24th Feb 2014 11:54
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.
This announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any decision in respect of President Energy PLC or other evaluation of any securities of President Energy PLC or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.
President Energy PLC
("President" or the "Company")
Result of General Meeting
President Energy PLC (AIM:PPC) is pleased to announce that all of 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 that the only condition remaining of its Placing and Open Offer, as announced on 5th February 2014, is the Admission to trading on AIM of the 89,031,876 New Ordinary Shares that are the subject of the Placing and Open Offer, which is expected to commence at 8.00 a.m. on 25th February 2014.
Peter Levine, Chairman of President said:
"With the placing successfully completed we now look forward to the 2014 drilling campaign."
Results of General Meeting
Resolution Number | Details of Resolution | Percentage of votes received in favour of the resolution |
1. | To authorise the Company to allot shares or grant rights to subscribe for or convert securities into shares up to an aggregate nominal amount of £994,188.80 in connection with the Placing and Open Offer |
99.97% |
2. | To dis-apply statutory pre-emption rights in respect of the allotment of shares for cash up to an aggregate nominal amount of £994,188.80 in connection with the Placing and Open Offer |
99.97% |
3. | To authorise the Company to allot shares or grant rights to subscribe for or convert securities into shares generally up to an aggregate nominal amount of £1,353,229. |
99.97% |
4. | To dis-apply statutory pre-emption rights generally in respect of the allotment of shares for cash up to an aggregate nominal amount of £405,968.77 |
99.97% |
For further information contact:
President Energy PLC
John Hamilton, CEO +44 (0) 207 016 7950
Ben Wilkinson, Finance Director +44 (0) 207 016 7950
RBC Capital Markets
Jeremy Low, Matthew Coakes, Daniel Conti +44 (0) 207 653 4000
Canaccord Genuity Limited
Tim Redfern, Henry Fitzgerald-O'Connor +44 (0) 207 523 8000
Bell Pottinger +44 (0) 207 861 3232
Gavin Davis, Henry Lerwill
Related Shares:
PPC.L