Magnolia Petroleum Plc Withdrawal of Requisition for General Meeting
July 14 2017 - 1:00AM
UK Regulatory
TIDMMAGP
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"General Meeting") has been withdrawn by Mr Steven Snead, Snead Family 2012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
END
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