Notice of EGM

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 £0.20 each and 200,000,000 redeemable "B" shares of £0.01 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: [phone]

Adrian Hargrave

Nomad and Broker

Cenkos Securities plc

www.cenkos.com

Tel: [phone]

 

END

 

 

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