Urals Energy Public Company Limited Result of Extraordinary General Meeting (3526G)
26 May 2017 - 6:45PM
UK Regulatory
TIDMUEN
RNS Number : 3526G
Urals Energy Public Company Limited
26 May 2017
26 May 2017
Urals Energy Public Company Limited
("Urals Energy", the "Company" or the "Group")
Result of Extraordinary General Meeting
Urals Energy (AIM:UEN), the independent oil and gas exploration
and production company with operations in Russia, is pleased to
announce that at the Company's Extraordinary General Meeting held
today all resolutions proposed were duly passed.
Share Consolidation
Following the approval by shareholders of the Company's proposed
share consolidation (the "Share Consolidation"), the 252,446,060
existing ordinary shares of nominal value US$0.0063 each in the
issued share capital of the Company (the "Existing Issued Ordinary
Shares") will be consolidated and divided into 12,622,303 new
ordinary shares of nominal value US$0.126 each (the "New Issued
Ordinary Shares"), effective on 30 May 2017.
The record date for the Share Consolidation is 26 May 2017 and
the latest time and date for dealings in the Existing Issued
Ordinary Shares prior to the Share Consolidation will be the close
of business on 26 May 2017. Application has been made to AIM for
the 12,622,303 New Issued Ordinary Shares to be admitted to trading
on AIM ("Admission"). It is expected that Admission will become
effective and that dealings will commence in the 12,622,303 New
Issued Ordinary Shares at 8.00 a.m. on 30 May 2017. The ISIN code
for the Company's New Issued Ordinary Shares will be CY0107130912.
Further details regarding the Share Consolidation can be found
within the Company's announcement of 21 April 2017.
Share Premium Reduction
Following the approval by shareholders of the proposed reduction
of the Company's share premium account from US$656,167,589 to
US$nil by writing off the losses of the Company equivalent to this
reduction of share premium account (the "Share Premium Reduction"),
the Company will now proceed with the filing of an application to
the Courts in Cyprus in respect of the Share Premium Reduction.
The anticipated date for the completion of the Share Premium
Reduction is on or around 10 July 2017, however, update
announcements in respect of the Court process in Cyprus will be
provided by the Company at the appropriate times. Further details
regarding the Share Premium Reduction can be found within the
Company's announcement of 21 April 2017.
Enquiries:
Urals Energy Public Company
Limited
Andrew Shrager, Chairman Tel: +7 495 795
Leonid Dyachenko, Chief 0300
Executive Officer
Sergey Uzornikov, Chief
Financial Officer
www.uralsenergy.com
Allenby Capital Limited
Nominated Adviser and Broker
Nick Naylor / Alex Brearley Tel: +44 (0) 20
3328 5656
www.allenbycapital.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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