Petroneft Resources PLC Notice of EGM (2731N)
29 Enero 2021 - 1:00AM
UK Regulatory
TIDMPTR
RNS Number : 2731N
Petroneft Resources PLC
29 January 2021
PetroNeft Resources plc ("PetroNeft" or "the Company")
29 January 2021
Notice of Extraordinary General Meeting
PetroNeft Resources plc (AIM:PTR.L, ISE:PTR), an international
oil and gas exploration and production company focused on Russia
provides notice of an Extraordinary General Meeting ("EGM").
An EGM will be held at the Company's offices at 20 Holles
Street, Dublin 2, Ireland at 11.00 am Irish time on Friday, 19
February 2021.
Until now transactions in the shares of the Company have been
settled through the CREST system. However, after the United Kingdom
withdraws from the European Union, it will no longer be possible to
use the CREST system. Consequently, PetroNeft like all other Irish
incorporated and traded PLCs, will have to migrate settlement to
another system based within the EU called Euroclear. This is a
necessity as there is no meaningful alternative for settlement.
While it will not materially affect the fundamental rights and
benefits shareholders have by owning shares, the Euroclear system,
which is an intermediated system, is administratively and legally
more complicated than the CREST system. For those shareholders who
hold their shares in paper outside of CREST, there will be no
change to what is owned and how it is held.
The business of the EGM will be to consider and, if thought fit,
approve certain resolutions relating to the replacement of CREST
with the Euroclear system for the electronic settlement of trading
in the Company's ordinary shares.
While PetroNeft expects the EGM to proceed on 19 February 2021,
the health and safety of its shareholders, employees and others who
would ordinarily attend an EGM is of paramount concern. The Company
is obliged to comply with the emergency measures introduced by the
Irish Government, which require people to stay at home and restrict
public gatherings to limit the impact and spread of COVID-19.
Shareholders should expect the EGM to take place under
constrained circumstances. PetroNeft will ensure that all legal
requirements of the meeting, in accordance with its Articles of
Association, are satisfied with the minimum necessary quorum of
three shareholders and physical distancing measures will be in
place. The Company asks shareholders to adhere to Irish Government
regulations and guidance and vote by proxy on the resolutions set
out in the Notice of EGM as early as possible. The Company reserves
the right to refuse entry to the meeting where reasonably necessary
to comply with the COVID-19 related public health measures and
advice. Further details on how to submit a proxy are set out in the
Notice of EGM.
PetroNeft will continue to closely monitor the developing
situation around COVID-19, including the latest Government
guidance, and how this may affect the arrangements for the EGM.
Consequently, the EGM is subject to change, possibly at short
notice. If it becomes necessary or appropriate to revise the
current arrangements for the EGM, further information will be made
available as quickly as possible by RNS and at www.petroneft.com
.
The Circular, the Form of Proxy and copies of the documents
referred to in the Circular are available to view on PetroNeft's
website ( www.petroneft.com ).
To facilitate shareholder communication, the EGM will be
broadcast by conference call. Details of the conference call will
be available at www.petroneft.com .
PetroNeft encourages shareholders who wish to submit questions
at the EGM to do so in advance by email to info@petroneft.com
before 2:00pm Irish time on Wednesday, 19 February 2021.
and
For further information, contact:
+971 55 1919
David Sturt, CEO, PetroNeft Resources plc 808
John Frain/Caroline Pearson, Davy (NOMAD and +353 1 679
Joint Broker) 6363
+353 1 498
Joe Heron / Douglas Keatinge, Murray Consultants 0300
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