Result of General Meeting
Georgina Energy PLC announced that all resolutions were passed at its General Meeting, including the allotment of New Ordinary Shares to Central Petroleum Limited for the acquisition of interests in EP 125 Mt Kitty and EP 112 Dukas, a capital reorganisation involving a share sub-division, and the allotment of up to £2.5 million New Ordinary Shares under an at-the-market equity facility for working capital over five years. The resolutions were supported by significant shareholder majorities, with votes for the capital reorganisation at 91.18%, authorising directors to allot shares at 93.1%, disapplying pre-emption rights at 93.1%, and amending Articles of Association at 91.5%.
Select text to share a quote on X · sign in to keep highlights & notes in your GEX notes
Following the General Meeting held at 10.00 a.m. today (the "General Meeting"), the Company can confirm that all resolutions were passed by shareholders.
The resolutions are re-stated as follows:
- authorising the allotment of New Ordinary Shares to Central Petroleum Limited ("CTP") pursuant to the proposed acquisition of the entire issued share capital of Frontier O&G and Ordiv Petroleum, holders of: (i) a 30% interest in EP 125 Mt Kitty; and (ii) a 45% interest in EP 112 Dukas (the "Acquisition");
- a proposed capital reorganisation through the sub-division of the Company's existing ordinary shares of £0.05 each ("Ordinary Share") into one ordinary share of £0.01 (a "New Ordinary Share") and one deferred share of £0.04 (the "Capital Reorganisation");
- allotment of up to £2.5 million New Ordinary Shares pursuant to the entry into an at-the-market equity facility (the "ATM Facility") for the purposes of general working capital over the course of the subsequent five years from the execution of the ATM Facility; and
- proposed amendments to the Company's Articles of Association (the "Articles") in connection with the Capital Reorganisation.
Voting on the Resolutions proposed at the General Meeting were conducted by way of poll.
The number of votes for and against the Resolutions put before the General Meeting, as well as the number of votes withheld, were as follows:
| Resolution | Votes for | Votes for (%) | Votes against | Votes against (%) | Total votes | Votes withheld |
|---|---|---|---|---|---|---|
| Capital Reorganisation | 43,021,347 | 91.18 | 4,163,879 | 8.82 | 47,185,226 | 0 |
| Authorise Directors to allot shares | 43,898,439 | 93.1 | 3,265,679 | 6.9 | 47,164,118 | 21,108 |
| Disapply statutory pre-emption rights | 43,919,533 | 93.1 | 3,265,693 | 6.9 | 47,185,226 | 0 |
| Approve amendments to Articles of Association | 43,169,720 | 91.5 | 4,010,501 | 8.5 | 47,180,221 | 5,005 |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.