San Leon Energy PLC Notice of extraordinary general meeting (6800K)
06 January 2021 - 6:00PM
UK Regulatory
TIDMSLE
RNS Number : 6800K
San Leon Energy PLC
06 January 2021
6 January 2021
San Leon Energy plc
("San Leon" or the "Company")
Notice of extraordinary general meeting
An extraordinary general meeting of the Company will be held at
3300 Lake Drive, Citywest Business Campus, Dublin 24, D24 TD21,
Ireland on Monday 1 February 2021 at 3.00 p.m. (the "EGM").
The business of the EGM will be to consider and, if thought fit,
approve certain resolutions which are necessary to effect a
technical change to how, and where, the electronic settlement of
trading in San Leon shares occurs. Settlement is the process that
occurs following a trade in San Leon shares when payment is made
and ownership of the shares transfers. This change is a consequence
of the end of the transition period following the United Kingdom's
departure from the European Union ("Brexit") and will not alter
where San Leon shares are listed or traded. The change affects all
Irish companies whose securities are listed and traded in
London.
Background to the EGM
As a consequence of Brexit, the settlement system relating to
trading in the Company's shares needs to move from CREST in London
to Euroclear Bank in Belgium ("Migration"). Migration is expected
to occur on 15 March 2021. However, if the resolutions proposed for
the EGM are passed, the Company's shares will continue to trade on
AIM in London.
There is no meaningful alternative to Migration and failure to
migrate would remove the Company's access to electronic trade
settlement. This would seriously risk the Company's ability to
retain admission of its shares to trading on AIM and, importantly,
a market for its ordinary shares. Therefore, the board is asking
all shareholders to support the resolutions proposed for the EGM by
voting in favour of all the resolutions being proposed at the EGM
or appointing a proxy to do so on their behalf.
A circular, which includes the notice of the EGM (the
"Circular"), and a form of proxy have been posted to shareholders
today. The Board strongly urges shareholders to review the contents
of the Circular in their entirety, including the documents referred
to therein, and consider the Board's recommendation to vote in
favour of the resolutions being proposed at the EGM.
In economic terms, shareholders' interest in their shares is
largely unaffected by Migration but there are some technical
changes to how their interest is held and therefore shareholders
are recommended to read the Circular.
The Circular, the form of proxy and copies of the documents
referred to in the Circular are available to view on the Company's
website,
www.sanleonenergy.com/investors/reports-notices-shareholder-documents/shareholder-notices-and-documents/
, and will be available for inspection during normal business hours
on any business day from the date of this letter until the EGM at
the registered office of the Company at 2 Shelbourne Buildings,
Crampton Avenue, Dublin 4, D04 W3V6, Ireland. However, due to
Covid-19 public health guidelines, shareholders are advised to view
the documents on the website.
Public Health Guidelines and the EGM
The well-being of shareholders and employees is a primary
concern for the Board. The Board is closely monitoring the COVID-19
situation and will take all recommendations and applicable law into
account in the conduct of the EGM. There will likely be very
limited ability to attend the EGM in person and the Board therefore
strongly encourages shareholders to appoint the chairman of the EGM
as a proxy by submitting a proxy form not less than 48 hours before
the time appointed for the EGM or any adjournment thereof, in order
to ensure they can exercise their vote and be represented at the
EGM without attending in person.
Proxy forms can be submitted in advance of the EGM by availing
of one of the options set out in the notice of the EGM:
(i) by post or by hand to the Company's registrar, Computershare
Investor Services (Ireland) Limited, 3100 Lake Drive, Citywest
Business Campus, Dublin 24, D24 AK82, Ireland;
(ii) electronically by accessing www.eproxyappointment.com ; or
(iii) via the CREST System, where shares are held in CREST.
Any relevant updates regarding the EGM, including any changes to
the arrangements outlined in the Circular, will be announced via a
Regulatory Information Service and will be available on
www.sanleonenergy.com .
In the event that it is not possible to hold the EGM either in
compliance with public health guidelines or applicable law or where
it is otherwise considered that proceeding with the EGM as planned
poses an unacceptable health and safety risk, the EGM may be
adjourned or postponed or relocated to a different time and/or
venue, in which case notification of such adjournment or
postponement or relocation will be given in accordance with
applicable law.
Enquiries:
San Leon Energy plc +353 1291 6292
Oisin Fanning, Chief Executive
Allenby Capital Limited
(Nominated adviser and joint broker to the Company) +44 20 3328 5656
Nick Naylor
Alex Brearley
Asha Chotai
Panmure Gordon & Co
(Joint broker to the Company) +44 20 7886 2500
Nick Lovering
Brandon Hill Capital Limited
(Joint broker to the Company) +44 20 3463 5000
Oliver Stansfield
Jonathan Evans
Tavistock
(Financial Public Relations) +44 20 7920 3150
Nick Elwes
Simon Hudson
Plunkett Public Relations +353 1 230 3781
Sharon Plunkett
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