17th Oct 2006 09:26
Global Petroleum Ltd17 October 2006 Global Petroleum Ltd 17 October 2006 WAIVER OF ASX LISTING RULE 10.13.3 Global Petroleum announces that on 12 October 2006, the ASX granted the Companya waiver from Listing Rule 10.13.3 in connection with Resolution 3 in the 2006Notice of Annual General Meeting being despatched to shareholders tomorrow,Wednesday 18 October. The terms of the waiver granted by the ASX are set out as follows. 1. Based solely on the information provided, ASX has granted the waiver fromListing Rule 10.13.3 to the extent necessary to permit the Company's Notice ofMeeting seeking shareholder approval of the issue of a total of 2,859,929 fullypaid ordinary shares to Peter Blakey, Peter Taylor and TM Services Ltd (the"Shares") in accordance with an agreement for the acquisition of all the issuedcapital of Astral Petroleum Limited to state that the Shares may be issued nolater than 30 June 2008, subject to the satisfaction of the following: 1.1. The shares will be issued on the basis that RWE Dea AG commits to drill awell in accordance with the terms of the farmout agreement entered into with theCompany on 22 June 2006. 2. The waiver in resolution 1 above was granted on the following conditions: 2.1 The Company releases the terms of the waiver to the market at the time ofthe release of the Notice of Meeting to approve the issue. 2.2 The Company undertakes to include in each Annual Report during the period inwhich the shares may be issued pursuant to the waiver granted, details of theshares and the performance hurdles which are to be met prior its issue. Theundertaking is to be given and executed as a deed. 3. ASX has considered listing rule 10.13.3 only and makes no statement as to theCompany's compliance with other listing rules. For more information regarding the approvals being sought, please read theNotice of Meeting and Explanatory Memorandum released to the market anddespatched to shareholders. Further information Global PetroleumJohn Armstrong - Executive Chairman +61 (0) 7 3211 1122 Bell Pottinger Corporate & FinancialNick Lambert +44 (0) 20 7861 3232 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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