28 Jan 2016 10:05
JKX OIL & GAS plc ("JKX" or the "Company")
Extraordinary General Meeting update
The Board of JKX announced on 25 January 2016 that, following extensive enquiries pursuant to section 793 of the Companies Act 2006, it had issued notices ("Restriction Notices") to both Eclairs Group Limited ("Eclairs") and Glengary Overseas Limited (and its nominee) ("Glengary") (together the "Restricted Parties") restricting each of them from, amongst other things, voting at a general meeting of the Company.
Eclairs has submitted a claim to the English court that the Restriction Notices are not effective, and Glengary has indicated that it will do the same. An initial court hearing was held on 26/27 January 2016 to consider a request for interim relief by Eclairs, and a further court date to consider that request in more detail has been set for 8 February 2016.
The Extraordinary General Meeting ("EGM") of the Company requisitioned by Proxima Capital Group Inc. is taking place today and therefore prior to the 8 February 2016 court hearing date. Accordingly, pursuant to undertakings contained in a court order, the Company will be conducting a poll in respect of each of the resolutions to be voted on at the EGM both on the basis that the votes of the Restricted Parties' should be counted, and on the basis that those votes should not be counted. Following the EGM, the Company will announce voting figures on these two alternative bases and will also announce and record, as soon as reasonably possible, the outcome in respect of resolutions where the votes of the Restricted Parties would not have affected the result - i.e. whether such resolutions were passed or defeated. If the votes of the Restricted Parties would have affected the result, the consequences will be resolved in accordance with the order or further directions of the court.
Ends
For further information please contact:
Cardew Group T: 020 7930 0777
Anthony Cardew M: 07770 720 389
Nadja Vetter M: 07941 340 436
Emma Ruttle M: 07766 231 520