21st Apr 2016 09:24
LONDON (Alliance News) - Prospex Oil & Gas PLC on Thursday said it will seek an amendment to its investment policy at its upcoming annual general meeting.
Prospex said it will seek the addition of a new paragraph in its investing policy stating the business will undertake an acquisition in the natural resources or energy sector constituting a reverse takeover under AIM rules within 12 months of the meeting taking place.
Prospex said it thinks the amendment will result in an increase in shareholder value.
Shareholders will be asked to vote on the proposal at the company's annual general meeting on May 11.
Shares in Prospex were up 8.6% to 1.90 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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