Genel Energy PLC Changes to Takeover Code - Suspended Voting Shares (1991G)
November 18 2015 - 10:15AM
UK Regulatory
TIDMGENL
RNS Number : 1991G
Genel Energy PLC
18 November 2015
18 November 2015
Genel Energy plc
Changes to Takeover Code - Suspended Voting Shares
Genel Energy plc (the "Company") notes the publication on 23
October 2015 of the Response Statement by the Code Committee of the
Takeover Panel following the consultation on PCP 2015/2 in relation
to restrictions and suspensions of voting rights ("RS 2015/2").
As stated in RS 2015/2, with effect from 23 November 2015 the
definition of "Voting Rights" in the Takeover Code will change, so
that any shares which are subject to a suspension of voting rights
will normally be regarded as having voting rights which are
currently exercisable at a general meeting.
Paragraph 1.8 of RS 2015/2 provides that companies that have in
the past issued suspended voting shares, which remain in issue,
should consult with the Panel Executive in order to obtain a ruling
regarding the application of the Takeover Code to the Company,
taking account of the facts of the particular case.
The Company has 29,621,685 existing suspended voting shares in
issue and it has consulted with the Panel Executive in accordance
with paragraph 1.8 of RS 2015/2.
The Panel Executive has confirmed to the Company that its
existing suspended voting shares will not be treated as having
"Voting Rights" for the purposes of the Takeover Code.
-ends-
For further information please contact:
Genel Energy
Sarah Robertson, Company
Secretary
Phil Corbett, Head of
Investor Relations +44 20 7659 5100
Notes to editors:
Genel Energy is an independent oil and gas exploration and
production company listed on the main market of the London Stock
Exchange (LSE: GENL). The Company, with headquarters in London and
additional offices in Ankara and Erbil, is the largest independent
oil producer and the largest holder of reserves and resources in
the Kurdistan Region of Iraq and, through its Miran and Bina Bawi
gas fields, is set to be a cornerstone provider of gas to Turkey
under the KRI-Turkey Gas Sales Agreement. Genel also continues to
pursue further growth opportunities within the Middle East and
Africa. For further information, please refer to
www.genelenergy.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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