Petroceltic (LSE:PCI)
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RNS Number : 3070Z

Petroceltic International PLC

16 September 2015

Dublin

16 September 2015

Petroceltic International Plc

Issue of legal proceedings against Worldview to prevent unlawful EGM

SHAREHOLDERS SHOULD CONTINUE TO TAKE NO ACTION UNTIL FURTHER ADVISED

Petroceltic International plc ("Petroceltic" or "the Company"), the oil and gas exploration, development and production company focused on the North Africa, Mediterranean and Black Sea regions today announces that it has issued proceedings in the High Court of Ireland against Worldview Capital Management SA and a related party ("Worldview") seeking an injunction to prevent Worldview from proceeding with its unlawful attempt to hold an extraordinary general meeting (EGM) of Petroceltic shareholders.

These proceedings follow Worldview's refusal to withdraw its invalid notice of EGM and/or confirm to shareholders that no action should be taken concerning the invalid notice of EGM and the related form of proxy issued by Worldview.

The High Court today fixed Thursday, 24(th) of September for an expedited hearing of Petroceltic's application for an injunction.

The Board continues to strongly advise Shareholders to take no action in relation to the unlawful EGM. In particular, Shareholders should not sign any document sent by Worldview or its advisers, including the form of proxy.

Further announcements will be made as appropriate.

Ends

For further information, please contact:

   Brian O' Cathain /Tom Hickey, Petroceltic International        Tel: +353 (1) 421 8300 
   James Henderson / Rollo Crichton-Stuart, Bell Pottinger      Tel: +44 (20) 3772 2500 
   Douglas Keatinge / Joe Heron, Murray Consultants              Tel: +353 (1) 498 0300 
   John Frain / Roland French, Davy                                          Tel: +353 (1) 679 6363 

Notes to Editors:

Petroceltic International plc is a leading Upstream Oil and Gas Exploration and Production Company, focused on North Africa, Mediterranean and Black Sea Regions, and listed on the London Stock Exchange's AIM Market and the Irish Stock Exchange's ESM Market. The Company has production, exploration and development assets in Algeria, Egypt, Italy and Bulgaria.

This information is provided by RNS

The company news service from the London Stock Exchange

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(END) Dow Jones Newswires

September 16, 2015 13:01 ET (17:01 GMT)