NOT FOR RELEASE, DIRECTLY OR
INDIRECTLY, IN THE UNITED STATES OF
AMERICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE
UNLAWFUL.
Press
Release
30
September, 2019
This announcement contains inside information as defined
under the Market Abuse Regulations n. 596/2014
Cadogan Petroleum
Plc
(“Cadogan” or the
“Company”)
Receipt of notice
of intention to requisition a general meeting
Cadogan Petroleum plc (“Cadogan”), an independent, diversified
oil & gas company listed on the Main Market of the London Stock
Exchange, hereby announces that it has received a letter from two
shareholders indicating that they intend to requisition a general
meeting in accordance with Section 303 of the Companies Act
2006.
The shareholders proposing to requisition the general meeting
are controlled by Mr Michel Meeus
(who is also a current Director of the Company) and SPF Devola SA.
Together these shareholders hold 43,409,000 shares of the Company,
representing over five per cent of the total paid up capital of the
Company.
The resolutions to be put to the requisitioned general meeting
will include that each of Messrs Schenato and Testa be removed as
Directors of the Company and also that three new persons be elected
as Directors of the Company.
The Board of the Company recommends that shareholders take no
action in respect of this announcement at this stage.
In view of the proposed requisition of a general meeting for
these purposes, the Board has decided to place the process with
respect to the recruitment of a replacement CEO temporarily on
hold. The Board has requested that the incumbent CEO consider
extending his term past 30 September (being the previously
announced date that he intended to step down) and is awaiting his
answer.
Further announcements will be made in due course.
This Announcement has been issued by, and is the sole
responsibility of, the Company.
For further information, please
contact:
Cadogan Petroleum plc |
|
|
Guido Michelotti |
Chief Executive Officer |
+380 (44) 594 5870 |
Ben Harber |
Company Secretary |
+44 0207 264 4366 |
|
|
|
Cantor Fitzgerald Europe |
Broker to Cadogan Petroleum plc |
|
David Porter |
|
+44 (0) 20 7894 7000 |