News

Capricorn Energy PLC is a Main Market-listed oil and gas exploration and production company with producing assets in Egypt. Headquartered in Edinburgh, the Company is focused on maximising value from its Egyptian portfolio through operational excellence and disciplined capital allocation.

DNO Bidco AS is private limited company directly wholly owned by DNO ASA which is a Norwegian oil and gas exploration and production company, headquartered in Oslo and listed on the Oslo Stock Exchange. Its key region is the Kurdistan Region of Iraq, where it has historically held significant oil production interests, alongside interests in the Norwegian Continental Shelf.

On 1 September 2026, the boards of DNO, Bidco and Capricorn announced that they had reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Capricorn by Bidco. The Acquisition is to be effected by means of a Scottish scheme of arrangement under Part 26 of the Companies Act.

On 17 September the boards of DNO, Bidco and Capricorn further announced a revision to the terms of the Acquisition pursuant to which Capricorn Shareholders will be entitled to receive an amount equal to the full Acquisition Value in cash from Bidco.

Publication of Scheme Document

Having helped with the production of the scheme document for the previous offer by Genel Energy for Capricorn in July 2026, the Perivan shareholder communications team was delighted to work again with Ashurst Perkins Coie, who acted as Legal Adviser on the Scheme and associated documents, which were successfully published and posted to qualifying shareholders on 21 September 2026.

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Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies and are a market leader for the production of documentation relating to Mergers & Acquisitions.