24 Jul 2017 15:01
FOR IMMEDIATE RELEASE 24 July 2017
SOLO OIL PLC
("Solo" or the "Company")
Result of Annual General Meeting
Revised Investing Policy
Share Consolidation
Total Voting Rights
The Board of Solo is pleased to announce that at the Annual General Meeting ("AGM") of the Company held earlier today, all resolutions were passed to include an update to the investment policy of the Company and a share consolidation.
Revised Investing Policy
The Company's Investing Policy is to acquire a diverse portfolio of direct and indirect interests in exploration, development and production oil and gas assets, and any other subsurface gas assets of potential commercial significance, located worldwide but predominantly in the Americas, Europe or Africa.
Share Consolidation
The number of shares in issued will be reduced on the basis of 20 existing existing ordinary share will be consolidated into one new ordinary share of 0.20p ("New Ordinary Share").
Application has been made for the 392,337,801 New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to commence at 08.00 on 25 July 2017.
The New Ordinary Shares will have the ISIN: GB00BF1BK408
Total Voting Rights
The above figure of 392,337,801 New Ordinary Shares with voting rights 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 to their interest in, the share capital of the Company under the Financial Conduct Authority;s, Disclosure and Transparency Rules.
For further information:
Solo Oil plc Neil Ritson / Dan Maling | +44 (0) 20 3794 9230 |
Beaumont Cornish Limited Nominated Adviser and Joint Broker Roland Cornish | +44 (0) 20 7628 3396 |
Shore Capital Joint Broker Jerry Keen
Beaufort Securities Joint Broker Jon Belliss
Buchanan (PR) Ben Romney / Chris Judd / Henry Wilson |
+44 (0) 20 7408 4090
+44 (0) 20 7382 8300
+44 (0) 20 7466 5000 |