21 May 2018 11:28
21 May 2018
Rose Petroleum plc
("Rose", the "Company" or the "Group")
Result of general meeting and Total Voting Rights
Rose Petroleum plc (AIM: ROSE), the AIM quoted natural resources business, is pleased to announce that at its general meeting held earlier today, all resolutions were duly passed.
Accordingly, pursuant to the Placing announced on 2 May 2018, the Second Placing Shares are expected to be admitted to trading on AIM tomorrow, 22 May 2018 ("Admission"), to complete the Placing.
Total Voting Rights
With effect from Admission, the Company's total issued Ordinary Share capital will consist of 143,413,940 Ordinary Shares, with one voting right per share. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 143,413,940 from Admission. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company pursuant to the FCA's Disclosure Guidance and Transparency Rules.
Defined terms used in this announcement have the same meaning as in the Company's announcement on 2 May 2018, unless the context requires otherwise.
Enquiries:
Matthew Idiens (CEO) Chris Eadie (CFO)
| Rose Petroleum plc | Tel: +44 (0) 20 7225 4595 Tel: +44 (0) 20 7225 4599 |
Jeremy Porter / James Reeve / Liz Kirchner
| Allenby Capital Limited
| Tel: +44 (0) 20 3328 5656
|
Andy Thacker
| Turner Pope Investments | Tel: +44 (0)20 3621 4120 |
Media enquiries:
Peter Curtain
| Allerton Communications | Tel: +44 (0) 20 3633 1730 peter.curtain@allertoncomms.co.uk |
Notes to editors
Rose Petroleum plc (http://rosepetroleum.com) is a North America-focused oil and gas company whose primary asset is approximately 80,000 acres in the oil and gas producing Paradox Basin in Utah, U.S.A., where it is earning into a 75% working interest. Using high-quality data gathered in a 3D seismic survey completed in October 2017, the Company has identified drilling locations in naturally fractured areas of the Paradox clastics formation with the intention of commencing a drilling programme in H2 2018, once necessary permits and funding have been secured.
The Company's established management is supported by an expert technical team with extensive experience of the basin, where current operations nearby have proven successful, with significant initial production rates and low decline rates, offering strong economics even in the present oil price environment.
The Company's strategy is to grow both organically and through acquisition, identifying additional hydrocarbon assets, conventional or unconventional, that would benefit from the Company's fast-acting, entrepreneurial approach.
Rose Petroleum has been quoted on AIM since June 2004.