Result of General Meeting

RNS Number : 6763M

Global Petroleum Ltd

19 August 2011

 



19 August 2011

RNS AIM release

Global Petroleum Limited - Results of General Meeting

The Company's General Meeting was held today, 19 August 2011 at 10.30am (AWST).

The resolutions voted on were in accordance with the Notice of General Meeting previously advised to the Australian Securities Exchange.

In accordance with Section 251AA of the Corporations Act 2001, the following information is provided:

Resolution	Result	Number of Proxy Votes
		For	Against	Abstain	Proxy's Discretion
1. Acquisition of Jupiter Petroleum Limited	Passed on a show of hands	13,228,261	41,338	1,740	59,317
2. Authority to Grant Incentive Options to a Director	Passed on a show of hands	12,193,065	1,071,874	6,400	59,317
3. Authority to Grant Incentive Options to Key Consultants	Passed on a show of hands	12,075,366	1,177,039	6,400	71,851

Update on Acquisition of Jupiter Petroleum Limited

The Share Purchase Agreement to acquire Jupiter Petroleum Limited ("Jupiter") is conditional on the satisfaction of a number of conditions precedent, including completing due diligence investigations, obtaining necessary consents from governmental authorities, and shareholder approval which has been satisfied by the passing of Resolution 1 at the General Meeting held today.

The Company anticipates satisfying the remaining conditions precedent and completing the acquisition of Jupiter in accordance with the Share Purchase Agreement on or before 26 August 2011.

Enquiries:

Global Petroleum Limited
Clint McGhie	Tel	+ 61 8 9322 6322
	Email	[e-mail]
Northland Capital Partners Limited (Nominated Adviser and Broker)
William Vandyk	Tel	[phone]

 

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