TIDMLOGP
RNS Number : 2175Y
Lansdowne Oil & Gas plc
29 December 2023
29 December 2023
Lansdowne Oil & Gas plc
("Lansdowne" or the "Company")
Result of General Meeting, Share Capital Reorganisation &
Admission of Conditional Placing Shares
Lansdowne is pleased to confirm that at the Company's General
Meeting held earlier today, all resolutions were duly passed . Full
details of the resolutions are set out in the Notice of General
Meeting dated 8 December 2023 and available on the Company's
website at:
https://www.lansdowneoilandgas.com/portfolio-item/lansdowne-circular/
The proxy votes cast were as follows:
Resolution For Against Abstain
1. Approve Share Capital 296,427,906 99.91% 273,565 0.09% 0
------------ ------ --------- ----- --------
2. Allot Equity Securities 296,427,906 99.91% 273,565 0.09% 0
------------ ------ --------- ----- --------
3. Allot Equity Securities
2 296,427,906 99.91% 273,565 0.09% 0
------------ ------ --------- ----- --------
4. Pre-emption Rights 296,427,906 99.91% 273,565 0.09% 0
------------ ------ --------- ----- --------
5. Pre-emption Rishts
2 296,427,906 99.91% 273,565 0.09% 0
------------ ------ --------- ----- --------
6. Adoption of New Articles 296,429,156 99.91% 272,315 0.09% 0
------------ ------ --------- ----- --------
Conditional Placing
As detailed in the Company's announcement of 7 December 2023 and
following the passing of resolutions at today's General Meeting,
160,000,000 new ordinary shares of 0.01 pence each in the Company
raising an additional GBP160,000 will be admitted to trading on 02
January 2024 (the "Placing Shares").
Share Capital Reorganisation
Following the passing of the resolutions at the General Meeting,
each of the Company's 1,233,618,337 Existing Ordinary Shares will
be sub-divided into one New Ordinary Share of 0.01p (the "New
Ordinary Shares") and one deferred share of 0.09p ("New Deferred
Shares"). The New Deferred Shares will have little economic value
as they will not carry any rights to vote or dividend rights,
although the New Deferred Shares will rank pari passu with the New
Ordinary Shares on a return of capital or on a winding up of the
Company.
Admission to AIM and Total Voting Rights
Dealings on AIM in the Existing Ordinary Shares is expected to
cease at the close of business on 29 December 2023.
Application has been made for the admission of 1,233,618,337 New
Ordinary Shares and 160,000,000 Placing Shares to trading on AIM
("Admission") and it is expected that Admission will take place and
that trading in the New Ordinary Shares will commence at 8.00 a.m.
on or around 2 January 2024. No application will be made for
admission of the New Deferred Shares to trading on AIM nor will any
such application be made to any other exchange.
Following Admission, there will be a total of 1,393,618,337 New
Ordinary Shares, with voting rights, in issue. The Company does not
hold any shares in treasury. Consequently, 1,393,618,337 is the
figure which may be used by shareholders as the denominator for the
calculation by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency
Rules.
Unless otherwise indicated, all defined terms in this
announcement shall have the same meaning as described in the
Company's announcement dated 7 December 2023 and the Circular which
was posted to shareholders shortly thereafter.
For further information please contact:
Lansdowne Oil & Gas plc +353 1 963 1760
Steve Boldy
SP Angel Corporate Finance
LLP +44 (0) 20 3470 0470
Nominated Adviser and
Joint Broker
Stuart Gledhill
Richard Hail
Charlie Bouverat
Tavira Financial Limited +44 (0) 20 3192 1739
Joint Broker
Oliver Stansfield
Notes to editors:
About Lansdowne
Lansdowne Oil & Gas (LOGP.LN) is an oil and gas exploration
and appraisal company, focused on the North Celtic Sea and quoted
on the AIM market and head quartered in Dublin.
In May 2023, the application for a Lease Undertaking for the
Barryroe Field, in which Lansdowne held a 20% interest, was refused
by the Irish Department of the Environment, Climate and
Communications.
In June 2023, Lansdowne announced the commencement of action
under the Arbitration Process of the Energy Charter Treaty.
Since 20 September 2023, Lansdowne has been designated a
"Cash-Shell" under AIM Rule 15.
For more information on Lansdowne, please refer to
www.lansdowneoilandgas.com .
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END
ROMFLFFIFLLAFIV
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December 29, 2023 05:23 ET (10:23 GMT)
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