EGM Statement

25 Jan 2007 07:02

Cardinal Resources plc25 January 2007 QVT REQUISITION FOR EGM LONDON -25 January 2007 Cardinal Resources plc (AIM:CDL) ("Cardinal" or "the Company"), an independentoil and gas production and exploration company operating in Ukraine, todayannounces that it has received a requisition from Vidacos Nominees Limited,acting as nominee and on the instructions of Deutsche Bank in its capacity asprime broker for QVT Fund LP ("QVT"), to convene an extraordinary generalmeeting (an "EGM"). QVT, as a shareholder holding more than ten percent, isproposing to remove Robert J. Bensh as director, chairman and chief executiveofficer of Cardinal and to replace him with Igor Effimoff as director and chiefexecutive officer of the Company. QVT first announced by way of press release on 27 November 2006 that it wouldformally request an EGM. Shareholders will receive further notification in due course. ### For further information please contact: Cardinal Resources BrunswickCharles Green / Franziska Stahlknecht Paul Scott+44 (0) 20 7936 5250 +44 (0) 20 7404 5959investor.relations@cardinal-uk.com cardinal@brunswickgroup.com Nominated AdviserNabarro Wells & Co. LimitedJohn Wilkes / Marc Cramsie+44 (0) 20 7710 7400cardinal@nabarro-wells.co.uk Notes to Editor Cardinal Resources plcCardinal Resources plc is an independent oil and gas production and explorationcompany with assets in Ukraine. Cardinal is an experienced operator in thecountry focused on expanding its existing operations through the farm-in oracquisition of additional upstream oil and gas assets that can be furtherdeveloped through the application of modern technology and expertise. ### This release may contain certain forward-looking statements. These statementsrelate to future events or future performance and reflect management'sexpectations regarding Cardinal's growth, results of operations, performance andbusiness prospects and opportunities. Such forward-looking statements reflectmanagement's current beliefs, are based on information currently available tomanagement and are based on reasonable assumptions as of this date. Noassurance, however, can be given that the expectations will be achieved. Anumber of factors could cause actual results to differ materially from theprojections, anticipated results or other expectations expressed in thisrelease. While Cardinal makes these forward-looking statements in good faith,neither Cardinal, nor its directors and management, can guarantee that theanticipated future results will be achieved. This information is provided by RNS The company news service from the London Stock Exchange