Urals Energy Public Company Limited Update on the EGM (5073Y)
25 January 2014 - 3:17AM
UK Regulatory
TIDMUEN
RNS Number : 5073Y
Urals Energy Public Company Limited
24 January 2014
Press Release 24 January 2014
Urals Energy PCL
("Urals Energy" or the "Company")
Update on the EGM
Urals Energy (AIM:UEN), the independent exploration and
production company with operations in Russia, announces that, in
connection with the Extraordinary General Meeting of the Company
due to held on 27 January 2014 (the "EGM"), it has today received a
notice from Fire East Corporation ("Fire East"), the sole remaining
requisitioner of the EGM, withdrawing the request that Maxim
Barskiy and Jonathan Kolleck be appointed to the board of directors
of the Company (the "Board"). Further, Fire East has requested that
the other six proposed resolutions, which seek shareholders'
approval to remove the existing members of the Board, are still put
to shareholders at the EGM.
The Company notes that were the remaining six resolutions to be
approved by shareholders at the EGM then, given that Fire East have
not as yet proposed any alternate directors, the Company would be
left without any directors on the Board. In this situation, the
Company would be forced to seek the immediate suspension of its
shares as it would be unable to operate effectively as a quoted
company, pending the appointment of a suitably experienced
Board.
The Board believes that this reinforces their unanimous
recommendation that shareholders vote against all the resolutions
proposed by Fire East at the EGM.
- 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
7702
henry.ht@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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