ROSE.L Regulatory News (ROSE)

18 September 2017

Rose Petroleum plc

("Rose", the "Company" or the "Group")

Result of General Meeting, change of ISIN and change to total voting rights

Rose (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, shareholder approval has been given for the sale of the Company's mineral processing mill operation in San Dieguito de Arriba, Mexico and its associated assets, licenses and agreements (together, the "SDA Mill") to Magellan Gold Corporation (the "Disposal"). The Disposal remains subject to a number of closing conditions including, in addition to usual completion actions, the completion of due diligence, Magellan Gold Corporation completing an audit of the SDA Mill's financial statements, and the finalisation of the Mexican corporate restructuring to facilitate the Disposal. On the current schedule, the Disposal is expected to complete before the end of October 2017.

In addition, following the passing of the resolutions at the General Meeting, the Capital Reorganisation will take effect later today so that every 100 existing ordinary shares of 0.1p each will be consolidated and sub-divided into one new ordinary share of 0.1p each ("New Ordinary Share") and one new deferred share of 9.9p each ("New Deferred Shares"). Details of the Capital Reorganisation and the effect on shareholders were set out in the announcement and circular sent to shareholders on 1 September 2017. 

Following the Capital Reorganisation and with effect from tomorrow, the Company's ISIN for its ordinary shares of 0.1p will change to GB00BF44KY60 and the SEDOL will change to BF44KY6.

Shareholders who hold Existing Ordinary Shares in uncertificated form will have their CREST accounts credited with the New Ordinary Shares on 19 September 2017. Existing share certificates will cease to be valid and new share certificates will be despatched to those shareholders who hold their shares in certificated form on or around 3 October 2017. No share certificates will be issued in respect of the New Deferred Shares.

Total Voting Rights

With effect from tomorrow, the Company's issued ordinary share capital will comprise 37,644,709 ordinary shares of 0.1p each, with one voting right each. The Company does not hold any shares in treasury. This figure of 37,644,709 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 under the FCA's Disclosure Guidance and Transparency Rules.

Defined terms used in this announcement have the meaning as set out in the announcement of 1 September 2017 and as in the circular of the same date, unless otherwise stated.

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