i3 Energy PLC Result of General Meeting (5476U)
30 March 2019 - 2:58AM
UK Regulatory
TIDMI3E
RNS Number : 5476U
i3 Energy PLC
29 March 2019
29 March 2019
i3 Energy plc
("i3" or the "Company")
Result of General Meeting
Capitalised terms used in this announcement (this
"Announcement") have the meanings given to them in the announcement
made 12(th) March 2019 regarding the proposed placing (the "Placing
Announcement"), unless the context provides otherwise.
Result of General Meeting
i3 Energy plc, an independent oil and gas company with assets
and operations in the UK, is pleased to announce that, following
the conclusion of its general meeting held earlier today, all
resolutions as set out in the circular sent to shareholders of the
Company on 13 March 2019 were duly passed. This includes the
passing of the resolutions in relation to the Placing so that the
Second Tranche of 32,237,716 New Ordinary Shares may be issued,
allotted and admitted to trading.
Admission
Admission of the Second Tranche of 32,237,716 New Ordinary
Shares will become effective at 8.00 a.m. on 1(st) April 2019 and
dealings will also commence at that time.
Further to the announcement of 25th May 2018, 925,926 Ordinary
Shares previously issued to James Card Asset Management ("JCAM") on
25th May 2018 pursuant to the conversion by JCAM of part of the
loan then owed to it by the Company have also been applied to be
admitted to trading. Admission of these shares is expected to
commence on or around 4(th) April 2019.
In accordance with the provisions of the Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority, the Company
confirms that, following the issue of the Second Tranche of New
Ordinary Shares on 1(st) April 2019 its issued ordinary share
capital will comprise 84,260,681 Ordinary Shares of GBP0.0001 each.
All of the Ordinary Shares have equal voting rights and none of the
Ordinary Shares are held in Treasury. The total number of voting
rights in the Company will therefore be 84,260,681 on Admission of
the Second Tranche of New Ordinary Shares. The above figure may be
used by shareholders, at the appropriate dates above, as the
denominator for the calculations to determine if they are required
to notify their interests in, or change to their interest in, the
Company.
Further to the announcement on 22(nd) March 2019, application
will be made for the 2,131,538 Ordinary Shares issued to management
and the board to be admitted to trading. It is expected that
admission of these shares will commence on or around 4(th) April
2019.
In accordance with the provisions of the Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority, the Company
confirms that, following admission to trading of the Ordinary
Shares to directors and management, as announced on 22 March 2019,
its issued ordinary share capital will comprise 86,392,219 Ordinary
Shares of GBP0.0001 each from 4(th) April 2019. All of the Ordinary
Shares have equal voting rights and none of the Ordinary Shares are
held in Treasury. The total number of voting rights in the Company
will therefore be 86,392,219 on admission these new Ordinary
Shares. The above figure may be used by shareholders, at the
appropriate dates above, as the denominator for the calculations to
determine if they are required to notify their interests in, or
change to their interest in, the Company.
ENDS
CONTACT DETAILS:
i3 Energy plc
Majid Shafiq (CEO) / Graham Heath c/o Camarco
(CFO) Tel: +44 (0) 203 781 8331
WH Ireland Limited (Nomad and Joint
Broker)
James Joyce, James Sinclair-Ford Tel: +44 (0) 207 220 1666
Canaccord Genuity Limited (Joint
Broker)
Henry Fitzgerald- O'Connor, James Tel: +44 (0) 207 523 8000
Asensio
GMP FirstEnergy (Joint Broker)
Jonathan Wright Tel: +44 (0) 207 448 0200
Camarco
Jennifer Renwick, Jane Glover, James Tel: +44 (0) 203 781 8331
Crothers
Notes to Editors:
i3 is an oil and gas development company initially focused on the North Sea. The Company's
core asset is the Greater Liberator Area, located in Blocks 13/23d and 13/23c, containing
11 MMBO of 2P Reserves, 22 MMBO of 2C Contingent Resources and 47 MMBO of mid-case Prospective
Resources. The Greater Liberator Area consists of the Liberator oil field discovered by well
13/23d-8 and the Liberator West extension, both of which i3 hold a 100% working interest in.
The Company's strategy is to acquire high quality, low risk producing and development assets,
to broaden its portfolio and grow its reserves and production.
The information contained within this announcement is deemed by the Company to constitute
inside information under the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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