ECG Econergy Intl

    RNS Number : 7800W
  Suez Energy South America
  16 June 2008
   

    16 June 2008

    Suez Energy South America Participaes Ltda. ("SESA")
    Rule 8.4 Announcement
    On 13 June 2008, SESA announced a cash offer for the entire issued and to be issued share capital of Econergy International plc
("Econergy") (the "Offer").

    On 13 June 2008, SESA received irrevocable undertakings to accept the Offer in respect of: 

    (i)    4,650,765 Econergy shares, representing approximately 5.35 per cent. of the existing issued share capital of Econergy from MPC
Investors Ltd (of which 4,375,000 shares are registered in the name of MPC Pilgrim Fund and 275,765 shares are registered in the name of Dbx
European No 3 Fund);

    (ii)    3,343,560 Econergy shares, representing approximately 3.84 per cent. of the existing issued share capital of Econergy from OZ
Master Fund, Ltd (which are registered in the name of Morstan Nominees Limited);

    (iii)    2,503,240 Econergy shares, representing approximately 2.88 per cent. of the existing issued share capital of Econergy from OZ
Europe Master Fund, Ltd. (which are registered in the name of Morstan Nominees Limited);

    (iv)    70,920 Econergy shares, representing approximately 0.08 per cent. of the existing issued share capital of Econergy from Gordel
Holdings Limited (which are registered in the name of Morstan Nominees Limited); and

    (v)    37,410 Econergy shares, representing approximately 0.04 per cent. of the existing issued share capital of Econergy from GPC LVII,
LLC (which are registered in the name of Morstan Nominees Limited).

    These irrevocable undertakings will cease to be binding if (i) on or before the tenth day following the posting of the offer document
(or the document containing the scheme of arrangement, as the case may be), a competing offer is made for Econergy which is 10 per cent.
higher than the Offer, (ii) the Offer lapses or is withdrawn or (iii) the Offer is not declared unconditional in all respects in accordance
with its terms by 30 March 2009.

    SESA has therefore received irrevocable undertakings to accept the Offer in respect of, in aggregate, 22,616,822 Econergy shares,
representing 26.00 per cent. of Econergy's issued share capital.

    END


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