17th Dec 2007 14:02
Lansdowne Oil & Gas plc17 December 2007 17 December 2007 Lansdowne Oil & Gas plc ("Lansdowne" or the "Company") Results of general meeting At the general meeting of the Company held earlier today all resolutions wereduly passed, including a waiver of Rule 9 of the City Code on Takeovers andMergers, which was passed unanimously on a poll. As announced on 29 November 2007, Lansdowne has entered into a conditionalagreement to acquire the entire issued share capital of Milesian Oil & GasLimited for an initial consideration to be satisfied by the issue of 8,921,118new ordinary shares in the Company, representing 30.0 per cent. of the enlargedissued share capital of the Company following admission of such shares totrading on AIM. Further deferred consideration to be satisfied by the issue ofup to 8,110,099 new ordinary shares may be payable dependent upon the results ofa 2D seismic programme over Milesian's Celtic Sea acreage. The passing of theresolutions at today's general meeting represents satisfaction of thepenultimate condition of the acquisition, with the only remaining unsatisfiedcondition being the admission of the said 8,921,118 new ordinary shares. Trading in the said 8,921,118 new ordinary shares is expected to commence on 18December 2007, at which point completion of Lansdowne's acquisition of Milesianwill be effected. Following admission, the Company will have in issue 29,737,071 voting ordinaryshares of 5p each. In addition, Lansdowne is pleased to confirm the appointment of Emmet KevinBrown as director of business development and the appointments of ThomasAnderson and Richard Edward Pollock as non-executive directors of the Companywith immediate effect. Mr Brown, aged 57, is currently a director of Milesian Oil & Gas Limited. As aresult of the acquisition of Milesian, Mr Brown will hold an interest of2,951,102 ordinary shares in Lansdowne, equivalent to 9.92 per cent. of theenlarged issued share capital of Lansdowne following completion of theacquisition. Mr Anderson, aged 62, is currently a director Inchicore Cinema Limited, GalwayCinemas Limited, Savoy Cinema (Sligo) Limited, Grokenda Holdings 1 Limited,Grokenda Holdings 2 Limited, Grokenda Properties Limited, Grokenda RestaurantsLimited, Milesian Oil & Gas Limited, Tellhill Limited, Touchmann Limited, MayfoxLimited, Circle Oil Public Limited Company, Mansard Limited, Cinema TelevisionLimited, The Stella Picture Theatre Limited, Milesian Oil Limited, ReservoirInvestments Limited and Derrickbawn Court Management Limited. In the previousfive years, Mr Anderson has also been a director of Roundwood Christmas TreesLimited and Fernmere Investments Limited. As a result of the acquisition of Milesian, Mr Anderson will hold an interest of3,443,390 ordinary shares in Lansdowne, equivalent to 11.58 per cent. of theenlarged issued share capital of Lansdowne following completion of theacquisition. Mr Pollock, aged 59, is currently a director of Milesian Oil & Gas Limited and,in the last five years, has previously been a director of Miltiades Limited andCLAM Petroleum B.V. As a result of the acquisition of Milesian, Mr Pollock willhold an interest of 80,852 ordinary shares in Lansdowne, equivalent to 0.27 percent. of the enlarged issued share capital of Lansdowne following completion ofthe acquisition. Mr Brown, Mr Anderson and Mr Pollock have confirmed that there is no further information required to be disclosed under paragraph 17 of the AIM Rules. Enquiries:Lansdowne Oil & Gas plcSteve Boldy, Chief Executive Tel: 01224 748480 John East & Partners LimitedDavid Worlidge /Bidhi Bhoma Tel: 020 7628 2200 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Lansdowne Oil