Update On Off-market Purchase Alongside BASF Offer

Harbour Energy PLC

11 September 2026

 

Harbour Energy plc
(the "Company" or "Harbour Energy")

Update on off-market purchase alongside BASF offering

11 September 2026

Further to its announcement on 10 September 2026, Harbour Energy has agreed to make an off-market purchase of 53 million ordinary shares of 0.002 pence each of the Company from BASF Handels-und Exportgesellschaft mit beschränkter Haftung ("BASF") pursuant to the terms of the share purchase deed entered into between the Company and BASF that was approved by Harbour Energy's shareholders at the Annual General Meeting on 7 May 2026.

The off-market purchase is being made in conjunction with, and subject to the completion of an offering by BASF to institutional investors, the results of which have been announced by BASF today. The purchase price payable by Harbour Energy to BASF for the off-market purchase is £2.66 per ordinary share and the total consideration payable will be approximately $190 million¹.

Of the approximately $190 million off-market purchase, approximately $40m will be deducted from the ongoing $250 million share buyback announced on 6 August 2026. The purchased ordinary shares will be cancelled.

On completion of the off-market purchase and BASF's offering to institutional investors, BASF's interest in Harbour Energy's issued ordinary shares with voting rights is expected to reduce from approximately 24.3% to 16.4%.

The Company will make a further announcement upon completion of the off-market purchase.

Enquiries
Telephone [phone]
Elizabeth Brooks, SVP Investor Relations
Andy Norman, SVP Communications
Rachel Benjamin, Company Secretary

¹ Based on a foreign exchange rate of $1.3512/GBP

 

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