On 10 July 2009, Centrica Resources (UK) Limited ("Centrica Resources" or the "Offeror"), a wholly owned subsidiary of Centrica, announced the terms of a final cash offer to acquire the entire issued (and to be issued) share capital of Venture at an offer price of 845 pence per share (the "Offer").
Centrica Resources announces that it has today acquired in the market a further 1,380,858 ordinary shares in Venture, equivalent to approximately 0.92 per cent. of Venture's issued share capital, at a price of 845 pence per share.
Centrica Resources now holds a total of 44,781,179 ordinary shares of Venture, equivalent to approximately 29.9 per cent. of Venture's issued share capital.
Centrica Resources notes that Rule 5 of the City Code on Takeovers and Mergers restricts the acquisition of 30 per cent. or more of the voting rights in Venture, unless it receives offeree board recommendation for the acquisition or other certain other conditions specified under Rule 5.2 (c) are met.
Further announcements will be made as and when appropriate.
The Offer is subject to the Conditions and further terms set out in the announcement made by Centrica and Centrica Resources on 10 July 2009 and the terms and conditions to be set out in the full offer documentation when issued (the "Offer Documentation"). Please carefully read the Offer Documentation in its entirety before making a decision with respect to the Offer.