Cadogan Petroleum Intention to requisition a general meeting
30 September 2019 - 4:00PM
UK Regulatory
TIDMCAD
NOT FOR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA OR ANY
OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL.
Press
Release
30 September, 2019
This announcement contains inside information as defined under the Market
Abuse Regulations n. 596/2014
Cadogan Petroleum Plc
("Cadogan" or the "Company")
Receipt of notice of intention to requisition a general meeting
Cadogan Petroleum plc ("Cadogan"), an independent, diversified oil & gas
company listed on the Main Market of the London Stock Exchange, hereby
announces that it has received a letter from two shareholders indicating that
they intend to requisition a general meeting in accordance with Section 303 of
the Companies Act 2006.
The shareholders proposing to requisition the general meeting are controlled by
Mr Michel Meeus (who is also a current Director of the Company) and SPF Devola
SA. Together these shareholders hold 43,409,000 shares of the Company,
representing over five per cent of the total paid up capital of the Company.
The resolutions to be put to the requisitioned general meeting will include
that each of Messrs Schenato and Testa be removed as Directors of the Company
and also that three new persons be elected as Directors of the Company.
The Board of the Company recommends that shareholders take no action in respect
of this announcement at this stage.
In view of the proposed requisition of a general meeting for these purposes,
the Board has decided to place the process with respect to the recruitment of a
replacement CEO temporarily on hold. The Board has requested that the incumbent
CEO consider extending his term past 30 September (being the previously
announced date that he intended to step down) and is awaiting his answer.
Further announcements will be made in due course.
This Announcement has been issued by, and is the sole responsibility of, the
Company.
For further information, please contact:
Cadogan Petroleum plc
Guido Michelotti Chief Executive Officer +380 (44) 594 5870
Ben Harber Company Secretary +44 0207 264 4366
Cantor Fitzgerald Europe Broker to Cadogan Petroleum plc
David Porter +44 (0) 20 7894
7000
END
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