REG - Lansdowne Oil & Gas - Result of General Meeting

Lansdowne Oil & GasAnnouncement

29/12/2023 10:30

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RNS Number : 2175Y  Lansdowne Oil & Gas plc  29 December 2023

 

29 December 2023

Lansdowne Oil & Gas plc

("Lansdowne" or the "Company")

Result of General Meeting, Share Capital Reorganisation & Admission of
Conditional Placing Shares

 

Lansdowne is pleased to confirm that at the Company's General Meeting held
earlier today, all resolutions were duly passed.  Full details of the
resolutions are set out in the Notice of General Meeting dated 8 December 2023
and available on the Company's website at:

 

https://www.lansdowneoilandgas.com/portfolio-item/lansdowne-circular/
(https://www.lansdowneoilandgas.com/portfolio-item/lansdowne-circular/)

 

 

The proxy votes cast were as follows:

 Resolution                          For                  Against              Abstain
 1.    Approve Share Capital         296,427,906  99.91%  273,565       0.09%  0
 2.    Allot Equity Securities       296,427,906  99.91%  273,565       0.09%  0
 3.    Allot Equity Securities 2     296,427,906  99.91%  273,565       0.09%  0
 4.    Pre-emption Rights            296,427,906  99.91%     273,565    0.09%  0
 5.    Pre-emption Rishts 2          296,427,906  99.91%     273,565    0.09%  0
 6.    Adoption of New Articles      296,429,156  99.91%     272,315    0.09%  0

 

Conditional Placing

As detailed in the Company's announcement of 7 December 2023 and following the
passing of resolutions at today's General Meeting, 160,000,000 new ordinary
shares of 0.01 pence each in the Company raising an additional £160,000 will
be admitted to trading on 02 January 2024 (the "Placing Shares").

Share Capital Reorganisation

Following the passing of the resolutions at the General Meeting, each of the
Company's 1,233,618,337 Existing Ordinary Shares will be sub-divided into one
New Ordinary Share of 0.01p (the "New Ordinary Shares") and one deferred share
of 0.09p ("New Deferred Shares"). The New Deferred Shares will have little
economic value as they will not carry any rights to vote or dividend rights,
although the New Deferred Shares will rank pari passu with the New Ordinary
Shares on a return of capital or on a winding up of the Company.

 

Admission to AIM and Total Voting Rights

Dealings on AIM in the Existing Ordinary Shares is expected to cease at the
close of business on 29 December 2023.

Application has been made for the admission of 1,233,618,337 New Ordinary
Shares and 160,000,000 Placing Shares to trading on AIM ("Admission") and it
is expected that Admission will take place and that trading in the New
Ordinary Shares will commence at 8.00 a.m. on or around 2 January 2024. No
application will be made for admission of the New Deferred Shares to trading
on AIM nor will any such application be made to any other exchange.

Following Admission, there will be a total of 1,393,618,337 New Ordinary
Shares, with voting rights, in issue. The Company does not hold any shares in
treasury. Consequently, 1,393,618,337 is the figure which may be used by
shareholders as the denominator for the calculation by which they will
determine if they are required to notify their interest in, or a change to
their interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.

Unless otherwise indicated, all defined terms in this announcement shall have
the same meaning as described in the Company's announcement dated 7 December
2023 and the Circular which was posted to shareholders shortly thereafter.

 

 

For further information please contact:

 Lansdowne Oil & Gas plc               +353 1 963 1760
 Steve Boldy

 SP Angel Corporate Finance LLP        +44 (0) 20 3470 0470
 Nominated Adviser and Joint Broker
 Stuart Gledhill
 Richard Hail

 Charlie Bouverat

 Tavira Financial Limited              +44 (0) 20 3192 1739
 Joint Broker
 Oliver Stansfield

 

 

Notes to editors:

 

About Lansdowne

Lansdowne Oil & Gas (LOGP.LN) is an oil and gas exploration and appraisal
company, focused on the North Celtic Sea and  quoted on the AIM market and
head quartered in Dublin.

In May 2023, the application for a Lease Undertaking for the Barryroe Field,
in which Lansdowne held a 20% interest, was refused by the Irish Department of
the Environment, Climate and Communications.

In June 2023, Lansdowne announced the commencement of action under the
Arbitration Process of the Energy Charter Treaty.

Since 20 September 2023, Lansdowne has been designated a "Cash-Shell" under
AIM Rule 15.

 

 

For more information on Lansdowne, please refer to www.lansdowneoilandgas.com
(http://www.lansdowneoilandgas.com) .

 

 

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