9th Jun 2015 05:33
LONDON (Alliance News) - New World Oil and Gas PLC Monday said it is still expecting to proceed with an open offer and placing, subject to clawback under the open offer.
The statement was made late on Monday, just after the company said it had received a document notifying it that a group of shareholders led by Mathew Benjamin Turney, who is known for writing for website shareprophets.com.
According to the notification from the shareholders, Turney and other shareholders control 5.91% of the voting rights in New World Oil & Gas.
"The concerted action to be undertaken by this group is the recruitment of additional members in order to cross the 10% threshold. Thereafter to requisition a meeting to propose a change of direction for the company," the document said
New World Oil & Gas said: In light of recent uncertainty regarding, and the continuing suspension of, trading in the company's shares, the board will be monitoring its shareholder register with a view to seeking to confirm if the persons named in this notification appear on that register, and may make a further announcement in due course."
New World Oil & Gas also issued a "cautionary statement".
"Given the continuance of commentary on unauthorised and unregulated websites, investors and shareholders are warned to exercise caution in dealing in the company's shares and if in any doubt seek the advice of a person duly authorised and regulated by the Financial Conduct Authority," the company said.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
New World Oil And Gas