Capricorn Energy Allots 845,313 Shares to Employee Benefit Trust, Total Shares Now 71.4 Million

Employee Benefit Trust Share Allotment Boosts Capital Base

Capricorn Energy confirmed that on 23 July 2026, it allotted 845,313 ordinary shares of 799/122 pence each to the trustee of its employee benefit trust. This allotment is part of routine capital management, increasing the number of shares in issue. Employee benefit trusts commonly hold shares on behalf of employees under share schemes, bonus plans, or incentive programs.

Following this transaction, Capricorn Energy's total issued share capital reached 71,403,652 ordinary shares, each carrying equal voting rights of one vote per share. The company holds no treasury shares, meaning all issued shares remain actively circulating. This updated capital structure reflects the definitive share count after the July 2026 allotment and should be used by investors for voting rights and ownership calculations.

Voting Rights and Shareholder Structure

The total voting rights in Capricorn Energy correspond directly to the 71,403,652 ordinary shares issued. This figure represents the voting power available to shareholders during general meetings and is used to determine disclosure obligations under Listing Rules. The one-share-one-vote structure aligns with standard UK-listed equity governance under the City Code.

Capricorn Energy’s International Securities Identification Number (ISIN) is GB00BNKT5L33, enabling precise identification and trading of its shares internationally. The Legal Entity Identifier (LEI) 213800ZJEUQ8ZOC9AL24 uniquely identifies the company for regulatory and financial reporting, ensuring accurate matching across global financial systems and trading platforms.

Regulatory Compliance with Rule 2.9 Disclosures

This announcement complies with Rule 2.9 of the City Code on Takeovers and Mergers, which mandates UK-listed companies to disclose changes in share capital and voting rights. Applicable to securities traded on regulated markets like the London Stock Exchange, this rule promotes transparency and equal access to information affecting control and voting power.

Capricorn Energy’s timely disclosure, made on the trading day following the allotment, demonstrates adherence to regulatory requirements. The announcement is publicly available via the regulatory news service, allowing shareholders to update their records and adjust trading or voting calculations accordingly. This reflects the company’s commitment to transparent capital structure management.

Company Overview and Operational Focus

Capricorn Energy is a cash flow-focused energy producer operating in the Western Desert, a key hydrocarbon-rich region in North Africa. Its portfolio consists of onshore development and production assets, generating revenue primarily from oil and gas extraction rather than exploration or refining. This positions Capricorn Energy as a midstream to cash-generative producer focused on maximising shareholder returns from established reserves and production infrastructure.

The Western Desert is among the world’s most prolific onshore oil and gas regions, featuring large, low-cost reserves and existing facilities. Capricorn Energy’s strategy centres on value extraction from mature assets, emphasising steady cash flow over exploratory risk, consistent with its cash flow-focused business model.

Impact on Capital Structure and Shareholder Equity

The allotment to the employee benefit trust dilutes existing shareholder voting power by approximately 1.2%, based on the 845,313 shares allotted relative to the pre-allotment share base. Shares held in employee benefit trusts typically support approved share schemes and may have voting restrictions depending on trust terms. However, for Rule 2.9 disclosure purposes, all shares held in trust count towards total voting rights since the trustee retains voting power.

The absence of treasury shares indicates Capricorn Energy has not engaged in share buybacks or capital reductions. All issued shares are outstanding and held by investors or employee trusts. This contrasts with companies holding treasury shares for capital flexibility. The current share count represents the full issued equity, with future capital changes to be reported in subsequent Rule 2.9 notifications.

Employee Share Schemes and Incentive Alignment

The share allotment to the employee benefit trust reflects Capricorn Energy’s use of equity-based incentives to align employee and shareholder interests. Employee benefit trusts hold shares for distribution under profit sharing, executive options, or long-term incentive plans, enabling employees to participate in equity appreciation and fostering ownership culture.

The 845,313 shares allotted on 23 July 2026 likely represent a routine tranche for employee schemes rather than a specific strategic event. These arrangements comply with UK tax and employment laws governing approved share schemes.

Governance and Market Transparency Implications

The Rule 2.9 disclosure is a vital governance tool, enabling investors to maintain accurate share counts for earnings per share, voting power, and ownership calculations. Investors tracking substantial holdings or considering positions in Capricorn Energy should use the updated total of 71,403,652 shares. The announcement also provides insight into the pace of employee share scheme deployment and management’s confidence in equity compensation.

This disclosure confirms Capricorn Energy’s commitment to transparent governance and regulatory compliance. The prompt announcement following the allotment meets City Code timing standards. Investors should monitor for future Rule 2.9 updates reflecting any additional share allotments or capital movements.

Trading and Settlement Identifiers: ISIN and LEI

Capricorn Energy shares are identified by ISIN GB00BNKT5L33, a globally recognized 12-character code ensuring accurate trading and settlement across exchanges and custodians. This prevents confusion with other securities and facilitates seamless transaction processing.

The company’s Legal Entity Identifier (LEI) 213800ZJEUQ8ZOC9AL24 uniquely identifies Capricorn Energy for regulatory reporting and market surveillance, distinct from the ISIN which identifies the security. Both identifiers are essential for transparency and accurate regulatory compliance.

Outlook on Share Capital Movements and Investor Guidance

The July 2026 share allotment indicates ongoing deployment of employee share schemes within Capricorn Energy’s remuneration framework. Investors should anticipate further Rule 2.9 disclosures if additional shares are allotted or other capital changes occur. Future buybacks, rights issues, or employee share allocations will also trigger mandatory disclosures, keeping the market informed of voting rights changes.

Investor queries can be directed to Nathan Piper, Commercial Director, with corporate affairs handled by Diana Milford. Media and investor relations support is provided by Camarco, the company’s external communications advisor. For the latest updates on Capricorn Energy’s operations and financials, visit https://www.capricornenergy.com, where regulatory announcements and reports are published.