Alliance Resources - Re Directorate/Result of AGM
December 11 1997 - 6:38AM
UK Regulatory
RNS No 5828t
ALLIANCE RESOURCES PLC
11th December 1997
BOARD CHANGES AND ANNUAL GENERAL MEETING
The directors of Alliance Resources PLC ("Alliance") announce the
following board changes:-
D. Patrick Maley has resigned as chairman and as a director and
Jeffrey T. Wilson and Stanley Robinson have also resigned as
directors.
Jak Keenan, managing director, has been appointed interim chairman
and Michael Humphries, senior vice president of Rothschild Natural
Resources LLC, has been appointed a non executive director.
At Alliance's Annual General Meeting held on 9 December 1997,
all the Ordinary and Special Resolutions put to the meeting were
approved by shareholders, including the following special
business, which was passed as a Special Resolution:-
"That the Directors be and they are hereby generally
empowered pursuant to Section 95 of the Companies
Act 1985 ("the Act") to allot equity securities (as
defined in Section 94(2) of the Act) for cash, at
any time when they are generally authorised for the
purposes of Section 80 of the Act, as if Section
89(1) of the Act did not apply to any such
allotment, provided that this power is limited:
(i) to the allotment of equity securities in
connection with a rights issue in favour of the
holders of ordinary shares when the equity
securities respectively attributable to the
interests of the ordinary shareholders are
proportionate (as nearly as may be) to the
respective numbers of ordinary shares held or
deemed to be held by them, subject only to such
exclusions or other arrangements as the
directors may deem necessary or expedient to
deal with fractional entitlements, legal or
practical problems arising in any overseas
territory or by virtue of shares being
represented by depository receipts, the
requirements of any regulatory body or stock
exchange, or any other matter whatsoever; and
(ii) to the allotment (otherwise than pursuant to
sub-paragraph (i) of this resolution) of equity
securities up to an aggregate nominal value
equal to five per cent of the issued ordinary
share capital of the Company at the date of the
passing of this resolution;
and shall expire at the conclusion of the annual
general meeting of the Company or 8 March 1999
whichever is the earlier, save that the Company may
before such expiry make an offer or agreement which
would or might require equity securities to be
allotted after such expiry and the directors may
allot equity securities in pursuance of such
offer or agreement as if the power conferred hereby
had not expired."
Inquiries to:
Alliance Resources PLC
Jak Keenan (Managing Director)
Tulsa, Oklahoma
Telephone: 001-918-747-7000 or
Brian Williams (Finance Director)
London, UK
Telephone: 0171-930-9337
END
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