India Update – Tax refund of US$1.06 billion

24 Feb 2022

India Update – Tax refund of US$1.06 billion

Capricorn is pleased to confirm that the expected Indian tax refund of INR79 billion has now been paid and net proceeds of US$1.06 billion have been received.

A circular is expected to be issued in early March detailing the shareholder resolutions required in connection with the proposed shareholder return of up to US$700 million, comprising a US$500 million tender offer and US$200 million ongoing share repurchase programme.

Enquiries to:

David Nisbet, Corporate Affairs
Tel: 0131 475 3000

Jonathan Milne/Linda Bain, Corporate Affairs
Tel: 0131 475 3000

Patrick Handley, David Litterick, Brunswick Group LLP
Tel: 0207 404 5959

About Capricorn Energy PLC

Capricorn is one of Europe’s leading independent upstream energy companies, headquartered in Edinburgh, UK.

Historically we have discovered, developed, and produced oil and gas in multiple settings throughout the world. Today our focus is on growing our current gas and liquids production base through development and exploration, with an ambition to use our strong balance sheet to expand that production base into other attractive markets and to commercialise exploration resources.

We adhere to high sustainability standards; we invest to ensure our portfolio remains competitive through stringent energy transition scenarios and we are committed to net zero carbon emissions by 2040.