SINGAPORE and PORT MORESBY, Papua New Guinea, April 1, 2016 /PRNewswire/ -- InterOil
Corporation (NYSE: IOC) (POMSoX: IOC) today confirmed that it has
received a requisition submitted by a shareholder group, including
Mr. Mulacek (collectively, the "Mulacek Group") requesting a
special meeting of InterOil shareholders to consider several
proposed resolutions.
The Board of Directors is reviewing the requisition and
accompanying proposals and will respond in due course. Shareholders
are not required to take any action at this time.
InterOil issued the following statement:
InterOil welcomes communications with its shareholders and
values input toward the goal of enhancing shareholder value. The
members of the Board of Directors and management team have had
extensive interactions with our shareholders, including Mr.
Mulacek, over the last year. The Board of Directors will review the
Mulacek Group's requisition and accompanying proposals within the
required timeframe and will take actions that it believes are in
the best interest of InterOil and all of its shareholders.
InterOil appreciates the role Mr. Mulacek played as founder of
InterOil and his contributions during his tenure. The Board will
seek to engage with Mr. Mulacek constructively, consistent with the
Board's obligations to all shareholders.
InterOil continues to make significant progress on the Papua LNG
project while taking steps to streamline its operations and
increase operating efficiency. We remain confident in our strategic
plan and believe its implementation over time will achieve enhanced
value for all shareholders.
About InterOil
InterOil Corporation is an independent oil and gas business with
a sole focus on Papua New Guinea.
InterOil's assets include one of Asia's largest undeveloped gas fields,
Elk-Antelope, in the Gulf Province, and exploration licenses
covering about 16,000sqkm. Its main offices are in Singapore and Port
Moresby. InterOil is listed on the New York and Port
Moresby stock exchanges.
Investor Contacts
Singapore
|
Singapore
|
North
America
|
Michael
Lynn
Senior Vice
President
Investor
Relations
|
David Wu
Vice
President
Investor
Relations
|
Cynthia
Black
Investor
Relations
North
America
|
T: +65 6507
0222
E:
michael.lynn@interoil.com
|
T: +65 6507
0222
E:
david.wu@interoil.com
|
T: +1 212 653
9778
E:
cynthia.black@interoil.com
|
Media Contacts
Singapore
|
United
States
|
Ann Lee
Communications
Specialist
|
James Golden / Aaron
Palash
Joele Frank,
Wilkinson Brimmer
Katcher
|
T: +65 6507
0222
E:
ann.lee@interoil.com
|
T: +1 212 355
4449
E:
ioc-jf@joelefrank.com
|
Forward Looking Statements
This media release includes "forward-looking statements" as
defined in United States federal
and Canadian securities laws. All statements, other than statements
of historical facts, included in this release that address
activities, events or developments that InterOil expects, believes
or anticipates will or may occur in the future are forward-looking
statements. These statements are based on our current beliefs as
well as assumptions made by, and information currently available to
the company. No assurances can be given however, that these events
will occur. Actual results could differ, and the difference may be
material and adverse to the company and its shareholders. Such
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the company,
which may cause our actual results to differ materially from those
implied or expressed by the forward-looking statements. Some of
these factors include the risk factors discussed in the company's
filings with the United States Securities and Exchange Commission
and on SEDAR, including but not limited to those in the company's
annual report for the year ended December
31, 2015 on Form 40-F and its Annual Information Form for
the year ended December 31, 2015. In
particular, there is no established market for natural gas or gas
condensate in Papua New Guinea and
no guarantee that gas or gas condensate will ultimately be able to
be extracted and sold commercially. All forward-looking statements
are made as of the date of this press release and the fact that
this press release remains available does not constitute a
representation by InterOil that InterOIl believes these
forward-looking statements continue to be true as of any subsequent
date. Actual results may vary materially from the expected results
expressed in forward-looking statements. InterOil disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable securities
laws. InterOil's forward-looking statements are expressly qualified
in their entirety by this cautionary statement.
Investors are urged to consider closely the disclosure in the
company's Form 40-F, available from the company at www.interoil.com
or from the SEC at www.sec.gov and its Annual Information Form
available on SEDAR at www.sedar.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/interoil-issues-statement-regarding-mulacek-group-300244674.html
SOURCE InterOil Corporation