Exillon Energy Plc EGM Result (3694A)
March 19 2013 - 10:29AM
UK Regulatory
TIDMEXI
RNS Number : 3694A
Exillon Energy Plc
19 March 2013
Exillon Energy plc
EGM Result
99.86% of all votes received rejected Worldview's proposals
19 March 2013
19 March 2013 - Further to the announcement on 13 March 2013,
Exillon Energy plc"Exillon" (EXI.LN), a London Premium listed
independent oil producer with assets in two oil-rich regions of
northern Russia, Timan-Pechora and West Siberia, adjourned the
extraordinary general meeting of shareholders convened today,
following the withdrawal of the requisition by Worldview Capital
Management ("Worldview"), the manager of a Cayman-registered fund
which beneficially owns a stake in Exillon.
The Chairman, with the approval of shareholders, adjourned the
meeting indefinitely following the withdrawal of the requisition by
Worldview. The Board notes the overwhelming rejection by
shareholders of all of Worldview's proposals. Proxy votes have been
received in respect of over 116 million shares (of a total of 165
million), of which 99.86% have voted against Worldview's
proposals.
Exillon Energy CEO Mark Martin said:
"Worldview made false and misleading statements about us through
the media, our share price fell 10% and they took advantage of this
fall in share price to increase their stake. It certainly looked
and smelled like a bear raid."
"The strong appearance of impropriety should not be tolerated
within the well regulated London market. We have reported Worldview
to the regulator in both the UK and in Poland over this suspicious
sequence of events, and we have been urged by shareholders to
consider further steps to recover damages from Worldview for the
disruption to our business resulting from their spurious
allegations."
Enquiries:
Edmond de Rothschild +44 20 7845 5900
William Marle
John Armstrong-Denby
M: Communications +44 207 920 2330
Tom Blackwell blackwell@mcomgroup.com
Chris McMahon mcmahon@mcomgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
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