3rd Dec 2015 13:55
Northern Petroleum Plc
("Northern Petroleum" or "the Company")
Result of General Meeting and Timetable Update
Northern Petroleum (AIM: NOP) announces that at its General Meeting held earlier today, all resolutions put to shareholders were duly passed.
Further to the announcements made by the Company on 12 November and 16 November 2015, application has been made for the 40,000,000 new ordinary shares the subject of the Subscription ("Subscription Shares") to be admitted to trading on AIM and it is expected that this will take place on 8 December 2015.
Following the issue of the Subscription Shares, Northern will have 135,365,660 ordinary shares of 1p each in issue, which will also represent the total number of voting rights in the Company. This figure should 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 FCA's Disclosure and Transparency Rules.
It is expected that the results of the Open Offer will be announced by the Company on 7 December 2015.
The completion of the Rainbow Asset acquisition is expected to occur next week at which point the Company will provide a full update on operations.
The Company also announces that the Record Date for the Capital Reorganisation has been moved to 7 December 2015. The revised timetable is shown below:
Latest time and date for receipt of applications by Qualifying Ordinary Shareholders and Qualifying CREST Holders under the Open Offer
| 11:00 a.m. on 4 December 2015 |
Announcement of the Results of the Open Offer | 7 December 2015 |
Capital Reorganisation Record Date & Time | 5:00 p.m. on 7 December 2015 |
Admission and commencement of dealings in the Subscription Shares | 8:00 a.m. on 8 December 2015 |
Admission and commencement of dealings in the Open Offer Shares | 8:00 a.m. on 10 December 2015 |
Expected date for crediting of the Open Offer Shares issued to CREST stock accounts in uncertificated form | 10 December 2015 |
Expected date for dispatch of definitive share certificates (where applicable) | by 21 December 2015 |
The dates and times set out above are based on the Company's current expectations and may be subject to change. References to times in this document are to London times, unless otherwise stated.
-Ends-
For further information please contact:
Northern Petroleum Plc Tel: +44 (0)20 7469 2900
Keith Bush, Chief Executive Officer
Nick Morgan, Finance Director
Westhouse Securities Limited (Nomad and Joint Broker) Tel: +44 (0)20 7601 6100
Alastair Stratton
Robert Finlay
FirstEnergy Capital LLP (Joint Broker) Tel: +44 (0)20 7448 0200
Jonathan Wright
Note to Editors:
Northern Petroleum is an oil and gas company focused on production led growth. The Company is undertaking a redevelopment and production project in north west Alberta and has a broader portfolio of exploration and appraisal opportunities in countries of relatively low political risk, primarily Italy. Comprehensive information on Northern Petroleum and its oil and gas operations, including press releases, annual reports and interim reports are available from Northern Petroleum's website: www.northernpetroleum.com
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