Petroneft Resources PLC Restriction Notice Update (4654V)
April 18 2016 - 3:26AM
UK Regulatory
TIDMPTR
RNS Number : 4654V
Petroneft Resources PLC
18 April 2016
PetroNeft Resources plc ('PetroNeft' or 'the Company')
Restriction Notice Update
EGM Requisition
Restriction Notice Update
Based on information provided to the Company by General Invest
Overseas SA ("General Invest"), the restriction notice issued by
the Company to General Invest on 1 April 2016 was cancelled on 15
April 2016.
EGM Requisition by General Invest
Also on 15 April 2016 the Company received a proposal from
General Invest, a 10.7% shareholder in PetroNeft, to call an
Extraordinary General Meeting ("EGM") of the Company.
The EGM is being sought to consider resolutions in relation to
the removal of five of the six current Board members (David Golder,
Dennis Francis, Paul Dowling, David Sanders and Gerard Fagan) and
to appoint David Sturt and Antonio Pititto to the Board as
directors of the Company.
David Sturt has previously been nominated as a director by
another shareholder, Natlata Partners Limited. General Invest has
provided no biographical or other details in relation to Mr.
Pititto or explanation of how the Company would be managed should
the resolutions be successful.
Should an EGM be required under the Company's Articles of
Association, notification of an EGM, together with the
recommendation of the Board, will be posted to shareholders in due
course.
For further information, contact:
Dennis Francis, CEO, PetroNeft Resources +353 1 647
plc 0280
Paul Dowling, CFO, PetroNeft Resources +353 1 647
plc 0280
John Frain/Brian Garrahy, Davy (NOMAD +353 1 679
and Joint Broker) 6363
Henry Fitzgerald-O'Connor, Canaccord +44 207
Genuity Limited (Joint Broker) 523 8000
Martin Jackson/Shabnam Bashir, Citigate +44 207
Dewe Rogerson 638 9571
Joe Heron / Douglas Keatinge, Murray +353 1 498
Consultants 0300
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLIFFDSIITLIR
(END) Dow Jones Newswires
April 18, 2016 03:26 ET (07:26 GMT)
Petroneft Resources (LSE:PTR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Petroneft Resources (LSE:PTR)
Historical Stock Chart
From Apr 2023 to Apr 2024