Imperial Energy PLC confirms that it is in the course of finalising the terms of a possible recommended pre-conditional cash offer with ONGC Videsh Limited (“OVL”) of 1,250 pence per Imperial share to be made by Jarpeno Limited (a wholly-owned subsidiary of OVL), which would value its entire issued and to be issued ordinary share capital at approximately £1.4 billion.
This announcement does not amount to an offer under Rule 2.5 of the City Code.
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