DNX Dana Petroleum

 

TIDMDNX 
 
RNS Number : 3560T 
Dana Petroleum PLC 
27 September 2010 
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR 
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE 
RELEVANT LAWS OF SUCH JURISDICTION 
 
Dana Petroleum plc 
("Dana" or the "Company") 
 
Indefinite adjournment of general meeting convened to approve the proposed 
acquisition of certain upstream oil and gas assets from Petro-Canada UK Limited 
for the purposes of Rule 21 of the City Code on Takeovers and Mergers (the 
"Takeover Code") 
 
On 8 September 2010, Dana announced that the Company (through one of its 
subsidiaries) had entered into an agreement (the "Agreement") with Petro-Canada 
UK Limited ("PCUK"), a wholly owned subsidiary of Suncor Energy Inc., to acquire 
PCUK's interests in certain UK assets (the "PCUK Assets") for a cash 
consideration of GBP240 million (the "Proposed Acquisition"). 
 
By notice to shareholders dated 10 September 2010, the Company convened a 
general meeting of its shareholders to be held at 11:00 a.m. today for the 
purposes of approving the Proposed Transaction in accordance with Rule 21.1 of 
the Takeover Code (the "General Meeting"). 
 
On 20 September 2010, Korea National Oil Corporation ("KNOC") (as offeror for 
all of the Company's issued and to be issued share capital) provided its consent 
to the Panel on Takeovers and Mergers (the "Panel") in relation to the Proposed 
Acquisition and the Panel waived the requirement, pursuant to Note 1 on Rule 
21.1 of the Takeover Code, for the consent of the Company's shareholders to the 
Proposed Acquisition. 
 
Consequently, with the consent of the General Meeting, the General Meeting was 
today adjourned indefinitely without the resolution to approve the Proposed 
Acquisition (the "Resolution") being put to the vote, on the basis that the 
Resolution was now redundant. 
 
 
27 September 2010 
 
Enquiries 
 
+-------------------------+---------------+ 
| Dana Petroleum plc      | 01224 652 400 | 
+-------------------------+---------------+ 
| Tom Cross, Chief        |               | 
| Executive Officer       |               | 
+-------------------------+---------------+ 
| John Arnton, Company    |               | 
| Secretary               |               | 
+-------------------------+---------------+ 
|                         |               | 
+-------------------------+---------------+ 
| RBS Hoare Govett        | 020 7678 8000 | 
+-------------------------+---------------+ 
| Stephen Bowler          |               | 
+-------------------------+---------------+ 
| John MacGowan           |               | 
+-------------------------+---------------+ 
|                         |               | 
+-------------------------+---------------+ 
| RBC Capital Markets     | 020 7653 4000 | 
+-------------------------+---------------+ 
| Tim Chapman             |               | 
+-------------------------+---------------+ 
| Josh Critchley          |               | 
+-------------------------+---------------+ 
|                         |               | 
+-------------------------+---------------+ 
| Morgan Stanley & Co.    | 020 7425 8000 | 
| Limited                 |               | 
+-------------------------+---------------+ 
| Andrew Foster           |               | 
+-------------------------+---------------+ 
| Ian Hart                |               | 
+-------------------------+---------------+ 
|                         |               | 
+-------------------------+---------------+ 
| Brunswick Group LLP     | 020 7404 5959 | 
+-------------------------+---------------+ 
| Patrick Handley         |               | 
+-------------------------+---------------+ 
|                         |               | 
+-------------------------+---------------+ 
| College Hill Associates | 020 7457 2020 | 
+-------------------------+---------------+ 
| Nick Elwes              |               | 
+-------------------------+---------------+ 
 
 
 
 
 
 
The directors of Dana accept responsibility for the information contained in 
this announcement. To the best of the knowledge and belief of the directors, who 
have taken all reasonable care to ensure such is the case, the information 
contained in this announcement is in accordance with the facts and does not omit 
anything likely to affect the import of such information. 
 
RBS Hoare Govett Limited, which is authorised and regulated in the United 
Kingdom by the Financial Services Authority, is acting exclusively for Dana and 
no one else in connection with the Offer and this announcement and will not be 
responsible to anyone other than Dana for providing the protections afforded to 
clients of RBS Hoare Govett Limited nor for providing advice in connection with 
the Offer or this announcement or any matter referred to herein. 
 
Royal Bank of Canada Europe Limited ("RBC Capital Markets"), which is authorised 
and regulated in the United Kingdom by the Financial Services Authority, is 
acting exclusively for Dana and no one else in connection with the Offer and 
this announcement and will not be responsible to anyone other than Dana for 
providing the protections afforded to clients of RBC Capital Markets nor for 
providing advice in connection with the Offer or this announcement or any matter 
referred to herein. 
 
Morgan Stanley & Co. Limited, which is authorised and regulated in the United 
Kingdom by the Financial Services Authority, is acting exclusively for Dana and 
no one else in connection with the Offer and this announcement and will not be 
responsible to anyone other than Dana for providing the protections afforded to 
clients of Morgan Stanley & Co. Limited nor for providing advice in connection 
with the Offer or this announcement or any matter referred to herein. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCPGUAPBUPUGGM 
 

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