REG - Angus Energy PLC - Update regarding forthcoming General Meeting

Angus EnergyAnnouncement

25/10/2023 10:45

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RNS Number : 2690R  Angus Energy PLC  25 October 2023

25 October 2023

 

Angus Energy Plc

("Angus Energy", the "Company" or together with its subsidiaries, the "Group")

(AIM:ANGS)

 

 

Update regarding forthcoming General Meeting ("GM")

 

The Company reminds shareholders of the forthcoming GM scheduled to be held at
the offices of Fladgate LLP, 16 Great Queen Street, London WC2B 5DG on Monday
30 October 2023 at 11.00 a.m., as announced on 12 October 2023. The Company
would like to clarify that the agreement with Kemexon as originally notified
on 28 March 2023 required that any conversion of the Loan into equity, on the
terms outlined, was conditional on a conversion being mutually agreed by
Kemexon and the Company; therefore noting the Company's financial position as
previously reported, the impending repayment date and that any extension was
at the option of the lender, the Company was to all practical purposes only
able to agree conversion of the Loan at a price per share of 0.66 pence, being
approximately the share price at that time, with Kemexon as announced on 28
September 2023. The Board recognises of course that this is below the
initially intended conversion price of 1p. However, due to the drop in share
price it was a good result for the Company to have discharged a loan at market
price and therefore at no discount to the prevailing share price.

 

END

 

For further information on the Company, please visit www.angusenergy.co.uk
(http://www.angusenergy.co.uk) or contact:

Enquiries:

 

Angus Energy Plc
                www.angusenergy.co.uk
(http://www.angusenergy.co.uk)

 

Richard Herbert
 
                Tel: +44 (0) 208 899 6380

 

Beaumont Cornish Limited (Nomad)      www.beaumontcornish.com
(http://www.beaumontcornish.com)

 

James Biddle / Roland Cornish                   Tel: +44 (0)
207 628 3396

 

WH Ireland Limited (Broker)

 

Katy Mitchell / Harry Ansell
Tel: +44 (0) 207 220 1666

 

Flagstaff PR/IR
 
                angus@flagstaffcomms.com

 

Tim Thompson / Fergus Mellon                 Tel: +44 (0) 207
129 1474

 

Aleph Commodities
                info@alephcommodities.com

 

Disclaimers - this Announcement includes statements that are, or may be deemed
to be, "forward-looking statements". These forward-looking statements can be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "forecasts", "plans", "prepares", "anticipates",
"projects", "expects", "intends", "may", "will", "seeks", "should" or, in each
case, their negative or other variations or comparable terminology, or by
discussions of strategy, plans, objectives, goals, future events or
intentions. These forward-looking statements include all matters that are not
historical facts. They appear in a number of places throughout this
Announcement and include statements regarding the Company's and the Directors'
intentions, beliefs or current expectations concerning, amongst other things,
the Company's prospects, growth and strategy. By their nature, forward-looking
statements involve risks and uncertainties because they relate to events and
depend on circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future performance. The
Company's actual performance, achievements and financial condition may differ
materially from those expressed or implied by the forward-looking statements
in this Announcement. In addition, even if the Company's results of
operations, performance, achievements and financial condition are consistent
with the forward-looking statements in this Announcement, those results or
developments may not be indicative of results or developments in subsequent
periods. Any forward-looking statements that the Company makes in this
Announcement speak only as of the date of such statement and (other than in
accordance with their legal or regulatory obligations) neither the Company,
nor the Bookrunner nor Beaumont Cornish nor any of their respective
associates, directors, officers or advisers shall be obliged to update such
statements. Comparisons of results for current and any prior periods are not
intended to express any future trends or indications of future performance,
unless expressed as such, and should only be viewed as historical data.

Beaumont Cornish Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as nominated adviser to
the Company in relation to the matters referred herein. Beaumont Cornish
Limited is acting exclusively for the Company and for no one else in relation
to the matters described in this announcement and is not advising any other
person and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Beaumont Cornish
Limited, or for providing advice in relation to the contents of this
announcement or any matter referred to in it.

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