.
If you have any questions about this document or are in any
doubt as to the procedure for acceptance of the Increased Offer,
please contact the Capita Asset Services, Shareholder solutions
helpline on telephone number 01 5530050 (or +353 1 5530050, if
telephoning from outside Ireland). The helpline cannot provide
advice on the merits of the Offer or give any financial, legal or
tax advice.
10. Settlement of consideration payable under the Increased Offer
Settlement of the consideration to which any Dragon Oil
Shareholder is entitled under the Increased Offer, except as
provided in paragraph 7 of Part B of Appendix I to the Offer
Document in the case of certain Overseas Shareholders, will be
effected:
(a) in the case of acceptances of received, complete in all
respects, by the date of this announcement, within 14 days; or
(b) in the case of acceptances of the Increased Offer received,
complete in all respects, after the date of this announcement but
while the Increased Offer remains open for acceptance, within 14
days of such receipt.
All cash payments will be made in pounds sterling by a cheque
drawn at a branch of an UK clearing bank.
11. Updated Information
The following table shows the Capital Closing Price of Dragon
Oil Shares as derived from the Irish Stock Exchange and London
Stock Exchange on the first dealing day in July 2015 and at the
close of business on the latest practicable date prior to the
release of this announcement. The share prices are sourced from the
Daily Official Lists.
Date Closing Price Closing Price
Irish Stock Exchange (cents) London Stock Exchange (pence)
1 July 2015 1032.0 732.5
31 July 2015 1034.0 733.0
Enquiries:
ENOC
Aakash Nijhawan
Norman Blake
Vedant Venkatesh
Aya Yassein +971 4 313 4700
Barclays Bank PLC, acting
through its Investment Bank
(Financial Adviser to ENOC)
Derek Shakespeare
Khaled El Dabag
Simon Oxley
Bertie Whitehead
Hugh Moran
Merrill Lynch International
("BofA Merrill Lynch") (Financial
Adviser to ENOC)
Ashwin Punde +44 (0) 20 7623 2323
Geoff Iles
Tony White
Marc Sfeir
Thomas Milner +44 (0) 20 7628 1000
Bell Pottinger (Communications
Adviser to ENOC)
Gavin Davis
Lorna Cobbett
Henry Lerwill +44 (0) 2037722500
Dragon Oil +44 (0) 20 7647
Anna Gavrilova, Investor Relations 7804
Nomura International plc (Joint
Financial Adviser and Joint Corporate
Broker to Dragon Oil)
Andrew Forrester
John Bigham
Henry Phillips
Nicholas Marren +44 (0) 20 7521
Wouter Leemhuis 2000
Davy (Joint Financial Adviser and
Joint Corporate Broker to Dragon
Oil)
John Frain
Brian Garrahy +353 (1) 679
Paul Burke 6363
Citigate Dewe Rogerson (PR Adviser
to Dragon Oil) +44 (0) 20 7638
Martin Jackson 9571
Legal Information
The release, publication or distribution of this announcement in
or into certain jurisdictions may be restricted by the laws of
those jurisdictions. Accordingly, copies of this announcement and
all other announcements relating to the Offer are not being, and
must not be, released, published, mailed or otherwise forwarded,
distributed or sent in, into or from any Restricted Jurisdiction.
Persons receiving such announcements (including, without
limitation, nominees, trustees and custodians) should observe these
restrictions. Failure to do so may constitute a violation of the
securities laws of any such jurisdiction. To the fullest extent
permitted by applicable law, the companies involved in the Offer
disclaim any responsibility or liability for the violations of any
such restrictions by any person.
The directors of Dragon Oil accept responsibility for the
information contained in this announcement relating to Dragon Oil,
the Dragon Oil Group, the directors of Dragon Oil and members of
their immediate families, related trusts and persons connected with
them. To the best of the knowledge and belief of the directors of
Dragon Oil (who have taken all reasonable care to ensure such is
the case), the information contained in this announcement for which
they accept responsibility is in accordance with the facts and does
not omit anything likely to affect the import of such
information.
The members of the Independent Committee accept responsibility
for the information in relation to the Offer contained in this
announcement. To the best of the knowledge and belief of the
members of the Independent Committee (who have taken all reasonable
care to ensure that such is the case), the information contained in
this announcement for which they accept responsibility is in
accordance with the facts and does not omit anything likely to
affect the import of such information.
The Directors of ENOC accept responsibility for the information
contained in this announcement other than that relating to Dragon
Oil, the Dragon Oil Group, the directors of Dragon Oil and members
of their immediate families, related trusts and persons connected
with them and the information which is the responsibility of the
Independent Committee contained herein. To the best of the
knowledge and belief of the Directors of ENOC (who have taken all
reasonable care to ensure that such is the case), the information
contained in this announcement is in accordance with the facts and
does not omit anything likely to affect the import of such
information.
Barclays, which is authorised by the Prudential Regulation
Authority and regulated in the United Kingdom by the Financial
Conduct Authority and the Prudential Regulation Authority, is
acting exclusively for ENOC and for no-one else in connection with
the matters set out in this announcement and will not be
responsible to anyone other than ENOC for providing the protections
afforded to clients of Barclays nor for providing advice in
connection with the matters set out in this announcement.
BofA Merrill Lynch, a subsidiary of Bank of America Corporation,
is acting exclusively for ENOC and for no one else in connection
with the Offer and will not be responsible to anyone other than
ENOC for providing the protections afforded to its clients or for
providing advice in relation to the Offer.
Nomura, which is authorised by the Prudential Regulation
Authority and regulated in the United Kingdom by the Financial
Conduct Authority and Prudential Regulation Authority, is acting
exclusively for the Independent Committee and no one else in
connection with this announcement and will not be responsible to
anyone other than the Independent Committee for providing the
protections afforded to clients of Nomura nor for providing advice
in connection with this announcement or any matter referred to
herein.
Davy, which is authorised and regulated by the Central Bank of
Ireland, is acting exclusively for the Independent Committee and no
one else in connection with this announcement and will not be
responsible to anyone other than the Independent Committee for
providing the protections afforded to clients of Davy nor for
providing advice in connection with this announcement or any matter
referred to herein
A copy of this announcement will be available at
www.dragonoiloffer.com. The content of the website referred to in
this announcement is not incorporated into and does not form part
of this announcement.
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities whether pursuant to this
announcement or otherwise.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Irish Takeover Rules, if
any person is, or becomes, 'interested' (directly or indirectly) in
1 per cent. or more of any class of 'relevant securities' of Dragon
Oil, all 'dealings' in any 'relevant securities' of Dragon Oil
(including by means of an option in respect of, or a derivative
referenced to, any such 'relevant securities') must be publicly
disclosed by not later than 3:30 pm (Irish time) on the 'business
day' following the date of the relevant transaction. This
requirement will continue until the date on which the Offer becomes
effective or on which the 'offer period' otherwise ends. If two or
more persons co-operate on the basis of any agreement, either
express or tacit, either oral or written, to acquire an 'interest'
in 'relevant securities' of Dragon Oil, they will be deemed to be a
single person for the purpose of Rule 8.3 of the Irish Takeover
Rules.
Under the provisions of Rule 8.1 of the Irish Takeover Rules,
all 'dealings' in 'relevant securities' of Dragon Oil by ENOC, or
by any party 'acting in concert' with either of them, must also be
disclosed by no later than 12 noon (Irish time) on the '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, can be found
on the Panel's website at www.irishtakeoverpanel.ie.
'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 Irish Takeover
Rules, which can be found on the Panel's website. If you are in any
doubt as to whether you are required to disclose a dealing under
Rule 8, please consult the Panel's website at
www.irishtakeoverpanel.ie or contact the Panel on telephone number
+353 1 678 9020 or fax number +353 1 678 9289.
Appendix 1
Interests and Dealings Information
1. Interests and short positions in relevant Dragon Oil securities
As at the close of business on 31 July 2015, the latest
practicable date prior to publication of this announcement, Baillie
Gifford and Elliott Capital Advisors were interested in the
following relevant Dragon Oil securities:
Number of Dragon Oil
BAILLIE GIFFORD sHARES
-------------------------- ---------------------
Baillie Gifford & Co. 12,322,014
-------------------------- ---------------------
Baillie Gifford Overseas
Limited 22,621,492
-------------------------- ---------------------
Total 34,943,506
-------------------------- ---------------------
Number of Dragon Oil
ELLIOTT CAPITAL ADVISORS sHARES
----------------------------------- ---------------------
Elliott International L.P. 66
----------------------------------- ---------------------
The Liverpool Limited Partnership 34
----------------------------------- ---------------------
Total 100
----------------------------------- ---------------------
2. Dealings in relevant Dragon Oil Securities
2.1 During the disclosure period, there were no dealings in
relevant Dragon Oil securities by Baillie Gifford, save as set out
below
(1) Shareholder (2) Transaction (3) Date (4) Quantity (5) Price
Type
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client Addition 27/07/2015 81,432 7.18
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client New Buy 21/07/2015 19,442 7.17
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 16/07/2015 5,278 7.26
----------------- ----------------- --------------- ------------- ----------
01/07/2015
Baillie Gifford -
Client Addition 02/07/2015 182,897 7.33
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 26/06/2015 24,753 7.27
----------------- ----------------- --------------- ------------- ----------
08/06/2015
Baillie Gifford -
Client Addition 09/06/2015 57,000 6.76
----------------- ----------------- --------------- ------------- ----------
08/06/2015
Baillie Gifford -
Client Addition 09/06/2015 2,111,315 6.76
----------------- ----------------- --------------- ------------- ----------
08/06/2015
Baillie Gifford -
Client New Buy 09/06/2015 842,430 6.76
----------------- ----------------- --------------- ------------- ----------
08/06/2015
Baillie Gifford -
Client Addition 09/06/2015 62,665 6.76
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client Addition 30/04/2015 100,000 6.3
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Complete
Client Sale 30/04/2015 97,186 6.3
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 28/04/2015 244,880 6.45
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client New Buy 28/04/2015 250,000 6.45
----------------- ----------------- --------------- ------------- ----------
03/03/2015
Baillie Gifford -
Client Addition 06/03/2015 204,500 5.39
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client New Buy 11/02/2015 125,489 5.86
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 11/02/2015 104,484 5.86
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 11/02/2015 8,154 5.86
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 11/02/2015 1,941 5.86
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 11/02/2015 10,910 5.86
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client New Buy 10/02/2015 43,486 5.82
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client New Buy 10/02/2015 28,971 5.82
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client New Buy 10/02/2015 169,291 5.82
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial 09/02/2015
Client Sale - 10/02/2015 393,330 5.82
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 06/02/2015 65,620 5.82
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 15/01/2015 1,238 4.93
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 29/12/2014 9,149 5.25
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial 08/12/2014
Client Sale - 09/12/2014 102,400 4.98
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 04/11/2014 16,361 5.4
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 04/11/2014 23,688 5.4
----------------- ----------------- --------------- ------------- ----------
29/10/2014
Baillie Gifford Partial -
Client Sale 31/10/2014 87,100 5.24
----------------- ----------------- --------------- ------------- ----------
29/10/2014
Baillie Gifford Partial -
Client Sale 31/10/2014 30,900 5.24
----------------- ----------------- --------------- ------------- ----------
24/10/2014
Baillie Gifford Partial -
Client Sale 29/10/2014 588,710 5.16
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client Addition 14/10/2014 70,089 5.23
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 07/10/2014 62,158 5.52
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client Addition 26/09/2014 6,062 6.01
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client New Buy 28/08/2014 64,725 6.12
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client New Buy 28/08/2014 64,725 6.12
----------------- ----------------- --------------- ------------- ----------
26/08/2014
Baillie Gifford -
Client New Buy 28/08/2014 869,779 6.08
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 22/08/2014 6,224 5.97
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 18/08/2014 56,862 5.8
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client Addition 01/08/2014 31,301 5.67
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client Addition 18/07/2014 91,400 5.7
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 17/07/2014 2,209 5.73
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 08/07/2014 80,500 5.9
----------------- ----------------- --------------- ------------- ----------
26/06/2014
Baillie Gifford Partial -
Client Sale 28/08/2014 40,428 6.07
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 29/05/2014 130,800 5.95
----------------- ----------------- --------------- ------------- ----------
28/05/2014
Baillie Gifford -
Client Addition 29/05/2014 48,500 5.93
----------------- ----------------- --------------- ------------- ----------
21/05/2014
Baillie Gifford -
Client Addition 03/06/2014 544,700 5.95
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 06/05/2014 45,113 6.19
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 22/04/2014 52,900 5.96
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client Addition 17/04/2014 4,370 6.02
----------------- ----------------- --------------- ------------- ----------
15/04/2014
Baillie Gifford -
Client Addition 16/04/2014 80,000 5.93
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client Addition 11/04/2014 18,276 5.95
----------------- ----------------- --------------- ------------- ----------
04/04/2014
Baillie Gifford -
Client Addition 07/04/2014 278,958 5.71
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford
Client New Buy 21/03/2014 73,658 5.76
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 19/03/2014 15,568 5.77
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 18/03/2014 9,675 5.79
----------------- ----------------- --------------- ------------- ----------
Baillie Gifford Partial
Client Sale 17/03/2014 13,216 5.77
----------------- ----------------- --------------- ------------- ----------
2.2 During the disclosure period, there were no dealings in
relevant Dragon Oil securities by Elliott Capital Advisors, save as
set out below
(1) Shareholder (2) Transaction (3) Date (4) Quantity (5) Price
Type
----------------------- ----------------- ------------ ------------- ----------
Acquisition
Elliott International of voting
L.P. rights 22/05/2015 66 682p
----------------------- ----------------- ------------ ------------- ----------
Acquisition
The Liverpool of voting
Limited Partnership rights 22/05/2015 34 682p
----------------------- ----------------- ------------ ------------- ----------
Acquisition
Elliott International of long
L.P. CFD position 15/06/2015 294,819 725p
----------------------- ----------------- ------------ ------------- ----------
Acquisition
The Liverpool of long
Limited Partnership CFD position 15/06/2015 151,875 725p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 16/06/2015 206,805 725p
----------------------- ----------------- ------------ ------------- ----------
Increasing
The Liverpool long CFD
Limited Partnership position 16/06/2015 106,536 725p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 18/06/2015 576,228 722.4595p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 18/06/2015 296,844 722.4595p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 18/06/2015 125,400 722.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 18/06/2015 64,600 722.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 24/06/2015 62,511 722.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 24/06/2015 32,202 722.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 24/06/2015 1,716,000 722.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 24/06/2015 884,000 722.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 25/06/2015 264,000 722.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 25/06/2015 136,000 722.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 30/06/2015 660,000 726p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 30/06/2015 340,000 726p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 09/07/2015 5,214,000 727p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 09/07/2015 2,686,000 727p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 10/07/2015 381,295 726p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 10/07/2015 196,425 726p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 13/07/2015 530,473 727p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 13/07/2015 273,274 727p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 13/07/2015 660,000 727p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 13/07/2015 340,000 727p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 16/07/2015 105,600 725.75p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 16/07/2015 54,400 725.75p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 17/07/2015 3,663,000 722p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 17/07/2015 1,887,000 722p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 17/07/2015 1,122,000 720.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 17/07/2015 578,000 720.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 20/07/2015 1,485,000 719p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 20/07/2015 765,000 719p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 21/07/2015 330,000 717p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 21/07/2015 170,000 717p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 21/07/2015 330,000 717p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 21/07/2015 170,000 717p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 22/07/2015 219,221 716.376p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 22/07/2015 112,932 716.376p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 23/07/2015 66,000 717.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 23/07/2015 34,000 717.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 24/07/2015 99,000 717.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 24/07/2015 51,000 717.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 24/07/2015 250,800 717.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 24/07/2015 129,200 717.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 24/07/2015 363,000 717.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 24/07/2015 187,000 717.5p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 27/07/2015 102,300 717p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 27/07/2015 52,700 717p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 28/07/2015 277,200 717p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 28/07/2015 142,800 717p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott International long CFD
L.P. position 29/07/2015 405,895 717p
----------------------- ----------------- ------------ ------------- ----------
Increasing
Elliott Associates long CFD
L.P. position 29/07/2015 209,097 717p
----------------------- ----------------- ------------ ------------- ----------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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