Shareholder Meetings Update

Petroneft Resources

09/05/2014 15:54

RNS Number : 7633G

Petroneft Resources PLC

09 May 2014

 



9 May 2014

PetroNeft Resources plc

("PetroNeft" or the "Group" or the "Company")

 

Shareholder Meetings Update

 

PetroNeft (AIM: PTR) owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to announce the results of the polls at the two Extraordinary General Meetings held in Dublin earlier today.

 

EGM to approve farmout of 50% of Licence 61 to Oil India Limited                                                             

RESOLUTION
VOTES
FOR
%
VOTES
AGAINST
%
VOTES
TOTAL
1
381,069,387
99.60
1,536,158
0.40
382,605,545

 

EGM requisitioned by Natlata

RESOLUTION
VOTES
FOR
%
VOTES
AGAINST
%
VOTES
TOTAL
1
121,891,615
25.02
365,347,978
74.98
487,239,593
2
117,732,866
24.71
358,639,897
75.29
476,372,763
3
121,848,615
25.01
365,390,978
74.99
487,239,593
4
112,051,963
23.52
364,320,800
76.48
476,372,763
5
118,974,562
24.98
357,398,201
75.02
476,372,763
6
118,620,362
24.92
357,422,401
75.08
476,042,763
7
111,826,422
23.47
364,546,341
76.53
476,372,763
8
110,707,585
23.24
365,665,178
76.76
476,372,763
9
111,401,110
23.39
364,971,653
76.61
476,372,763
10
118,247,383
24.82
358,125,380
75.18
476,372,763
11
118,264,842
24.83
358,107,921
75.17
476,372,763
12
122,656,399
25.17
364,583,194
74.83
487,239,593
13
111,885,769
23.49
364,481,994
76.51
476,367,763
14
110,971,785
23.30
365,385,978
76.70
476,357,763
15
111,290,545
23.37
365,022,218
76.63
476,312,763

 

David Golder, Chairman of PetroNeft Resources plc, commented:

"Today was a very important day for PetroNeft.  The Board has proposed a strategy for the next phase of the company's development which has been overwhelmingly supported by the shareholders today.  Of approximately 850 individual shareholders voting, more than 810 shareholders supported the Board's recommendations. This gives us a mandate to conclude the farm out with Oil India and to progress the development of our asset, debt free and with a fully funded US$45m work programme. We look forward to working with a great new partner, Oil India Limited, in developing the significant potential in Licence 61."

 

 

For further information, contact:

Dennis Francis, CEO, PetroNeft Resources plc
+353 1 443 3720
Paul Dowling, CFO, PetroNeft Resources plc
+353 1 443 3720
John Frain/Brian Garrahy, Davy (NOMAD and Joint Broker)
+353 1 679 6363
Henry Fitzgerald-O'Connor, Canaccord Genuity Limited (Joint Broker)
+44 207 523 8000
Martin Jackson, Citigate Dewe Rogerson
+44 207 638 9571
Joe Murray/Joe Heron, Murray Consultants
+353 1 498 0300

 

This information is provided by RNS

The company news service from the London Stock Exchange

 
  END
 

 
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