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Cairn Energy PLC (CNE)

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Thursday 25 November, 2010

Cairn Energy PLC

Circular to Vedanta Sharehold

RNS Number : 8325W
Cairn Energy PLC
25 November 2010
 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, OR INTO, THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN

 

 

FOR IMMEDIATE RELEASE                                                                                         25 November 2010

 

 

CAIRN ENERGY PLC ("Cairn")

 

Proposed part sale of shareholding in Cairn India Limited ("Cairn India")

to Vedanta Resources plc ("Vedanta")

 

Circular to Vedanta Shareholders

 

Cairn has been notified that a circular (the "Circular") in connection with the proposed part sale of Cairn's shareholding in Cairn India to Vedanta will be posted to Vedanta shareholders today.

 

The Circular contains a notice convening a General Meeting of Vedanta shareholders. The Vedanta General Meeting will be held at 3.00 p.m. on 13 December 2010 at The Lincoln Centre, 18 Lincoln's Inn Fields, London, WC2A 3ED.

 

As previously announced, at the Cairn General Meeting held on 7 October 2010, Cairn's shareholders voted overwhelmingly in favour (99%) of approving the proposed part sale of Cairn's shareholding in Cairn India to Vedanta.

 

 

Enquiries to:

 

Cairn Energy PLC

Sir Bill Gammell, Chief Executive

Dr Mike Watts, Deputy Chief Executive

Jann Brown, Finance Director

David Nisbet, Corporate Affairs

Tel: 0131 475 3000

 

Brunswick Group LLP

Patrick Handley

David Litterick

 

Tel: 0207 404 5959

 

 

 

NOTES TO EDITORS:

 

Cairn Energy PLC

Ø Cairn Energy PLC ("Cairn") is an Edinburgh-based oil and gas exploration and production company listed on the London Stock Exchange.

Ø Following the IPO of Cairn India in January 2007, there are two separate arms to the business:

Cairn India limited ("Cairn India") is listed on the Bombay Stock Exchange and the National Stock Exchange of India and has interests in a total of 11 acreage blocks in India and Sri Lanka. Cairn currently retains a 62.37% interest in Cairn India.

Capricorn Oil Limited ("Capricorn"), a 100% subsidiary of Cairn, is focused on exploration. Capricorn has assets in, Nepal, Greenland, Albania, and pending licence awards in Spain.

Ø "Cairn" where referred to in this release means Cairn Energy PLC and/or its subsidiaries (including Cairn India and Capricorn), as appropriate.

Ø "Cairn India" where referred to in the release means Cairn India Limited and/or its subsidiaries, as appropriate.

Ø Cairn has previously focused its activities on the geographic region of South Asia, resulting in a significant number of oil and gas discoveries.  In particular, Cairn made a major oil discovery (Mangala) in Rajasthan in the north west of India at the beginning of 2004. Cairn has now made more than 20 discoveries in Rajasthan block RJ-ON-90/1.

Ø Cairn India is headquartered in Gurgaon on the outskirts of Delhi, with operational offices in Chennai, Gujarat, Andhra Pradesh and Rajasthan.

 

For further information on Cairn please go to: www.cairnenergy.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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