Europa Oil & Gas (Holdings) plc directors Stephen Williams and Simon Oddie retired at the company’s general meeting this morning.
Resolutions 3 and 4 for a shareholders’ vote on their re-election were withdrawn from the agenda.
“These directors were retiring under the one-third rotation provision of the company’s articles of association,” said Europa.
“Following consultations with shareholders, these directors have withdrawn their candidacy for re-election, and the board has agreed to withdraw these resolutions.”
The directorships ended at the close of the meeting.
Chairman Brian O’Cathain added: “I would like to offer my sincere thanks to both Simon Oddie and Stephen Williams for their invaluable service and advice on the board.
“In particular, I’d like to thank Simon who has been on the Europa board since 2018 and served as chairman during 2018-2019, and as chief executive officer from 2020 until earlier this year.
“Simon and Stephen have made a significant contribution to the development of the company, and I would like to record our sincere thanks and best wishes for their future endeavours.”
The board also withdrew special resolutions 7 and 8 regarding allotment of equity securities following shareholders’ concerns.
Europa said it had no plans to raise additional capital and would seek authorities in respect of specific transactions as and when applicable.