28th Sep 2012 12:17
28 September, 2012
President Petroleum Company PLC
("President" or the "Company")
Result of General Meeting
Change of Name
President Petroleum Company PLC (AIM:PPC) is pleased to announce that the resolutions put to shareholders at the Company's General Meeting held earlier today have been approved. Details of the results of each resolution are shown below.
Accordingly, President is pleased to confirm its change of name to President Energy PLC and that the only condition remaining of its conditional placing and open offer, announced on 12 September 2012, is the admission to trading of these new shares. The Company's ticker of PPC will remain the same.
Application has been made for the admission of these shares relating to the conditional placing shares and open offer shares to trading on AIM, which is expected to commence at 8.00 a.m. on 1 October 2012.
Results of General Meeting
Resolution Number | Details of Resolution | Percentage of votes received in favour of the resolution |
1 | To authorise the Directors to allot shares or grant rights to subscribe for or convert securities into shares up to an aggregate nominal amount of £1,545,985.41 in connection with the Fundraising | 99.81% |
2 | To dis-apply statutory pre-emption rights in respect of the allotment of shares for cash up to an aggregate nominal amount of £1,545,985.41 in connection with the Fundraising | 99.81% |
3 | To approve the Change of Name | 99.81% |
4 | To authorise the Directors generally to allot shares or grant rights to subscribe for or convert securities into shares up to an aggregate nominal amount of £849,481.79 | 99.81% |
5 | To dis-apply statutory pre-emption rights in respect of the allotment of shares for cash up to an aggregate nominal amount of £566,321.19 | 93.71% |
For further information contact:
PPC Petroleum Company
John Hamilton, Director +44 (0) 207 811 0140
Ben Wilkinson, Finance Director +44 (0) 207 811 0140
RBC Capital Markets
Jeremy Low, Matthew Coakes, Daniel Conti +44 (0) 207 653 4000
Jefferies Hoare Govett
Simon Hardy, Max Jones +44 (0) 207 029 8316
Pelham Bell Pottinger +44 (0) 207 861 3232
James Henderson, Mark Antelme
Related Shares:
PPC.L