Magnolia Petroleum Plc / Index: AIM /
Epic: MAGP / Sector: Oil & Gas
14 July 2017
Magnolia Petroleum
Plc (‘Magnolia’ or ‘the Company’)
Withdrawal of
Requisition for General Meeting
Magnolia Petroleum Plc, the AIM quoted US focused oil and gas
exploration and production company, announces that the requisition
for the general meeting (the “General Meeting”) has been withdrawn
by Mr Steven Snead, Snead Family
2012 LLC, Snead Family LLC and Mr R Sterling Snead (together the
“Snead Group”).
The board of Magnolia advises that proxies received as at noon
on 13 July 2017 (“Received Proxies”)
for the three resolutions recorded a minimum vote in support of the
Company (voting against the proposed resolutions) of 98.78 per
cent. of the Received Proxies with over 1,127,300,000 shares having
been voted for each of the resolutions by that point. The Received
Proxies appear consistent with the results of the AGM held on
12 July 2017, however, it should be
noted that the final proxy count would likely be subject to change
as a proxy had not been received from the Snead Group, the proxy
deadline had not expired and qualifying shareholders could have
cast votes at the General Meeting. The deadline for the
submission of proxy votes for qualifying shareholders was 15:30 on
Friday 14 July 2017.
The Company is aware that shareholders may have already made
plans to attend the General Meeting. Accordingly, the Company
would like to use the opportunity of the General Meeting to thank
shareholders for their support and also provide an update on
progress being made and the new strategic relationship with Western
Energy Development LLC. The update will take place instead of
the General Meeting at 15:30 p.m.
(BST) on 18 July 2017 at the
offices of Hill Dickinson LLP on the 8th Floor of The Broadgate
Tower, 20 Primrose Street, London,
EC2A 2EW.
For further information on the background to the General Meeting
please refer to the Company’s announcement of 20 June 2017.
* * ENDS * *
For further information on Magnolia Petroleum Plc
visit www.magnoliapetroleum.com or contact the
following:
Rita Whittington |
Magnolia Petroleum Plc |
+01918449 8750 |
Jo Turner / James Caithie |
Cairn Financial Advisers
LLP |
+44207213 0880 |
Colin Rowbury |
Cornhill Capital Limited |
+44207710 9610 |
Lottie Brocklehurst |
St Brides Partners Ltd |
+44207236 1177 |
Frank Buhagiar |
St Brides Partners Ltd
|
+44207236 1177 |