(Alliance News) - Cadogan Petroleum PLC said Wednesday it has received a formal and valid notice to requisition a general meeting from shareholders, where resolutions to remove certain directors will be proposed.
The requisitioning shareholder is HSBC Global Custody Nominee UK Ltd, which is a nominee for Non-Executive Director Michel Meeus and shareholder SPF Devola SA. These two shareholder hold 43.4 million shares between each other, reflecting a 5% interest.
Resolutions to be put forward includes the removal of Non-Executive Directors Enrico Testa and Adelmo Schenato, and appoint three new directors to the board.
Cadogan Petroleum did not state when the requisitioned meeting will take place.
Shares in the oil & gas firm were up 0.1% at 6.0 pence on Wednesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Cadogan (CAD)