Magnolia Petroleum Plc Withdrawal of Requisition for General Meeting

 
TIDMMAGP 
 
Magnolia Petroleum Plc / Index: AIM / Epic: MAGP / Sector: Oil & Gas 
 
14 July 2017 
 
             Magnolia Petroleum Plc ('Magnolia' or 'the Company') 
 
                 Withdrawal of Requisition for General Meeting 
 
Magnolia Petroleum Plc, the AIM quoted US focused oil and gas exploration and 
production company, announces that the requisition for the general meeting (the 
"General Meeting") has been withdrawn by Mr Steven Snead, Snead Family 2012 
LLC, Snead Family LLC and Mr R Sterling Snead (together the "Snead Group"). 
 
The board of Magnolia advises that proxies received as at noon on 13 July 2017 
("Received Proxies") for the three resolutions recorded a minimum vote in 
support of the Company (voting against the proposed resolutions) of 98.78 per 
cent. of the Received Proxies with over 1,127,300,000 shares having been voted 
for each of the resolutions by that point. The Received Proxies appear 
consistent with the results of the AGM held on 12 July 2017, however, it should 
be noted that the final proxy count would likely be subject to change as a 
proxy had not been received from the Snead Group, the proxy deadline had not 
expired and qualifying shareholders could have cast votes at the General 
Meeting. The deadline for the submission of proxy votes for qualifying 
shareholders was 15:30 on Friday 14 July 2017. 
 
The Company is aware that shareholders may have already made plans to attend 
the General Meeting.  Accordingly, the Company would like to use the 
opportunity of the General Meeting to thank shareholders for their support and 
also provide an update on progress being made and the new strategic 
relationship with Western Energy Development LLC.  The update will take place 
instead of the General Meeting at 15:30 p.m. (BST) on 18 July 2017 at the 
offices of Hill Dickinson LLP on the 8th Floor of The Broadgate Tower, 20 
Primrose Street, London, EC2A 2EW. 
 
For further information on the background to the General Meeting please refer 
to the Company's announcement of 20 June 2017. 
 
                                 * * ENDS * * 
 
For further information on Magnolia Petroleum Plc visit 
www.magnoliapetroleum.com or contact the following: 
 
Rita Whittington          Magnolia Petroleum Plc              +01918449 8750 
 
Jo Turner / James Caithie Cairn Financial Advisers LLP        [phone] 
 
Colin Rowbury             Cornhill Capital Limited            [phone] 
 
Lottie Brocklehurst       St Brides Partners Ltd              [phone] 
 
Frank Buhagiar            St Brides Partners Ltd              [phone] 
 
 
 
END 
 

(END) Dow Jones Newswires

July 14, 2017 02:00 ET (06:00 GMT)