Notice of GM

RNS Number : 1150W

Angus Energy PLC

20 December 2021

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.

20 December 2021

Angus Energy Plc 

("Angus Energy", "Angus" or the "Company")

Notice of General Meeting ("GM")

General Meeting

On 3 December 2021 the Company announced that it had completed an equity fundraise to raise £750,000 before expenses (Placing), through the issue of 115,384,611 ordinary shares of £0.002 each in the capital of the Company (Ordinary Shares) at a price of £0.0065 per share. The Placing used up most of the authority given to the Directors to issue Ordinary Shares, which was approved by Shareholders at the March 2021 annual general meeting.

Accordingly, the Company is now convening the GM to table resolutions to authorise the Directors to issue and allot further Ordinary Shares and to disapply statutory pre-emption rights in respect of allotment up to a certain amount. This will give the Directors flexibility to issue and allot further Ordinary Shares in the future (whether to maintain debt covenants and meet all obligations under the Saltfleetby Development Loan Facility or more generally) should they consider it to be in the best interests of the Company to do so.

The GM will be held at the offices of Fladgate LLP, 16 Great Queen Street, London WC2B 5DG on Thursday 13 January 2022 at 11.00 a.m. The formal notice of the meeting is set out on page 5  of the document and contains the proposed resolutions to be considered and voted on at the meeting.

Attendance at the GM

Our preference had been to welcome shareholders in person to the GM, particularly given the constraints faced in 2020 and much of 2021 due to the Covid-19 pandemic. However, the Board has considered carefully what arrangements should be made for the GM in light of the current Covid-19 legislation and public health guidance issued by the UK Government and the spread of the Omicron variant of Covid-19. At the time of publication of this Notice, it was not possible for the Board to predict with certainty what, if any, Government restrictions on public meetings would be in place on the date scheduled for the GM. The Board believes that, notwithstanding the fact that, at the time of the publication of this Notice, shareholder meetings are allowed to be held in person, a cautious approach to situations that appear to carry a higher Covid-19 transmission risk (particularly indoor events) will remain necessary for some time to come. Accordingly, although the Company will hold the GM at the offices of Fladgate LLP, 16 Great Queen Street, London WC2B 5DG, shareholders and corporate representatives are strongly encouraged not to attend the GM in person but instead be represented by the Chair of the GM acting as their proxy.

At the GM, the Company will conduct the necessary GM business, principally putting the resolutions to shareholders and calling a poll. For safety reasons, a bare minimum of Directors and staff will attend so as to ensure that the meeting is quorate. There will be no presentations on the Company's business and no refreshments will be available.

END.

Enquiries:

Angus Energy Plc	www.angusenergy.co.uk
George Lucan	Tel: [phone]
Beaumont Cornish (Nomad)	www.beaumontcornish.com
James Biddle/ Roland Cornish	Tel: [phone]
WH Ireland Limited (Broker)
Katy Mitchell/ Harry Ansell	Tel: [phone]
Flagstaff PR/IR	[e-mail]
Tim Thompson	Tel: [phone]
Fergus Mellon
Aleph Commodities	[e-mail]

Notes

About Angus Energy plc

Angus Energy plc is a UK AIM quoted independent onshore Energy Transition company with a complementary portfolio of clean gas development assets, onshore geothermal projects, and legacy oil producing fields. Angus is focused on becoming a leading onshore UK diversified clean energy and energy infrastructure company.  Angus Energy has a 51% interest in the Saltfleetby Gas Field (PEDL005), majority owns and operates conventional oil production fields at Brockham (PL 235) and Lidsey (PL 241) and has a 25% interest in the Balcombe Licence (PEDL244).

Important Notices

This announcement contains 'forward-looking statements' concerning the Company that are subject to risks and uncertainties. Generally, the words 'will', 'may', 'should', 'continue', 'believes', 'targets', 'plans', 'expects', 'aims', 'intends', 'anticipates' or similar expressions or negatives thereof identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely. The Company cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this announcement. The Company does not undertake any obligation to update or revise publicly any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the extent legally required.

Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of the Company.

 

END

 

 

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