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Salamander confirms receiving Ophir's takeover proposal


Published Oct 29, 2014
Salamander Energy

Salamander Energy Plc confirmed that it has received a conditional proposal from Ophir Energy plc (Ophir) with respect to a potential offer for the Company, the terms of which Salamander is seeking to clarify.

In addition, the Company is also in receipt of an approach from a consortium led by Compania Espanola de Petroleos (CEPSA) and Jynwel Capital (the CEPSA Consortium). The Board of Salamander has not received the detail of the CEPSA Consortium's proposal or confirmation that any offer will be forthcoming.

The proposals from Ophir and the CEPSA Consortium are subject to a number of conditions, including due diligence and the receipt of a unanimous recommendation from the Board of Salamander.

The Company is currently in discussions with both Ophir and the CEPSA Consortium in relation to their respective proposals. However, there can be no certainty that any offer will be forthcoming, or as to the terms of any such offer. Accordingly, shareholders are advised to take no action at this time.

Tags: Salamander Energy




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