KEYFACT Energy
Cairn Energy today announces that it will commence an initial share repurchase programme of its ordinary shares of 21/13 pence each of up to £20,000,000. This programme is being initiated prior to the anticipated larger buyback programme to commence following receipt of the Indian tax refund.
Cairn has entered into non-discretionary arrangements with Morgan Stanley & Co. International Plc (“Morgan Stanley”) in relation to the purchase by Morgan Stanley, acting as principal during the period commencing on 15 November 2021 and ending no later than 31 January 2022, of Ordinary Shares in the share capital of the Company for an aggregate purchase price of no greater than £20,000,000 and the on-sale of such Shares by Morgan Stanley to Cairn.
KeyFacts Energy: Cairn Energy UK country profile