Kea Petroleum PLC Result of AGM (3381Y)
November 28 2014 - 8:03AM
UK Regulatory
TIDMKEA
RNS Number : 3381Y
Kea Petroleum PLC
28 November 2014
For Immediate Release 28 November 2014
Kea Petroleum plc
("Kea" or "the Company")
Result of 2014 Annual General Meeting
Kea Petroleum plc (AIM: KEA), the oil and gas company focused on
New Zealand, announces that all resolutions put to its shareholders
at today's Annual General Meeting were duly passed.
The resolutions included shareholder consent for the proposed
capital reorganisation, as follows:
(i) a Consolidation of every 10 Existing Ordinary Shares into
one Consolidated Ordinary Share; and
(ii) an immediate Sub-Division of each of those Consolidated
Ordinary Shares into one New Ordinary Share and one New Deferred
Share.
The expected timetable for the remaining events related to the
capital reorganisation is outlined below:
2014
Expected effective time and date of the Consolidation 5pm, 28 November
and Sub-Division
Expected date of admission of New Ordinary Shares 1 December
to trading on AIM
Expected date of admission of New Ordinary Shares 1 December
to CREST
Expected date CREST accounts are to be credited with 1 December
New Ordinary Shares
Expected dispatch date of share certificates in respect 12 December
of New Ordinary Shares
Although resolutions 7 and 8 in the notice of meeting were
passed in the form set out in the notice, the form of those
resolutions contained typographical errors which overstated the
powers and authorities actually intended to be sought. Accordingly,
the Directors have resolved to limit their exercise of the powers
and authorities given to them so that:
(i) their general authority to issue shares under s551 Companies
Act 2006 ("the Act") is limited to shares with a nominal value of
GBP313,289.86 generally, and a further GBP313,289.86 pursuant to a
pre-emptive offering (and not GBP3,132,898.60 as stated in
resolution 7), and otherwise in accordance with the provisions of
resolution 7; and
(ii) their power to issue equity shares other than in accordance
with the statutory pre-emption rights contained in s561 of the Act,
is limited to equity shares with a nominal value of GBP187,973.92
(and not GBP1,879,739.20 as stated in resolution 8) and otherwise
in accordance with the provisions of resolution 8.
For further information please contact:
Kea Petroleum plc Tel: +44 (0)20 7340 9970
David Lees, Executive Director
WH Ireland Limited (Nomad) Tel: +44 (0)20 7220 1666
James Joyce
James Bavister
Buchanan Tel: +44 (0)20 7466 5000
Mark Court
Sophie Cowles
Notes to Editors:
Kea Petroleum is an AIM listed oil and gas exploration company
with interests in three petroleum exploration permits in the
Taranaki Basin of New Zealand. Kea listed on the London AIM market
in February 2010.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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