Egdon Resources PLC Results of General Meeting (6309M)
January 22 2021 - 05:28AM
UK Regulatory
TIDMEDR
RNS Number : 6309M
Egdon Resources PLC
22 January 2021
EGDON RESOURCES PLC
("Egdon" or "the Company")
Results of General Meeting
22 January 2021
Egdon Resources plc (AIM: EDR) is pleased to announce that at
the General Meeting held at 10.00 hours today Shareholders approved
all the resolutions proposed in the notice of general meeting
contained in the Circular sent to Shareholders dated 6 January
2021. Capitalised terms not defined in this announcement shall have
the meaning ascribed to them in the Circular.
-- Resolution 1, (the "Whitewash Resolution") was an ordinary
resolution to approve the Rule 9 Waiver, with 97.64 % voting in
favour and 2.36 % voting against;
-- Resolution 2, was an ordinary resolution to authorise the
Directors to allot Ordinary Shares pursuant to the terms of the
Subscription Agreement and Convertible Loan Note Instrument up to a
maximum nominal amount of GBP732,334.06, with 99.17 % voting in
favour and 0.83 % voting against, and;
-- Resolution 3, was proposed a special resolution, to disapply
the statutory pre-emption rights in respect of the Ordinary Shares
allotted for cash, pursuant to the authority conferred on them by
resolution 2 to allot such shares up to a maximum nominal value of
GBP732,334.06, with 99.16 % voting in favour and 0.84 % voting
against.
The Whitewash Resolution was taken in accordance with the
requirements of the Takeover Code and decided on a poll of
Independent Shareholders voting at the General Meeting. Members of
the Concert Party were not permitted to vote on Resolution 1.
The Company will now make a drawdown request to the Investors
(Petrichor Partners and Jalapeno) for the maximum amount of
approximately GBP1.05 million under the Subscription Agreement and
the Investors shall have up to two business days in which to pay
the funds due under the subscription request, expected to be 26
January 2021. The Convertible Loan Notes will be issued within two
business days following receipt of the funds.
Enquiries:
Egdon Resources plc
Mark Abbott / Martin Durham 01256 702 292
Financial Adviser & Joint Broker - VSA Capital
Limited
Andrew Monk (Corporate Broking)
Andrew Raca (Corporate Finance) 020 3005 5000
Nominated Adviser & Joint Broker - WH Ireland
Limited
Chris Hardie
Lydia Zychowska 020 7220 1666
Buchanan
Ben Romney, Chris Judd 020 7466 5000
Notes to Editors:
Egdon Resources plc (LSE: EDR) is an established UK-based
exploration and production company focused on onshore exploration
and production in the hydrocarbon-producing basins of the UK.
Egdon holds interests in 42 licences in the UK and has an active
programme of exploration, appraisal and development within its
portfolio of oil and gas assets. Egdon is an approved operator in
the UK. Egdon was formed in 1997 and listed on AIM in December
2004.
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END
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