On 17 August 2012, Melrose Resources plc (Melrose) and Petroceltic International plc (Petroceltic) announced that they had reached agreement on the terms of a recommended merger to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Merger"). A Scheme Circular containing, amongst other things, notices of the Court Meeting and the General Meeting, details of the Scheme and the terms and conditions of the Merger was posted to Melrose Shareholders on 24 August 2012.

The Directors of Melrose are pleased to announce that the High Court of Justice in England and Wales has today, 9 October 2012, made an order sanctioning the Scheme and confirming the Reduction of Capital.

The Court Order relating to the Scheme and the associated Reduction of Capital together with a Statement of Capital will become effective on registration of the relevant court orders by the Registrar of Companies. It is expected that the Court Orders will be registered by the Registrar of Companies tomorrow, 10 October 2012, and accordingly, the Scheme will become effective on that date.

Tags: Melrose Resources plc, Petroceltic International plc