Petroceltic International PLC Results of EGMs (3378Y)

TIDMPCI

RNS Number : 3378Y

Petroceltic International PLC

07 September 2015

Dublin

7 September 2015

Petroceltic International plc

Results of Extraordinary General Meetings

Petroceltic International plc ("Petroceltic" or the "Company"), the oil and gas exploration, development and production company announces the results of the resolutions proposed at the two Extraordinary General Meetings held earlier today as follows:

The first September EGM Resolutions 1 and 2 were special resolutions requiring 75% of votes to pass; the Board recommended that shareholders vote for these resolutions. The second September EGM resolution 1 was an ordinary resolution proposed on behalf of Worldview Capital Management SA; the board recommended that shareholders vote against the resolution. The EGMs were not attended by Worldview or its representatives.

The results were as follows:

 
                              VOTES        %       %       VOTES        %       %        VOTES       % of      VOTES 
                                FOR               ISC      AGAINST             ISC       TOTAL        ISC     WITHHELD 
                                                                                                     VOTED 
-------------------------  -----------  ------  ------  -----------  ------  ------  ------------  -------  ---------- 
 First EGM Res 1- 
  To amend the Memorandum 
  of Association 
  of the Company.           90,353,255   58.58   42.20   63,873,137   41.42   29.84   154,226,392   72.04%     1,693 
-------------------------  -----------  ------  ------  -----------  ------  ------  ------------  -------  ---------- 
 First EGM Res 2- 
  To adopt revised 
  Articles of Association 
  of the Company, 
  including to limit 
  existing borrowing 
  powers delegated 
  to Directors.             90,130,466   58.44   42.10   64,093,487   41.56   29.94   154,223,953   72.04%     3,967 
-------------------------  -----------  ------  ------  -----------  ------  ------  ------------  -------  ---------- 
 Second EGM Res 
  1- To not approve 
  of any sale or 
  disposal of any 
  assets by the Company 
  or any of its 
  subsidiaries, 
  where such assets 
  would represent 
  25% or more of 
  the Company's revenues, 
  profits or reserves 
  unless the prior 
  approval of the 
  Company's members 
  in a general meeting 
  is first obtained.        64,328,098   41.83   30.04   89,440,108   58.17   41.78   153,768,206   71.82%   6,802,834 
-------------------------  -----------  ------  ------  -----------  ------  ------  ------------  -------  ----------

In summary, none of the resolutions proposed were passed.

Ends

For further information, please contact:

   Brian O' Cathain /Tom Hickey, Petroceltic International        Tel: +353 (1) 421 8300 
   Alasdair Robinson, Company Secretary                                Tel: +44 131 221 3360 
   James Henderson / Rollo Crichton-Stuart, Bell Pottinger      Tel: +44 (20) 3772 2500 
   Douglas Keatinge / Joe Heron, Murray Consultants              Tel: +353 (1) 498 0300 
   John Frain / Roland French, Davy                                          Tel: +353 (1) 679 6363

Notes to Editors:

Petroceltic International plc is a leading Oil and Gas Exploration and Production Company focused on North Africa, the Mediterranean and Black Sea regions, and listed on the London Stock Exchange's AIM Market and the Irish Stock Exchange's ESM Market. The Company has production, exploration and development assets in Algeria, Egypt, Bulgaria and Italy.

Unless the context otherwise requires, defined terms used in this announcement shall have the meanings given to them in the circulars to shareholders of the Company dated 4 August 2015 and 13 August 2015, a copy of which is available on the Company's website at www.petroceltic.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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