Genel Energy rejects DNO proposal for possible cash offer at 69 pence per share

Genel Energy's board has rejected an unsolicited cash offer of 69 pence per share from DNO, deeming it a fundamental undervaluation. DNO must decide by September 4 whether to proceed with the bid. This development occurs while Genel is pursuing a recommended cash bid for Capricorn Energy via Bidco, with shareholder meetings scheduled for August 18.

DNO tabled an unsolicited proposal to buy Genel Energy for GBP 0.69 cash per share. * Genel’s board rejected the approach, calling it a fundamental undervaluation. * DNO must decide by 5 p.m. on Sept. 4 whether to proceed with an offer. * The approach comes as Genel pursues a recommended cash bid, via Bidco, for Capricorn Energy. * Capricorn’s shareholder meetings on the Bidco offer are scheduled for Aug. 18. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Genel Energy plc published the original content used to generate this news brief via EQS News (Ref. ID: UK-Regulatory_2379356_en) on August 07, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)