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 OR REGULATIONS OF THAT JURISDICTION
FOR IMMEDIATE RELEASE
16 July 2012
Shell Exploration and Production (XL) B.V.
(a wholly-owned subsidiary of Royal Dutch Shell plc)
Cove Energy plc
Shell Exploration and Production (XL) B.V.("Shell Bidco"), a wholly-owned
subsidiary of Royal Dutch Shell plc ("Shell"), made an offer in February 2012
to acquire Cove Energy plc ("Cove"), in order to enter potential liquefied
natural gas developments in Mozambique, and other exploration positions in the
region. Subsequently, the Takeover Panel has announced an Auction Procedure to
conclude this potential takeover. Shell Bidco has today decided not to revise
its offer of 220 pence in cash for each share of Cove, and not take part in the
Auction Procedure for Cove.
Shell Media Relations +44 207 934 5550
+31 70 377 8750
Shell Investor Relations
Europe +31 70 377 3996
United States +1 713 241 2069
Morgan Stanley & Co. Limited (Financial adviser to Shell Bidco) +44 207 425
Morgan Stanley is acting as financial adviser to Shell Bidco and no one else in
relation to the Offer and will not be responsible to anyone other than Shell
Bidco for providing the protections afforded to the clients of Morgan Stanley
nor for providing advice in relation to the Offer, the contents of this
announcement or any other matter or arrangement referred to herein.
The release, publication or distribution of this announcement in jurisdictions
other than the United Kingdom may be restricted by law or regulation and
therefore persons into whose possession this announcement comes should inform
themselves about and observe such restrictions. Any failure to comply with
these restrictions may constitute a violation of securities laws of any such
jurisdictions. To the fullest extent permitted by law, Shell Bidco and Shell
disclais any responsibility or liability for the violation of such restrictions
by such persons.
A copy of this announcement will be made available free of charge, subject to
certain restrictions relating to persons resident in Restricted Jurisdictions
on Shell's website at www.shell.com/home/content/investor/ by no later than
12 noon on 17 July 2012.
Terms not defined in this announcement shall have the meanings given to them in
the offer document published by Shell Bidco on 2 May 2012.