TIDMPGR

RNS Number : 9889X

Phoenix Global Resources PLC

01 September 2022

1 September 2022

Phoenix Global Resources plc

("Phoenix" or the "Company")

Result of General Meeting

The Board of Phoenix Global Resources plc (AIM: PGR; BCBA: PGR), the upstream oil and gas company, announces that the special resolutions to approve the Company's Cancellation and Re-registration put to Shareholders at the General Meeting held earlier today were duly passed on a show of hands.

If the voting had been on a poll the proxy votes received in advance of the meeting on each resolution are set out below:

 
 Special Resolution           Votes for       %       Votes against   %      Votes withheld  % 
 1 - To approve 
  the cancellation 
  of the admission 
  to trading on 
  AIM of the ordinary 
  shares of 10 
  pence each in 
  the capital of 
  the Company                 2,432,849,199   99.06   22,996,113      0.94   3,961           0.00 
                             --------------  ------  --------------  -----  ---------------  ---- 
 2 - To approve: 
  (a) the re--registration 
  as a private 
  company with 
  the name "Phoenix 
  Global Resources 
  Limited"; and 
  (b) new Articles 
  of Association              2,432,849,199   99.06   22,996,113      0.94   3,961           0.00 
                             --------------  ------  --------------  -----  ---------------  ----

As a result, it is expected that the last day of dealings in the Company's Ordinary Shares on AIM will be 14 September 2022 and the Cancellation will become effective at 7.00 a.m. on 15 September 2022.

The expected timetable of principle events is set out below:

 
                                       1.00 p.m. on 7 September 
 Exit Opportunity closes                                   2022 
 Company's announcement of number 
  of Shares sold pursuant to the 
  Exit Opportunity                             9 September 2022 
 Expected last day of dealings in 
  Ordinary Shares on AIM                      14 September 2022 
 Expected last day of dealings in 
  Ordinary Shares on BASE                     14 September 2022 
 Expected time and date of the AIM    7.00 a.m. on 15 September 
  Cancellation                                             2022 
 Expected time and date of the BASE 
  Cancellation                                15 September 2022 
 Expected date of Re-registration             29 September 2022

Notes:

1. Each of the times and dates in the above timetable are subject to change. If any of the above times or dates change, the revised times or dates will be notified to Shareholders by means of an announcement made through a Regulatory Information Service (as defined in the AIM Rules). All references to times in announcement are to London times unless otherwise stated.

All defined terms in this announcement, unless otherwise defined, will have the same meaning as those defined in the Circular dated 3 August 2022.

Ends

For further information, please contact:

 
Phoenix Global Resources  Nigel Duxbury, Company  T: +44 20 3912 2800 
 plc                       Secretary 
 
  Shore Capital             Toby Gibbs              T: +44 20 7408 4090 
  Nominated Adviser and     David Coaten 
  Joint Broker 
 
  Panmure Gordon            John Prior              T: +44 20 7886 2500 
  Joint Broker              Atholl Tweedie

About Phoenix

Phoenix Global Resources is an independent oil and gas exploration and production company focused on Argentina and listed on both the London Stock Exchange (AIM: PGR) and the Buenos Aires Stock Exchange (BCBA: PGR) and offers its investors an opportunity to invest directly into Argentina's Vaca Muerta shale formation and other unconventional resources. The Company has over 0.8 million licenced working interest acres in Argentina (of which approximately 0.7 million are operated), 71.1 million boe of working interest 2P reserves and average working interest production of 4,553 boepd in 2021. Phoenix has signi cant exposure to the unconventional opportunity in Argentina through its approximately 0.4 million working interest acres with Vaca Muerta and other unconventional potential.

The Company's website is www.phoenixglobalresources.com

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END

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(END) Dow Jones Newswires

September 01, 2022 08:48 ET (12:48 GMT)

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