Statement re Cairn India
Cairn Energy PLC
07 February 2007
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, OR INTO, THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN
FOR IMMEDIATE RELEASE 7 February 2007
CAIRN ENERGY PLC
Cairn India Limited Stabilisation Period Ends
Cairn Energy PLC announces that following the commencement of trading in the
shares of its Indian subsidiary, Cairn India Limited ('Cairn India'), on the
Bombay Stock Exchange Limited ('BSE') and the National Stock Exchange of India
Limited ('NSE'), the stabilisation period has concluded.
As announced on 9 January 2007, DSP Merrill Lynch Limited, as stabilising agent,
over-allocated 33 million Cairn India shares. Stabilising transactions have
occurred involving 19.9 million Cairn India shares. As a result, Cairn India
will issue 13.1 million shares in order to cover the overallocation and Cairn
will receive additional proceeds of Rs 2,093 million (approximately US$ 47.5
million). Following the stabilising transactions, Cairn India will have 1,778
million shares in issue and Cairn will hold 69.0% of the enlarged share capital
in Cairn India.
ABN AMRO Rothschild and Merrill Lynch acted as joint global coordinators and
bookrunners and Morgan Stanley as bookrunner in relation to the flotation.
Enquiries to:
Analysts/Investors
Jann Brown, Finance Director Tel: 0131 475 3000
Media Tel: 0207 404 5959
Brunswick Group LLP:
Patrick Handley, Mark Antelme, Phoebe Buckland
Cairn India Media Enquiries
David Nisbet Tel: 00 91 99 1048 7715
Note to editors:
'Cairn' where referred to in this release means Cairn Energy PLC and/or its
subsidiaries (including Cairn India), as appropriate.
Cairn India filed a Prospectus for this offering with the Securities and
Exchange Board of India. This announcement is not an offer for sale, or a
solicitation of offers to purchase, the shares in Cairn India offered in the
offering (the 'Shares') in any jurisdiction. No action will be taken to permit
the Shares to be sold in a public offer in any jurisdiction outside India. In
particular, no offer to the public will be made in any Member State of the
European Economic Area or in the United States. The Shares have not been and
will not be registered under the US Securities Act of 1933, as amended. This
announcement and the information contained herein are not for publication,
distribution or release in, or into, the United States, Canada, Australia or
Japan.
This information is provided by RNS
The company news service from the London Stock Exchange
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