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RNS Number : 9597V
Westmount Energy Limited
23 January 2012
Westmount Energy Limited
("Westmount" or the "Company")
Notice of Extraordinary General Meeting ("EGM")
Further to the Company's recent announcements and the appointment of Gerry Walsh and Mr Thomas O'Gorman on 29 November, the Company is embarking upon a new phase of its development.
In order to prepare for the development certain changes in the Company's capital structure need to be made, as well as bringing the Articles of Association up to date with the changes in Jersey company law and streamlined electronic communication. Therefore, the Company is convening an Extraordinary General Meeting ("EGM"). The notice of EGM will be included in a circular (the "Circular") that is being sent to shareholders today. Further details of the EGM and the resolutions to be proposed are described below.
1. Share Capital
After the issue of the 2.2 million shares in November 2011 we are left with insufficient unused authorised share capital to enable your Company to allot new shares as opportunities arise. It is therefore proposed to increase the authorised capital to 200,000,000 consolidated ordinary shares of GBP0.20 each and 200,000,000 redeemable "B" shares of GBP0.01 each.
2. Articles of Association
The existing Articles were adopted some years ago and the Company needs to bring them up to date, to accommodate the changes in Jersey company law as well as the introduction of the additional electronic communication with shareholders. Further details are included in the Circular.
3. Recommendation
The Company's directors will be voting unanimously in favour of the Resolutions amounting in aggregate to 2,660,000 Ordinary Shares, representing approximately 27.3 per cent. of the issued share capital of Westmount and therefore recommend that Shareholders do likewise.
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Voting Record Time for the EGM 5.00 pm on 17 February 2012
Last time for receipt of Forms of Proxy 11.00 am on 18 February 2012
EGM 11.00 am on 20 February 2012
The EGM at which the proposals will be considered will be held on Monday 20 February 2012 at 47 Esplanade, St Helier, Jersey, JE1 0BD, Channel Islands. The Notice of the EGM will be set out in Part 4 of the Notice of the EGM which can be obtained from the company's website, http://www.westmountenergy.com/Documents/. A copy of the proposed new Articles of Association are also available for download from that section of the Company's website.
Enquiries
David King
Westmount Energy Limited
Company Secretary
Tel: 01534 835660
Adrian Hargrave
Nomad and Broker
Cenkos Securities plc
www.cenkos.com
Tel: 020 7397 8900
This information is provided by RNS
The company news service from the London Stock Exchange
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