Magnolia Petroleum Plc Notice of Requisition of General Meeting - Update
June 09 2017 - 8:50AM
UK Regulatory
TIDMMAGP
Magnolia Petroleum Plc / Index: AIM / Epic: MAGP / Sector: Oil & Gas
9 June 2017
Magnolia Petroleum Plc ('Magnolia' or 'the Company')
Notice of Requisition of General Meeting - Update
Magnolia Petroleum plc, the AIM quoted US focused oil and gas exploration and
production company, provides an update to the announcement made on 2 June 2017,
regarding a requisition notice received for a general meeting to consider
resolutions in respect of directorate changes.
The Company has now determined the requisition notice, which was received from
Steven Snead, Snead Family 2012 LLC, Snead Family LLC and R Sterling Snead, to
be valid. As such, the Company will convene a general meeting and post a
circular to shareholders in due course for the purpose of considering the
following resolutions:
1. That in accordance with the provisions of Article 90 of the Articles of
Association of the Company and section 168 of the Companies Act 2006 Rita Fern
Whittington be removed from office as a director of the Company immediately.
2. That in accordance with the provisions of Article 86 of the Articles of
Association and subject to the AIM Rules for Companies of the London Stock
Exchange Plc Kristian Ewen Ainsworth be appointed a director of the Company.
3. That in accordance with the provisions of Article 86 of the Articles of
Association and subject to the AIM Rules for Companies of the London Stock
Exchange Plc Donald Zac Phillips be appointed a director of the Company.
The information contained within this announcement constitutes inside
information stipulated under the Market Abuse Regulation (EU) No. 596/2014.
* * ENDS * *
For further information on Magnolia Petroleum Plc visit http://
www.magnoliapetroleum.com/ or contact the following:
Rita Whittington Magnolia Petroleum Plc +01918449 8750
Jo Turner / James Caithie Cairn Financial Advisers +44207213 0880
LLP
Colin Rowbury Cornhill Capital Limited +44207710 9610
Lottie Brocklehurst St Brides Partners Ltd +44207236 1177
Frank Buhagiar St Brides Partners +44207236 1177
Ltd
Notes
Magnolia Petroleum Plc is an AIM quoted, US focused, oil and gas exploration
and production company. Its portfolio includes interests in 222 producing and
non-producing assets, primarily located in the highly productive Bakken/Three
Forks Sanish hydrocarbon formations in North Dakota as well as the oil rich
Mississippi Lime and the substantial and proven Woodford and Hunton formations
in Oklahoma.
Summary of Wells
Category Number of wells
Producing 158
Being drilled / completed 13
Elected to participate / waiting to 51
spud
TOTAL 222
END
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