ADNOC Statement on Recent Media Reports
Abu Dhabi, UAE – November 25, 2024: Abu Dhabi National Oil Company (ADNOC) PJSC (“ADNOC”), the current majority shareholder of 90% of the ordinary shares in ADNOC Gas plc (“ADNOC Gas” or the “Company”) (ADX Symbol: ADNOCGAS / ISIN: AEE01195A234), notes recent media reports about a potential capital market transaction involving ADNOC Gas.
ADNOC continuously explores strategic opportunities to drive further growth, prioritize shareholder value, including in ADNOC Gas, and reiterates its ongoing commitment to enhance the Abu Dhabi equity capital market while generating sustainable returns for investors across its listed portfolio.
ADNOC sees significant value creation potential in ADNOC Gas, which could be further enhanced by broader indexation, driving liquidity and shareholder base diversification. This would require a higher free float at current market capitalization levels. At this time, no decision has been taken about an additional share sale, including the timing or sizing of such a sale.
ADNOC will provide an update as and when appropriate.
ENDS
