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(Sharecast News) - Deltic Energy reported a narrower full-year loss on Friday, as shareholders backed its proposed takeover by Neo Next+.
The AIM-traded company said its loss for 2025 narrowed to 2.1m from 21.2m, after the prior year included an 18.0m impairment related to Pensacola.
Administrative expenses fell to 1.9m from 2.9m, while cash at year-end rose to 1.6m from 1.4m after Deltic drew down a 2.7m term loan from Viaro Bidco.
Deltic said shareholders voted "overwhelmingly" on 24 June in favour of Neo Next+ acquiring the company, with completion expected in the coming months subject to NSTA approval.
Chairman Mark Lappin and chief executive Andrew Nunn said they looked forward to seeing Neo Next+ "advance the Selene discovery and Deltic's other assets towards production".
At 1231 BST, shares in Deltic Energy were down 7.14% at 6.5p.
Reporting by Josh White for Sharecast.com.
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