Last checked at 17 Mar 2017 16:52
17 March 2017
Bowleven plc ('Bowleven' or 'the Company')
Requisition of General Meeting resolutions
The Board of Bowleven acknowledges receipt of a request for a General Meeting and the submission of proposed ordinary resolutions ("Resolutions") from Crown Ocean Capital P1 Limited ("COC"). Details of the Resolutions are contained below.
A detailed response will be provided prior to the General Meeting.
ENQUIRIES
For further information please contact:
Bowleven plc
Billy Allan, Chairman 00 44 131 524 5678
David Clarkson, Chief Operating Officer
Brunswick Group LLP
Patrick Handley 00 44 207 404 5959
Will Rowberry
Cenkos Securities plc (NOMAD)
Derrick Lee 00 44 131 220 6939
Neil McDonald
Proposed General Meeting Ordinary Resolutions:
1. THAT William MacDonald Allan be and is hereby removed as a director of the Company.
2. THAT Julien Balkany be and is hereby appointed as a director of the Company (with such appointment taking immediate and simultaneous effect).
3. THAT Didier Lechartier be and is hereby appointed as a director of the Company (with such appointment taking immediate and simultaneous effect).
4. THAT any person appointed as a director of the Company since the date of the requisition of the general meeting of the Company at which this resolution is proposed, and who is not one of the persons referred to in the resolutions numbered 2 to 3 (inclusive) above, be and is hereby removed as a director of the Company.
Proposed Board Composition:
COC propose that Julien Balkany and Didier Lechartier would join Chris John Ashworth, Eli Chahin and David Clarkson on the Board of Directors.
Notes to Editors:
Bowleven is an African focused oil and gas exploration group, based in Edinburgh and traded on AIM. Bowleven's vision is to build an African focused exploration and production company focused on creating and realising material value through exploration-led organic growth and niche acquisitions. Bowleven holds equity interests in two blocks in Cameroon, with one block located offshore in shallow water (operated by NewAge) and one onshore (operated by Bowleven).