17 Apr 2013 12:38
Company Number: 07817695
ORDINARY AND SPECIAL RESOLUTIONS
OF
RUSPETRO PLC (the "Company")
Passed on 17 April 2013
At The Annual General Meeting of the Company duly convened and held atthe offices of White & Case LLP, 5 Old Broad Street, London EC2N 1DWon 17 April 2013 at 11.00 a.m., the following resolutions were duly passed as ordinary and special resolutions.
ORDINARY RESOLUTIONS
RESOLUTION 13
THAT the directors be and are hereby generally and unconditionally authorised for the purposes of section 551 of the Companies Act 2006 to exercise any power of the Company to allot and grant rights to subscribe for or to convert securities into shares of the Company:
(a) up to a maximum nominal amount of £11,112,716;
(b) comprising equity securities (as defined in the Companies Act 2006) up to a nominal amount of £22,225,432 including within such limit any shares and rights to subscribe for or convert any security into shares allotted under paragraph (a) above) in connection with an offer by way of a rights issue:
(i) to ordinary shareholders in proportion (as nearly as may be practicable) to their existing holdings; and
(ii) to holders of other equity securities as required by the rights of those securities or as the directors otherwise considers necessary, and so that the directors may impose any limits or restrictions and make any arrangements which it considers necessary or appropriate to deal with treasury shares, fractional entitlements, record dates, legal, regulatory or practical problems in, or under the laws of, any territory or other matter,
such authority to apply until the earlier of the conclusion of the Company's 2014 annual general meeting and the close of business on 30 June 2014 but, in each case, so that the Company may make offers and enter into agreements during the relevant period which would, or might, require shares to be allotted or rights to subscribe for or convert securities into shares to be granted after the authority ends and the directors may allot shares or grant rights to subscribe for or convert securities into shares under any such offer or agreement as if the authority had not ended.
SPECIAL RESOLUTIONS
RESOLUTION 14
THAT conditional upon resolution 13 being passed, the directors be given power pursuant to section 570 of the Companies Act 2006 to allot equity securities (within the meaning of Section 560 of the Companies Act 2006) for cash under the authority granted by such resolution, and/or where the allotment is treated as an allotment of equity securities under section 560(2)(b) of the Companies Act 2006 as if Section 561(1) of the Companies Act 2006 did not apply to any such allotment, such power to be limited:
(a) To the allotment of equity securities in connection with an offer of equity securities (but in the case of the authority granted under paragraph 13(b), by way of a rights issue only):
(i) To ordinary shareholders in proportion (as nearly as may be practicable) to their existing shareholdings; and
(ii) To the holders of other equity securities, as required by the rights of those securities, or as the directors otherwise consider necessary,
and so that the directors may impose any limits or restrictions and make any arrangements which it considers necessary or appropriate to deal with treasury shares, fractional entitlements, record dates, legal, regulatory or practical problems in, or under the laws of, any territory or other matter; and
(b) in the case of the authority granted under paragraph 13(a) of resolution 13 and/or in the case of a transfer of treasury shares which is treated as an allotment of equity securities under section 560(2)(b) of the Companies Act 2006, to the allotment (otherwise than under paragraph 14(a) of this resolution) of equity securities up to a nominal amount of £1,666,907.40,
such authority to expire at the conclusion of the next annual general meeting or, if earlier, the close of business on 30 June 2014, unless previously renewed, varied or revoked by the Company, save that the Company may make offers and enter into agreements during the relevant period which would, or might, require shares to be allotted or rights to subscribe for or convert securities into shares to be granted after the authority ends and the directors may allot shares or grant rights to subscribe for or convert securities into shares under any such offer or agreement as if the authority had not ended.
RESOLUTION 15
THAT the Company be generally and unconditionally authorised for the purposes of section 701 of the Companies Act 2006 to make one or more market purchases (within the meaning of section 693(4) of the Companies Act 2006) of ordinary shares of £0.10 each in the capital of the Company, subject to the following restrictions and provisions:
(a) The maximum number of ordinary shares hereby authorised to be purchased is 33,338,148;
(b) The minimum price which may be paid for any such ordinary share is £0.10;
(c) The maximum price, exclusive of expenses, which may be paid for any such ordinary share shall be the higher of (i) the amount equal to 105 per cent of the average of the closing middle market quotations for an ordinary share (as derived from the London Stock Exchange Daily Official List) for the five business days immediately preceding the day on which the ordinary share is purchased and (ii) the amount stipulated by article 5(1) of the Buy-back and Stabilisation Regulations 2003 (in each case exclusive of expenses;) and
(d) The authority hereby conferred shall, unless previously revoked or varied, expire at the conclusion of the next annual general meeting of the company to be held in 2014, or if earlier, the close of business on 30 June 2014 save in relation to purchases of ordinary shares the contract for which was concluded before the expiry of this authority and which will be executed wholly or partly after such expiry, where the Company may make a purchase of ordinary shares in pursuance of such contract.
RESOLUTION 16
THAT a general meeting of the Company, other than an annual general meeting, may be called on not less than 14 clear days' notice.
Enquiries
Investors / Analyst enquiriesDominic Manley, Ruspetro+44 207 318 1265
MediaPatrick Handley / Catriona McDermott, Brunswick+44 207 404 5959
About Ruspetro
Ruspetro plc is an independent oil & gas development and production company, listed on the premium segment of the London Stock Exchange (LSE: RPO). The Company's operations are located on three contiguous licence blocks in the middle of the Krasnoleninsk Arch in Western Siberia. Ruspetro assets include proved and probable (2P) reserves of over 1.8 billion barrels of oil equivalent.