Demergers Effective and Tradi

RNS Number : 7181J

EnQuest PLC

06 April 2010

 



**NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, SOUTH AFRICA OR AUSTRALIA**

EnQuest PLC

Demergers effective and trading expected to commence in shares of EnQuest PLC

All of the conditions to the Petrofac Demerger and the Lundin Demerger have been satisfied and the Demergers have become effective.

Trading in EnQuest PLC Ordinary Shares under the ticker "ENQ.L" is expected to commence on the London Stock Exchange at 8.00 am today.

CREST accounts of shareholders in Petrofac will be credited with EnQuest PLC Ordinary Shares at 8.00 am today. In the case of Petrofac shareholders who hold their Petrofac ordinary shares in certificated form, share certificates in respect of EnQuest PLC Ordinary Shares will be dispatched to such shareholders by 19 April 2010.

Conditional dealings in EnQuest PLC Ordinary Shares are expected to commence on NASDAQ OMX Stockholm at 9.00 am CET today under the ticker "ENQ". Unconditional dealings in the Ordinary Shares on NASDAQ OMX Stockholm are expected to commence on 9 April 2010, the date of Stockholm Admission.

Capitalised terms in this announcement are as defined in the Prospectus published by EnQuest PLC on 18 March 2010.

- Ends-

For further information please contact:

J. P. Morgan Cazenove                                                           Tel: [phone]

Bob McGuire

Steve Baldwin

Finsbury                                                                                   Tel: [phone]

Andrew Mitchell

Conor McClafferty

Dorothy Burwell

Disclaimer

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States. The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any restrictions on the distribution of this announcement.  Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdictions.  Persons receiving this announcement should not distribute or send it into any jurisdiction where to do so would or might contravene local securities laws or regulations.

This announcement does not constitute or form part of an offer to sell or issue or the solicitation of an offer to subscribe for or buy, any Ordinary Shares to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful and, in particular, is not for distribution or publication in or into the United States, Canada, Australia, the Republic of South Africa or Japan.

The Ordinary Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") with any securities regulatory authority or under any securities laws of any state or other jurisdiction of the United States and may not be taken up, offered, sold, resold, transferred, delivered or distributed, directly or indirectly, within, into or from the United States except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States.  There will be no public offer of securities in the United States.

The Ordinary Shares have not been and will not be registered under the applicable securities laws of Canada, Australia, the Republic of South Africa or Japan and subject to certain exceptions, the Ordinary Shares may not be offered or sold in Canada, Australia, the Republic of South Africa or Japan or to, or for the account or benefit of, any resident of Canada, Australia, the Republic of South Africa or Japan.  There will be no public offer of securities in Canada, Australia, the Republic of South Africa or Japan.

J.P. Morgan Securities Ltd. (which conducts its UK investment banking activities as J.P. Morgan Cazenove), which is authorised and regulated in the United Kingdom by the FSA, is advising the Company and no one else (whether or not a recipient of this announcement) in connection with London Admission. J.P. Morgan Securities Ltd. will not regard any other person (whether or not a recipient of this announcement) as its client in relation to London Admission and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to London Admission or any other transaction, arrangement or matter referred to in this announcement.

None of J.P. Morgan Cazenove, Nordea Markets, Royal Bank of Canada Europe Limited and Oriel Securities Limited or any of their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for/or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of announcement or its contents or otherwise arising in connection therewith.

 

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