2nd Dec 2015 15:19
LONDON (Alliance News) - JKX Oil & Gas PLC said Wednesday that two resolutions at its annual general meeting held in June were not passed as a result of a Supreme Court judgement, which means votes cast by Eclairs Group Ltd and Glengary Overseas Ltd since May 2013 do count.
The resolutions were in regards to approving the director's remuneration report, and authorising the company to make market purchase of its own shares.
JKX said it will consider the implications of this judgement, and will "continue to take all appropriate steps to protect and promote JKX's best interests."
The Supreme Court allowed an appeal by Eclairs Group and Glengary Overseas and their nominees against a Court of Appeal judgement that voting restrictions placed on them by JKX were valid.
Shares in JKX were down 0.9% at 27/75 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
JKX.L