Capricorn Energy has confirmed its proposed return of $500m worth of proceeds received from the resolution of its tax dispute with the Government of India, following approval by the Financial Conduct Authority.
From today, a tender offer will be open to all eligible Capricorn shareholders, who will be able to select the price at which they wish to tender their shares for purchase, or select to tender their shares at the clearing strike price.
If the company does not receive sufficient take-up to allow it to fully deploy the money, it plans to consider the return of the remainder in the form of a special dividend.
