5 May 2017 15:35
5 May 2017
JKX OIL & GAS PLC
("JKX" or "the Company")
S 338 Request
Further to the announcement on 20 April 2017 in relation to the request from Eclairs Group Limited (a member of the Company holding 27.5 percent of the total voting shares) ("Eclairs") to propose an ordinary resolution at the next Annual General Meeting to appoint Mr Michael Bakunenko as a director of the Company, the Company has today received a further request from Eclairs for ordinary resolutions to be proposed at the next Annual General Meeting to remove all seven of the current Directors of the Company.
Read together, these requests appear to indicate that Eclairs' aim is for Mr Bakunenko to be appointed as the sole director of the Company, a scenario which would leave the Company in breach of both the Companies Act and its constitutional documents.
The Board is seeking advice as to what recommendations should be put to shareholders in response to these requests and will revert in due course. In the meantime, shareholders should take no further action.
This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.
ENDS
JKX Oil & Gas plc +44 (0) 20 7323 4464
Russell Hoare, Chief Financial Officer
Stockdale Securities +44 (0) 20 7601 6100
Robert Finlay, Daniel Harris
EM Communications +44 (0) 20 3709 5711
Stuart Leasor, Jeroen van de Crommenacker