Urals Energy Public Company Limited Resignation of Directors (7783Q)
February 21 2019 - 9:30AM
UK Regulatory
TIDMUEN
RNS Number : 7783Q
Urals Energy Public Company Limited
21 February 2019
21 February 2019
Urals Energy Public Company Limited
("Urals Energy", the "Company" or the "Group")
Resignation of Directors
Urals Energy announces that Andrew Shrager, Leonid Dyachenko and
Stephen Buscher have resigned as directors of the Company with
effect from the close of business today.
As noted in the Company's previous announcements, an
extraordinary general meeting is scheduled for 11am Cypriot time,
9am GMT, tomorrow 22nd February 2019 (the "EGM") at the registered
office of the Company at Glafkos Tower, Office 501, 5th floor, 3
Menandrou street, Nicosia, CY-1066, Cyprus. At the EGM resolutions
for the appointment of alternative directors will be proposed.
In addition, Allenby Capital Limited has, with effect from the
close of business today, resigned as the Company's financial
adviser.
Andrew Shrager, outgoing Chairman of the Company commented:
"The Board's decision to resign was made inevitable by the
failure of Adler Impex to support the Board in its pursuit of the
repayment of the Group's funds that were misused by and on the
authority of Mr Sergey Kononov, President of the Company's 98.56%
owned Petrosakh subsidiary, and his failure to resign his role at
Petrosakh. I trust that the new Board that is likely to be elected
tomorrow will be able to succeed in these respect and secure the
necessary additional working capital for the Company. We have
ensured that the new Board have been made fully aware of all the
information available to us. The Company has the potential to be
successful, and we wish the new Board well."
- Ends -
For further information, please contact
Urals Energy Public Company Limited Tel: +357 22 451686
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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Kingdom. Terms and conditions relating to the use and distribution
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contact rns@lseg.com or visit www.rns.com.
END
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