Following the announcement by Trinity Exploration & Production Plc on 24 July 2024 that it had received a possible offer from Lease Operators Limited, the boards of directors of Lease Operators and Trinity are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition by Lease Operators of the entire issued and to be issued share capital of Trinity (excluding any Trinity Shares held in treasury).

It is intended that the Acquisition will be implemented by way of a Court-sanctioned scheme of arrangement between Trinity and Scheme Shareholders pursuant to Part 26 of the Companies Act.