Further to the announcement made by the Company and Sintana Energy Inc on 9 October 2025 in relation to the proposed recommended offer by Sintana for the entire issued, and to be issued, ordinary share capital of the Company, the Board of Challenger confirms that it has today, 21 October 2025, filed a Claim Form in the High Court of Justice of the Isle of Man, Civil Division, Chancery Procedure for an Order under Part IV, section 152 of the Isle of Man Companies Act 1931 to convene, on 26 November 2025 at 12:00 p.m., a meeting of the holders of its Ordinary Shares for the purpose of considering and if thought fit approving (with or without modification) a scheme of arrangement proposed to be made between the Company and the holders of its shares in order to give effect to the Offer. Further details regarding the Scheme are set out in the Rule 2.7 Announcement.
If the Court makes an Order that the Court Meeting be convened and if at the Court Meeting a majority in number of the Scheme Shareholders present and voting, either in person or by proxy, representing at least 75 per cent. in value of the shares held by those Scheme Shareholders present and voting agree to the proposed arrangements, the Court may under section 152 of the Isle of Man Companies Act 1931, sanction the proposed Scheme.
A hearing of the Claim is listed for 29 October 2025 at 10:30 a.m.. The Convening Hearing is to be held at The Isle of Man Courts of Justice Deemsters Walk, Bucks Road, Douglas, IM1 3AR. Scheme Shareholders are entitled to attend or be represented at both the Convening Hearing and the hearing of the Court at which the Company will seek an order sanctioning the Scheme, which is expected to be held on 9 December 2025 at 10:30a.m.
Subject to the Order being granted, a scheme document in relation to the proposed Scheme will be published in due course and a further announcement will be made at that time.
