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Pin to quick picksUK Oil & Gas Regulatory News (UKOG)

Share Price Information for UK Oil & Gas (UKOG)

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Notice of General Meeting Resumption

23 Feb 2024 13:01

RNS Number : 3136E
UK Oil & Gas PLC
23 February 2024
 

UK Oil & Gas PLC

("UKOG" or the "Company")

 

Notice of General Meeting Resumption

 

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the General Meeting ("GM") which was adjourned on Friday 16th February, will now be reconvened at 1100 hrs on Tuesday 5th March 2024 at 8th Floor, The Broadgate Tower, 20 Primrose Street, London EC2A 2EW ("Reconvened GM").

Please note that valid proxy instructions that were submitted for the GM of 16th February 2024 will remain valid for the Reconvened GM and shareholders who have already voted via proxy do not need to submit a new proxy unless they wish to change how their proxy should vote. Proxy forms for the Reconvened GM may be submitted up to 11 a.m. on 1st March 2024. Proxy forms must be submitted in accordance with the instructions set out in the form of proxy set out in the notice of the Reconvened GM dated today.

The notice of the Reconvened GM will be made available on the Company's website at and hard copies www.ukogplc.com will today be posted to shareholders.

The Company notes queries from shareholders in relation to the deferred B shares. The deferred B shares are being created solely as an established method to facilitate the capital reorganisation, consent for which is sought by Resolutions 1, 2 and 4. The capital reorganisation seeks to reduce the number of shares to a more manageable level, to satisfy certain obligations owed by the Company under the funding facility agreement as announced on 28 June 2023 and to reset the nominal share value so as not to hinder the future issue of new shares should the share price be below the current nominal value. The Company confirms that the deferred B shares will have no economic value, no voting rights and will not be admitted to trading. The Company will seek to cancel the deferred B shares in the future subject to such cancellation being permitted and it being cost effective to do so.

Resolutions 3 and 5 are being proposed at the Reconvened GM to allow the Company to raise funds this year to deliver its stated strategy and growth objectives, which include progressing both the material Loxley gas development and the strategic Portland hydrogen storage project, one of the largest planned in the UK. Failure to carry resolutions 3 and 5 will, therefore, mean that the Company will not be able to fully implement its operational and growth strategy.

The Directors therefore seek specific shareholder approval for authority to undertake the necessary capital reorganisation, issue shares and dis-apply pre-emption rights in respect of those shares in order that the Company can raise money for its working capital obligations.

The result of the Reconvened GM will be announced shortly after its conclusion and published on the UKOG website.

For further information, please contact:

UK Oil & Gas plc

Stephen Sanderson / Guzyal Mukhametzhanova Tel: 01483 941493

 

WH Ireland Ltd (Nominated Adviser and Broker)

James Joyce / Andrew de Andrade / James Bavister Tel: 020 7220 1666

 

Communications

Brian Alexander Tel: 01483 941493

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
NOGSESFDDELSESE
Date   Source Headline
17th Sep 20247:00 amRNSBoard Appointment
9th Sep 20247:00 amRNSSolent Cluster Hydrogen Storage LOS
21st Aug 202412:11 pmRNSResult of General Meeting
21st Aug 20247:00 amRNSSecond Dorset hydrogen storage site
8th Aug 20247:00 amRNSResults of Retail Offer
5th Aug 20244:28 pmRNSNotice of GM
5th Aug 20242:11 pmRNSEmployee Benefit Trust Share Subscription
5th Aug 20248:39 amRNSRetail Offer
5th Aug 20247:00 amRNSPlacing and Retail Offer to fund hydrogen storage
2nd Aug 20247:00 amRNSRWE Letter of Support for UKEn Hydrogen Storage
29th Jul 202411:36 amRNSHolding(s) in Company
26th Jul 20247:00 amRNSHolding(s) in Company
25th Jul 20247:00 amRNSConvertible loan fully repaid
22nd Jul 20244:24 pmRNSHolding(s) in Company
18th Jul 20244:33 pmRNSHolding(s) in Company
15th Jul 20247:00 amRNSChange of Nominated Adviser and Broker
10th Jul 20247:00 amRNSPlacing and termination of convertible loan
28th Jun 202412:27 pmRNSUnaudited results for six-month ended 31 Mar 2024
28th Jun 20247:00 amRNSD&M Horndean Field Resource Report
27th Jun 20247:00 amRNSDorset Hydrogen Storage: SGN LOS
21st Jun 20241:15 pmRNSLoan Reduction Update
20th Jun 202410:20 amRNSHorse Hill Update
12th Jun 202412:49 pmRNSLoan Reduction Update
4th Jun 20247:00 amRNSLoan Reduction Update
29th May 202412:10 pmRNSResult of AGM
29th May 20247:00 amRNSHydrogen Storage Project update: Sumitomo LOS
17th May 20247:00 amRNSLoan Reduction Update
3rd May 20244:28 pmRNSNotice of Annual General Meeting
3rd May 20247:00 amRNSEmployee Benefit Trust Share Subscription
2nd May 20247:00 amRNSLoan Reduction Update
1st May 20247:00 amRNSLoxley Gas Project Update
19th Apr 202411:59 amRNSLoan Reduction via Equity Share Subscription
2nd Apr 20247:00 amRNSAnnual Report for the year ended 30 September 2023
27th Mar 20247:00 amRNSLoxley Gas Project Update
19th Mar 20245:00 pmRNSBroadford Bridge Planning Update
13th Mar 20249:29 amRNSLoan Reduction via Equity Share Subscription
5th Mar 20243:28 pmRNSResult of Reconvened General Meeting
1st Mar 20247:00 amRNSRevised Timetable for Capital Restructuring
23rd Feb 20241:01 pmRNSNotice of General Meeting Resumption
22nd Feb 20244:37 pmRNSEmployee Benefit Trust Share Subscription
16th Feb 20241:54 pmRNSGeneral Meeting Adjournment
2nd Feb 20242:08 pmRNSPinarova-1 Testing Operations Update
1st Feb 20241:53 pmRNSProposed Capital Reorganisation
23rd Jan 20243:48 pmRNSLoan Balance Reduction via Equity Share Issue
23rd Jan 20247:00 amRNSPinarova-1 Testing Operations Commence
12th Jan 20247:00 amRNSSuccessful Placing
11th Jan 20247:00 amRNSTurkey: Pinarova-1 Testing
10th Jan 202411:39 amRNSEquity Share Issue and Reduction in Loan Balance
9th Jan 20242:00 pmRNSCourt of Appeal Upholds Loxley Planning Consent
3rd Jan 20241:04 pmRNSTurkey: Pinarova-1 Operations Re-Commence

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