Recommended Revised All-Cash Offer for Capricorn Energy plc
Not for release, publication or distribution, in whole or in part, directly or indirectly in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction
Oslo, 17 September 2026 – DNO ASA, the Norwegian oil and gas operator, announces that the boards of DNO, DNO Bidco AS and Capricorn Energy plc have agreed a revision to the terms of the Acquisition announced on 1 September 2026 pursuant to which Capricorn Shareholders will be entitled to receive an amount equal to the full Acquisition Value in cash from Bidco.
The boards of the three companies believe that the Revised All-Cash Offer provides Capricorn Shareholders with greater certainty of value as compared to the Original Offer, as it is not reliant on the Capricorn Board being able to declare and pay the Permitted Dividend in full prior to the Effective Date.
The Capricorn Directors intend to recommend unanimously that Capricorn Shareholders vote in favour of the Scheme at the Court Meeting and the resolutions to be proposed at the General Meeting, each to be convened as soon as practicable.
The full announcement is attached.
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For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no
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DNO ASA is a Norwegian oil and gas operator active in the North Sea and the Middle East. Founded in 1971, DNO is Norway’s oldest oil company and the first to list on the Oslo Stock Exchange in 1981. The Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in Norway, the Kurdistan region of Iraq, the United Kingdom and Yemen. More information is available at www.dno.no.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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