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7 Sep 2015 17:30
Dublin
7 September 2015
Petroceltic International plc
Results of Extraordinary General Meetings
Petroceltic International plc ("Petroceltic" or the "Company"), the oil and gas exploration, development and production company announces the results of the resolutions proposed at the two Extraordinary General Meetings held earlier today as follows:
The first September EGM Resolutions 1 and 2 were special resolutions requiring 75% of votes to pass; the Board recommended that shareholders vote for these resolutions. The second September EGM resolution 1 was an ordinary resolution proposed on behalf of Worldview Capital Management SA; the board recommended that shareholders vote against the resolution. The EGMs were not attended by Worldview or its representatives.
The results were as follows:
VOTESFOR | % | % ISC | VOTESAGAINST | % | % ISC | VOTESTOTAL | % of ISC VOTED | VOTESWITHHELD | |
First EGM Res 1- To amend the Memorandum of Association of the Company. | 90,353,255 | 58.58 | 42.20 | 63,873,137 | 41.42 | 29.84 | 154,226,392 | 72.04% | 1,693 |
First EGM Res 2- To adopt revised Articles of Association of the Company, including to limit existing borrowing powers delegated to Directors. | 90,130,466 | 58.44 | 42.10 | 64,093,487 | 41.56 | 29.94 | 154,223,953 | 72.04% | 3,967 |
Second EGM Res 1- To not approve of any sale or disposal of any assets by the Company or any of its subsidiaries, where such assets would represent 25% or more of the Company's revenues, profits or reserves unless the prior approval of the Company's members in a general meeting is first obtained. | 64,328,098 | 41.83 | 30.04 | 89,440,108 | 58.17 | 41.78 | 153,768,206 | 71.82% | 6,802,834 |
In summary, none of the resolutions proposed were passed.
Ends
For further information, please contact:
Brian O' Cathain /Tom Hickey, Petroceltic International Tel: +353 (1) 421 8300
Alasdair Robinson, Company Secretary Tel: +44 131 221 3360
James Henderson / Rollo Crichton-Stuart, Bell Pottinger Tel: +44 (20) 3772 2500
Douglas Keatinge / Joe Heron, Murray Consultants Tel: +353 (1) 498 0300
John Frain / Roland French, Davy Tel: +353 (1) 679 6363
Notes to Editors:
Petroceltic International plc is a leading Oil and Gas Exploration and Production Company focused on North Africa, the Mediterranean and Black Sea regions, and listed on the London Stock Exchange's AIM Market and the Irish Stock Exchange's ESM Market. The Company has production, exploration and development assets in Algeria, Egypt, Bulgaria and Italy.
Unless the context otherwise requires, defined terms used in this announcement shall have the meanings given to them in the circulars to shareholders of the Company dated 4 August 2015 and 13 August 2015, a copy of which is available on the Company's website at www.petroceltic.com
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