REG - Challenger Energy - Notice of Annual General Meeting

Challenger EnergyAnnouncement

13/06/2025 07:05

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RNS Number : 6846M  Challenger Energy Group PLC  13 June 2025

13 June 2025

Challenger Energy Group PLC

("Challenger Energy" or the "Company")

 

NOTICE OF ANNUAL GENERAL MEETING

Challenger Energy (AIM: CEG), an Atlantic margin focused oil and gas company,
announces that the Company's Annual General Meeting ("AGM") will be held on 24
July 2025 at 11:00 a.m. British Summer Time at The Engine House, Alexandra
Road, Castletown, Isle of Man IM9 1TG. The Notice of the AGM will be posted to
the shareholders by 18 June 2025. The purpose of the AGM is to seek
shareholder approval for:

 

 Resolution One:    as an ordinary resolution, that the Directors' Report
and the Financial Statements for the year ended 31 December 2024, together
with the Independent Auditor's Report, be received.

Resolution Two:        As an ordinary resolution, that Mr. Iain
McKendrick, who retires by rotation and, being eligible, offers himself for
reappointment, be reappointed as a director of the Company.

Resolution Three:      As an ordinary resolution, that Mr. Stephen
Bizzell, who retires by rotation and, being eligible, offers himself for
reappointment, be reappointed as a director of the Company.

Resolution Four:        As a special resolution, that the existing
authority for the allotment of up to 200,000,000 new ordinary shares of 1
pence each in the capital of the Company,  pursuant to Article 6.7 of the
Company's Articles of Association, as approved by the Company at the Annual
General Meeting held on 30 July 2024, be extended from 31 December 2025 by one
year, with such authority to now expire on 31 December 2026, but otherwise on
the same terms and conditions as previously approved.

  Resolution Five:        As an ordinary resolution, that Grant Thornton
LLC of 13-18 City Quay, Dublin, D02 ED70, Ireland, be appointed as auditors of
the Company to hold office until the conclusion of the next general meeting at
which accounts are laid, and to authorise the directors to determine their
remuneration.

 

Explanatory notes in relation to Resolution Four (General Issuance Authority)

 

As has been the case for many years, the Company has in place a standing
authority for the board to issue shares, given that the board considers it
prudent to have in place an authority to enable the Company to quickly and
flexibly secure funding necessary for the development of its project
portfolio, and/or to consider transactional opportunities that may arise from
time to time. It is noted that this authority, despite being in place, was not
used in 2024, and the approval being sought is merely to extend the existing
authority.

----

The Directors consider the approval of the resolutions to be proposed at the
Annual General Meeting to be in the best interests of the Company and its
Shareholders as a whole and, accordingly, unanimously recommend Shareholders
to vote in favour of all of the resolutions, as they and their associated
parties intend to do in respect of their beneficial holdings, which in
aggregate total 19.3 million ordinary shares, representing approximately 7.74
per cent. of the current issued share capital.

 

A copy of the Notice of the Annual General Meeting will also be made available
on the Company's website https://www.cegplc.com/ (https://www.cegplc.com/) .

 

For further information, please contact:

 

 Challenger Energy Group PLC                                 Tel: +44 (0) 1624 647 882

 Eytan Uliel, Chief Executive Officer
 Zeus - Nomad and Joint Broker                               Tel: +44 (0) 20 7220 1666

 Simon Johnson/Antonio Bossi/Darshan Patel/George Duxberry
 Stifel - Joint Broker                                       Tel: +44 (0) 20 3829 5000

 Ashton Clanfield / Callum Stewart / Simon Mensley
 Gneiss Energy Limited - Financial Adviser                   Tel: +44 (0) 20 3983 9263

 Jon Fitzpatrick / Paul Weidman / Doug Rycroft
 CAMARCO                                                      Tel: +44 (0) 20 3757 4980

 Billy Clegg / Georgia Edmonds / Emily Hall
 Jonathan Paterson - Investor Relations                        Tel: +1 475 477 9401

 jonathan.paterson@harbor-access.com

 

Notes to Editors

 

Challenger Energy is an Atlantic-margin focused energy company, with a current
high-impact position in Uruguay, where the Company holds two offshore
exploration licences, totalling 19,000km(2) (gross) and is partnered with
Chevron on the AREA-OFF 1 block. Challenger Energy is quoted on the AIM market
of the London Stock Exchange and the OTCQB in the United States.

 

https://www.cegplc.com (https://www.cegplc.com/)

 

ENDS

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