Cadogan Petroleum Intention to requisition a general meeting

 
TIDMCAD 
 
NOT FOR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA OR ANY 
OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL. 
 
Press 
Release 
                                                    30 September, 2019 
 
This  announcement contains inside information as defined under the Market 
Abuse Regulations  n. 596/2014 
 
                             Cadogan Petroleum Plc 
 
                         ("Cadogan" or the "Company") 
 
        Receipt of notice of intention to requisition a general meeting 
 
Cadogan Petroleum plc ("Cadogan"), an independent, diversified oil & gas 
company listed on the Main Market of the London Stock Exchange, hereby 
announces that it has received a letter from two shareholders indicating that 
they intend to requisition a general meeting in accordance with Section 303 of 
the Companies Act 2006. 
 
The shareholders proposing to requisition the general meeting are controlled by 
Mr Michel Meeus (who is also a current Director of the Company) and SPF Devola 
SA. Together these shareholders hold 43,409,000 shares of the Company, 
representing over five per cent of the total paid up capital of the Company. 
 
The resolutions to be put to the requisitioned general meeting will include 
that each of Messrs Schenato and Testa be removed as Directors of the Company 
and also that three new persons be elected as Directors of the Company. 
 
The Board of the Company recommends that shareholders take no action in respect 
of this announcement at this stage. 
 
In view of the proposed requisition of a general meeting for these purposes, 
the Board has decided to place the process with respect to the recruitment of a 
replacement CEO temporarily on hold. The Board has requested that the incumbent 
CEO consider extending his term past 30 September (being the previously 
announced date that he intended to step down) and is awaiting his answer. 
 
Further announcements will be made in due course. 
 
This Announcement has been issued by, and is the sole responsibility of, the 
Company. 
 
For further information, please contact: 
 
Cadogan Petroleum plc 
 
Guido Michelotti          Chief Executive Officer          [phone] 
 
Ben Harber                Company Secretary                [phone] 
 
Cantor Fitzgerald Europe  Broker to Cadogan Petroleum plc 
 
David Porter                                               [phone] 
                                                           7000 
 
 
 
END 
 

(END) Dow Jones Newswires

September 30, 2019 02:00 ET (06:00 GMT)