TIDMUEN

RNS Number : 8702O

Urals Energy Public Company Limited

25 September 2013

 
 Press Release   25 September 2013

Urals Energy PCL

("Urals Energy" or the "Company")

Requisition of an extraordinary general meeting

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, announces that it has received a notice requisitioning an extraordinary general meeting of shareholders (the "EGM Notice") to consider the removal of Andrew Shrager, Alexei Maximov, Leonid Y Dyachenko, Aleksey V Ogarev, Ingeborg Srenger and Stephen Buscher from the board of Urals Energy and the appointment of Maxim Barskiy and Jonathan Kollek in their place.

The EGM Notice has been served by Alpcot Capital Management Ltd and Fire East Corporation who state that they are interested in 77,302,785 shares, in aggregate, in Urals Energy representing approximately 30.62 per cent. of the Company's issued share capital.

Urals Energy is currently taking legal advice on the validity of the EGM Notice and further announcements will be made at the appropriate time. In the meantime, Urals Energy will release its interim results for the six months ended 30 June 2013 by the end of this week as originally targeted.

- Ends -

For further information, please contact:

 
 Urals Energy Public Company Limited 
 Alexei Maximov, Chief Executive       Tel: +7 495 795 0300 
  Officer 
 Sergey Uzornikov, Chief Financial      www.uralsenergy.com 
  Officer 
 
 
 Allenby Capital Limited 
  Nominated Adviser and Broker 
 Nick Naylor                       Tel: +44 (0) 20 3328 
                                                   5656 
 Alex Price                      www.allenbycapital.com

Media enquiries:

 
 Abchurch 
 Henry Harrison-Topham / Quincy Allan     Tel: +44 (0) 20 7398 
                                                          7710 
 quincy.allan@abchurch-group.com        www.abchurch-group.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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