On 1 July 2015, the document containing (among other things) the full terms of and conditions to the Offer and the procedures for acceptance (the "Offer Document") was posted by ENOC to Dragon Oil Shareholders together with the Form of Acceptance. On 2 August 2015, ENOC announced that the Offer had been increased to 800 pence in cash for each Dragon Oil Share, and had become unconditional in all respects (the "Increased Offer Announcement"). Capitalised terms used but not otherwise defined in this announcement have the meanings set out in the Offer Document and the Increased Offer Announcement.
On 7 August 2015 Dragon Oil announced that the process for delisting Dragon Oil Shares from the Irish Stock Exchange and London Stock exchange had commenced, and it is anticipated that delisting will take effect from 8:00 a.m. (Dublin time) on 7 September 2015. Consequently, the last day of trading of Dragon Oil Shares on the Irish Stock Exchange and London Stock Exchange will be 4 September 2015.
As at 3.00 p.m. (Dublin time) on 20 August 2015, ENOC had received acceptances of the Offer valid in all respects relating to 207,023,926 Dragon Oil Shares representing 41.9 per cent. of the current issued share capital of Dragon Oil and 90.1 per cent. of Dragon Oil Shares to which the Offer relates. As a result, ENOC has received sufficient acceptances of the Offer to compulsorily acquire any Dragon Oil Shares in respect of which the Offer has not been accepted (the "Compulsory Acquisition Process").
The Offer will remain open for acceptance until 3:00 p.m. (Irish time) on 14 September 2015 and will close on that date (the "Closing Date").
Following the Closing Date, ENOC will commence the Compulsory Acquisition Process under the relevant provisions of Part 5 of the European Communities (Takeover Bids (Directive 2004/25/EC)) Regulations 2006.
