Ithaca Energy PLC (GB:ITH) has released an update.
Ithaca Energy PLC has announced the publication of a Circular and Prospectus regarding its proposed merger with Eni S.p.A.’s UK oil and gas assets, signaling a significant step towards creating one of the UK North Sea’s largest resource bases. The company expects this strategic move to bolster its growth, aiming to become the UK’s top producer by the early 2030s. Shareholders will convene at a general meeting to vote on the issuance of new shares for the transaction, with the completion anticipated in Q4.
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