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Cove Energy reports offer update and recommendation


Published Jul 18, 2012
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Cove Energy

Cove notes the announcement made on 16 July 2012 by Shell Exploration and Production (XL) B.V. (Shell) in relation to its offer of 220 pence in cash for each share of Cove, stating that Shell has decided not to revise its offer and not to take part in the Auction Procedure devised and announced by the Takeover Panel on 13 July 2012.

Cove further notes the announcement made on 16 July 2012 by PTTEP Africa Investment Limited in relation to its offer of 240 pence in cash for each share of Cove (the "PTTEP Offer"), extending the PTTEP Offer to remain open for acceptance until 1:00 p.m. (London time) on 25 July 2012 (the "Closing Date").

Tags: Cove Energy




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