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PTR Petroneft Resources Plc

0.085
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Petroneft Resources Plc LSE:PTR London Ordinary Share IE00B0Q82B24 ORD EUR0.01 (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.085 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Petroneft Resources PLC Restriction Notice Update (4654V)

18/04/2016 8:26am

UK Regulatory


Petroneft Resources (LSE:PTR)
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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)

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