14 Jan 2013 07:00
Exillon Energy plc
Receipt of EGM Requisition
14 January 2013
14 January 2013 - Exillon Energy plc (EXI.LN), a London Premium listed independent oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), announces that it has received a letter from Worldview Capital Management ("Worldview") calling for an Extraordinary General Meeting.
A holder of in excess of 10 per cent of our issued share capital has the right to call such a meeting. Worldview itself does not hold such number of shares and so does not itself have this right. Nevertheless, we will facilitate the convening of the meeting. We understand that Worldview manages a Cayman-registered fund which beneficially owns approximately 11 per cent of our shares. In addition, we understand that Worldview has a Voting Rights Agreement over approximately 2% of our shares.
The stated purpose of the EGM is for the consideration of the following ordinary resolutions:
• THAT David Herbert (our Chairman) be removed as a director.
• THAT Yves Merer be appointed as a director.
• THAT James Dewar be appointed as a director.
• THAT Andrey Kruglykhin be appointed as a director.
Unless the requisition is withdrawn, we will send a notice to shareholders convening the meeting. Shareholders should take no action at this point; rather they should wait for the notice convening the meeting and setting out full details of the resolutions being proposed. We will make a further announcement in due course.
We have engaged extensively with Worldview both before and since they became a notifiable shareholder in June 2012. All the matters raised by them are public information, and in most cases have been public information for over a year.
Media details:
Tom Blackwell +44 207 920 2330 / +7 919 102 9064