25 Jan 2016 07:00
JKX Oil & Gas plc ("JKX" or the "Company")
The Board of JKX announces that, following extensive enquiries pursuant to section 793 of the Companies Act 2006, JKX has issued notices to both Eclairs Group Limited ("Eclairs") and Glengary Overseas Limited (and its nominee) ("Glengary") restricting each of them, amongst other things, from attending or voting at a general meeting of the Company.
These enquiries were made in the interest of all shareholders to determine the ownership structures behind and the voting agreements or arrangements relating to the 27.47 per cent. of the issued share capital of JKX held by Eclairs and the 11.42 per cent. of the issued share capital of JKX held by Glengary (through its nominee). Despite continuing efforts, the Board considers that it has not been able to ascertain full and accurate particulars of the relevant structures and agreements or arrangements.
The restriction notices have been issued in accordance with JKX's articles of association because the Board believes, and considers that it has reasonable cause to believe, that the information provided by Eclairs and Glengary (and their respective ultimate interest holders) in response to disclosure notices is false or materially incorrect. The Board considers that this action is appropriate in order to extract full and accurate information, to protect the Company and its shareholders against having to make decisions in ignorance of such information and as a sanction for failure to provide full and accurate information. The Board further considers that the imposition of restrictions is in the best interests of the Company and its shareholders as a whole.
1. JKX's issued share capital comprises of 172,125,916 ordinary shares of £0.10 each, each with one vote.
2. 402,771 ordinary shares of £0.10 each are held in treasury. These shares are not taken into consideration in relation to the payment of dividends and voting at shareholder meetings.
3. The total number of current voting rights in JKX is 104,779,774. This figure may be used by shareholders (and others with notification obligations) as the denominator for the calculation by which they may determine, if required, their interest in, or a change to their interest in, JKX under the Disclosure and Transparency Rules.
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