Scirocco Energy PLC - Leeds, England-based oil & gas investment company - Says it has accepted a shareholders' letter demanding a general meeting on share performance. Adds that an announcement regarding the general meeting will be posted by September 15.
Says the directors have been requested to explain measures they are going to take to improve share price performance and to rethink the company's investment strategy; provide an audit trail from 2018 and explain its strategy around funding of the Ruvuma asset; reassess the strategy of any further investment in anaerobic digestion plants; seek alternative service providers to reduce overhead spending; and appoint a unnamed representative from the requisitioning shareholders to the board.
Current stock price: 0.23 pence, down 8.9% on Friday
12-month change: down 74%
By Sophie Rose; sophierose@alliancenews.com
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