Due to technical issues, the Customer Support line is currently unavailable. Please use the live chat or email communication.

Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Diversified Gas LSE:DGOC London Ordinary Share GB00BYX7JT74 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 121.50p 121.00p 122.00p 122.00p 120.50p 122.00p 155,356 13:43:43
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 227.2 205.3 40.8 3.0 843.42

Diversified Gas & Oil PLC Result of AGM and General Meeting

17/04/2019 1:34pm

UK Regulatory (RNS & others)


Diversified Gas (LSE:DGOC)
Historical Stock Chart

1 Month : From Mar 2019 to Apr 2019

Click Here for more Diversified Gas Charts.

TIDMDGOC

RNS Number : 5216W

Diversified Gas & Oil PLC

17 April 2019

17 April 2019

Diversified Gas & Oil PLC

("DGO" or the "Company")

Result of Annual General Meeting and General Meeting

Proposed Acquisition of certain gas assets from HG Energy II Appalachia, LLC

Admission of Placing Shares to trading on AIM

Diversified Gas & Oil PLC (AIM: DGOC), a US based owner and operator of natural gas, natural gas liquids and oil wells as well as midstream assets, is pleased to announce that all resolutions put to shareholders at both the Company's Annual General Meeting and General Meeting held earlier today were duly passed.

Result of Annual General Meeting

The total votes were cast as follows:

 
 Resolution       For         %        Against        %      Withheld 
     1        321,865,868   89.00     39,795,858    11.00   48,705,837 
             ------------  -------  -------------  ------  ----------- 
     2        410,367,563   100.00        -           -         - 
             ------------  -------  -------------  ------  ----------- 
     3        410,367,563   100.00        -           -         - 
             ------------  -------  -------------  ------  ----------- 
     4        251,334,048   70.69     104,200,596   29.31   54,832,919 
             ------------  -------  -------------  ------  ----------- 
     5        390,411,766   95.14     19,955,797    4.86        - 
             ------------  -------  -------------  ------  ----------- 
     6        308,861,181   75.87     98,206,207    24.13   3,300,175 
             ------------  -------  -------------  ------  ----------- 
     7        410,367,563   100.00        -           -         - 
             ------------  -------  -------------  ------  ----------- 
 

Note: A vote "Withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" and "Against" shown.

Result of General Meeting

The total votes were cast as follows:

 
 Resolution       For         %     Against    %     Withheld 
     1        377,952,119   99.80   750,000   0.20      - 
             ------------  ------  --------  -----  --------- 
     2        377,949,119   99.80   751,700   0.20    1,000 
             ------------  ------  --------  -----  --------- 
 

The Acquisition

As detailed in the announcement dated 27 March 2019, DGO Corp, a wholly-owned subsidiary of the Company, has entered into a conditional sale and purchase agreement with HG Energy to acquire certain gas leaseholds, wells, working interests, licenses, related equipment and other assets. The net proceeds of the Placing, together with a drawdown from the Company's Existing KeyBank Facility, are intended to be applied towards the Acquisition for a total cash consideration of approximately $400 million.

The Company currently has 1P PDP Reserves of 474 MMboe and daily net production of approximately 70 Mboe. The Acquisition will increase proved developed producing reserves by approximately 92 MMboe to 566 MMboe. Following Completion, the Company will produce approximately 91 mboed (net), making the Company a material producer amongst its small-mid cap peer group and the largest gas and oil producer on AIM.

Completion of the Acquisition is expected to occur tomorrow and a further announcement will be made as soon as possible. The Placing is not conditional upon completion of the Acquisition.

Total Voting Rights

Following approval by Shareholders, the Placing Shares have been issued and allotted and dealings in the Placing Shares are expected to commence on AIM at 8.00 am on 18 April 2019 ("Admission").

Following Admission, the Company's issued share capital will comprise 694,169,088 Ordinary Shares. No Ordinary Shares are held in treasury. The figure of 694,169,088 Ordinary Shares may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Unless otherwise stated, defined terms used in this announcement have the same meaning as set out in the Company's circular dated 28 March 2019 available on the Company's website at www.dgoc.com.

For further information contact:

 
 Diversified Gas & Oil PLC 
  Rusty Hutson Jr., Chief Executive Officer 
  Brad Gray, Chief Operating Officer and 
  Finance Director 
  Eric Williams, Chief Financial Officer 
  www.dgoc.com                                 + 1 (205) 408 0909     + 1 (205) 408 0909 
 Cenkos Securities plc 
  (Nominated Adviser) 
  Russell Cook 
  Katy Birkin 
  Ben Jeynes                                   +44 (0)20 7397 8900    +44 20 7131 4000 
 Mirabaud Securities Limited 
  (Joint Broker) 
  Peter Krens 
  Edward Haig-Thomas                           +44 (0)20 3167 7221    +44 20 3167 7222 
 Stifel Nicolaus Europe Limited 
  (Joint Broker) 
  Callum Stewart 
  Nicholas Rhodes 
  Ashton Clanfield                             +44 (0)20 7710 7600    +44 20 7710 7600 
 Stifel Nicolaus & Company, Incorporated 
  (US Financial Adviser) 
  Sameer Parasnis 
  Chris Gibson                                 +1 (713) 237 4516      +44 20 7466 5000 
 Buchanan 
  (Financial Public Relations) 
  Ben Romney 
  Chris Judd 
  James Husband 
  dgo@buchanan.uk.com                           +44 (0)20 7466 5000 
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCSFFFEWFUSEDL

(END) Dow Jones Newswires

April 17, 2019 08:34 ET (12:34 GMT)

1 Year Diversified Gas Chart

1 Year Diversified Gas Chart

1 Month Diversified Gas Chart

1 Month Diversified Gas Chart
Your Recent History
LSE
DGOC
Diversifie..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20190424 12:59:32