Ithaca Energy PLC (GB:ITH) has released an update.
Ithaca Energy PLC has announced a significant business development as it moves forward with the acquisition of nearly all of Eni S.p.A.’s UK upstream oil and gas assets, a deal that’s been reclassified under new UK Listing Rules. Despite the reclassification, which eliminates the need for a shareholder vote on the transaction, the company is proceeding with a shareholder meeting to approve the issuance of shares for the deal. The Board recommends shareholders to support the transaction, which aligns with Ithaca’s growth strategy and commitment to energy security in the UK.
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