REG - Scirocco Energy PLC - Requisition of General Meeting

Scirocco EnergyAnnouncement

06/02/2024 07:00

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RNS Number : 0955C  Scirocco Energy PLC  06 February 2024

 6 February 2024

Scirocco Energy plc

("Scirocco Energy" or "the Company")

Requisition of General Meeting

Scirocco Energy (AIM: SCIR), the AIM investing company targeting
attractive assets within the European sustainable energy and circular
economy markets, announces that it has received a letter dated 2 February
2024 from Forest Nominees Limited - which is the legal holder of 78,978,978
shares in the Company which are held as nominee on behalf of G.P. (Jersey)
Limited - requesting the Company to convene a general meeting of the Company's
shareholders pursuant to section 303 of the Companies Act 2006 (the "Act").

The Company can confirm it is subject to the requirement pursuant to section
304 of the Act to call a general meeting within 21 days of receipt of a valid
requisition (such validity having been confirmed yesterday) and to hold such a
general meeting on a date not more than 28 days after the date of the notice
convening such general meeting.

The board of directors intends to comply with its obligations in accordance
with section 304 of the Act and a circular convening the general meeting will
be posted to Shareholders no later than 23 February 2024.

The single proposed resolution relates to a request for the Directors to put
in place a strategy to distribute cash proceeds from the sale of assets to
shareholders. The full text of the above proposed resolution will be set out
in the circular.

As previously stated, the Board continues its review of a range of potential
alternatives available to it by which it is able to deliver value to
Shareholders, which may include the distribution of available cash, further
investments in line with its investing policy and/or the deployment of the
proceeds in pursuit of a reverse takeover transaction. The circular will
contain an update on the board's review of these strategic options and voting
recommendation.

Shareholders are advised to take no action at this time. Further announcements
will be made in due course.

 

For further information:

 Scirocco Energy plc                               +44 (0)20 7466 5000

 Tom Reynolds, CEO

 Strand Hanson Limited, Nominated Adviser          +44 (0) 20 7409 3494

 Ritchie Balmer / James Spinney / Robert Collins
 WH Ireland Limited, Broker                        +44 (0) 207 220 1666

 Harry Ansell / Katy Mitchell
 Buchanan, Financial PR                            +44 (0)20 7466 5000

 Ben Romney / Barry Archer / George Pope

 

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