REG - Europa Oil & Gas - Withdrawal of AGM Resolutions

Europa Oil & Gas (Holdings)Announcement

23/11/2023 07:00

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RNS Number : 3648U  Europa Oil & Gas (Holdings) PLC  23 November 2023

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil
& Gas

 

23 November 2023

 

Europa Oil & Gas (Holdings) plc

("Europa" or "the Company")

 

Withdrawal of AGM Resolutions

 

The Board of Europa announces that it has decided to withdraw Resolutions 3,
4, 7 and 8 from the agenda of the annual general meeting ("AGM") of the
Company's shareholders, to be held at The Hellenic Centre, 16-18 Paddington
Street, London W1U 5AS at 11.00 a.m. (UK time) this morning.

 

Resolution 3 was to re-elect Mr Stephen Williams as a director, and resolution
4 to re-elect Mr Simon Oddie as a director. These directors were retiring
under the one-third rotation provision of the Company's articles of
association. Following consultations with shareholders, these directors have
withdrawn their candidacy for re-election, and the Board has agreed to
withdraw these resolutions. Consequently, Messrs Oddie and Williams will no
longer be directors of the Company at the close of the AGM.

 

Resolution 7 proposed the authority to allot equity securities on a
pre-emptive basis with adjustments to statutory pre-emption requirements to
deal with fractional entitlements and overseas legal requirements. Resolution
8 proposed the authority to allot equity securities for cash on a
non-pre-emptive basis up to a maximum nominal value of 10 per cent of the
issued share capital. The Board proposed these special resolutions as it
considered the flexibility afforded by these authorities to be in the best
interests of the Company.

 

Since the publication of the notice of AGM, some of the Company's shareholders
have expressed concerns about these special resolutions. Given that the
Company has no plans to raise additional capital, and therefore may not need
this additional flexibility, the Board has decided to withdraw resolutions 7
and 8 from the agenda of the AGM and will seek authorities in respect of
specific transactions as and when applicable.

 

The withdrawal of Resolutions 3, 4, 7 and 8 does not affect the validity of
the notice of AGM, the proxy form, or any votes submitted in respect of the
remaining resolutions to be proposed at the AGM. Arrangements for the AGM are
unchanged from those previously notified, as are the numbering of the
remaining resolutions at the AGM.

 

Brian O'Cathain, Chairman of Europa, said:

"I would like to offer my sincere thanks to both Simon Oddie and Stephen
Williams for their invaluable service and advice on the board. In particular,
I'd like to thank Simon who has been on the Europa board since 2018 and served
as Chairman during 2018-2019, and as Chief Executive Officer from 2020 until
earlier this year. Simon and Stephen have made a significant contribution to
the development of the company, and I would like to record our sincere thanks
and best wishes for their future endeavours."

 

* * ENDS * *

Notes

For further information please visit www.europaoil.com or contact:

 

 William Holland / Louise Armstrong                Europa Oil & Gas      mail@europaoil.com
 James Dance / James Spinney                       Strand Hanson         +44 (0) 20 7409 3494
 Peter Krens                                       Tennyson Securities   +44 (0) 20 7186 9033
 Patrick d'Ancona / Finlay Thomson / Kendall Hill  Vigo Consulting       +44 (0) 20 7390 0230

 Shareholder Helpline                              Computershare         +44 (0) 370 889 4072

 

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