REG-Cadogan Petroleum: Intention to requisition a general meeting

Cadogan Energy SolutionsAnnouncement

30/09/2019 07:05

NOT FOR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA OR
ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL.

Press
Release                                                                                   
                               
                    30 September, 2019

This  announcement contains inside information as defined under the Market
Abuse Regulations  n. 596/2014

Cadogan Petroleum Plc

(“Cadogan” or the “Company”)

Receipt of notice of intention to requisition a general meeting

Cadogan Petroleum plc (“Cadogan”), an independent, diversified oil & gas
company listed on the Main Market of the London Stock Exchange, hereby
announces that it has received a letter from two shareholders indicating that
they intend to requisition a general meeting in accordance with Section 303 of
the Companies Act 2006.

The shareholders proposing to requisition the general meeting are controlled
by Mr Michel Meeus (who is also a current Director of the Company) and SPF
Devola SA. Together these shareholders hold 43,409,000 shares of the Company,
representing over five per cent of the total paid up capital of the Company.

The resolutions to be put to the requisitioned general meeting will include
that each of Messrs Schenato and Testa be removed as Directors of the Company
and also that three new persons be elected as Directors of the Company.

The Board of the Company recommends that shareholders take no action in
respect of this announcement at this stage.

In view of the proposed requisition of a general meeting for these purposes,
the Board has decided to place the process with respect to the recruitment of
a replacement CEO temporarily on hold. The Board has requested that the
incumbent CEO consider extending his term past 30 September (being the
previously announced date that he intended to step down) and is awaiting his
answer.

Further announcements will be made in due course.

This Announcement has been issued by, and is the sole responsibility of, the
Company.

For further information, please contact:

 Cadogan Petroleum plc                                                            
 Guido Michelotti          Chief Executive Officer          +380 (44) 594 5870    
 Ben Harber                Company Secretary                +44 0207 264 4366     
                                                                                  
 Cantor Fitzgerald Europe  Broker to Cadogan Petroleum plc                        
 David Porter                                               +44 (0) 20 7894 7000  



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