Capricorn Energy has announced a further extension to the deadline for Alamadiyaf al-Masiyyah to make a firm offer for the company.
The Edinburgh-based oil and gas explorer revealed in March that it had received a number of unsolicited proposals from the member of the Cafani Group, regarding a possible all cash offer to acquire the business.
Today’s “put up or shut up” deadline has now been extended to 5pm on 29 July to allow the Middle East based company more time to finalise its funding arrangements.
Capricorn was founded as Cairn Energy by former Scottish rugby international Bill Gammell. Its biggest single shareholder is Palliser Capital with 13.83% of the stock, followed by Newlyn Partners with 13.6% and Morgan Stanley on 11.8%.
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