11 Jun 2012 07:00
11 June 2012
Andes Energia plc
("Andes" or the "Company")
Posting of Circular
Further to the announcement of 28 February 2012, the Company is pleased to announce that a circular ("Circular") has been posted to shareholders and warrantholders outlining the plans for the demerger of the Company's Electricity Business into a new entity, Andina plc. It is expected that Andina plc will seek admission to trading on AIM in the near future.
The Circular includes a Notice of General Meeting of Shareholders to be held at the offices of Nabarro LLP at Lacon House, 84 Theobald's Road, London WC1X 8RW at 11.00 a.m. on 25 June 2012, to consider and, if deemed fit, approve the proposed Demerger, together with the Capital Reorganisation, the Capitalisation and the Court approved Reduction of Capital required to effect the Demerger. The Circular also contains notices of four separate Warrantholder Meetings to be held at the offices of Nabarro LLP at Lacon House, 84 Theobald's Road, London WC1X 8RW on 2 July 2012 to consider and, if deemed fit, approve the Reduction of Capital required to effect the Demerger.
A copy of the Circular is available on the Andes website at www.andesenergiaplc.com.ar .
Capitalised terms used in this announcement are defined in Circular, unless the context requires otherwise.
For further information please contact:
Andes Energia plc | Luis Alvarez Poli, CEO Nigel Duxbury, FD
| T: +442074955326 |
Westhouse Securities | Antonio Bossi Jonathan Haines
| T: +44206016100 |
Buchanan
| Tim Thompson Ben Romney | T: +442074665000 |
Note to Editors:
Andes is a Latin American energy group, with oil and gas, electricity distribution and hydro-electric power interests in Argentina. The Company's focus is on the Argentinean energy sector, which it believes offers premium assets at undervalued prices.