Hurricane Energy plc announced board resignations and appointments as well as the withdrawal of a requisition notice from one of its shareholders.
BOARD CHANGES
Yesterday (29 June) chairman Steven McTiernan, and non-executive directors (NEDs) John van der Welle, Sandy Shaw, Beverley Smith and Dr David Jenkins resigned from the board with immediate effect.
Alan John Wright and David Ian Craik were appointed to the board as NEDs with Mr Wright assuming the position of interim chairman.
REQUISITION NOTICE
Hurricane added that it had received a letter from shareholder and activist investor Crystal Amber Fund Ltd withdrawing its requisition notice to convene a general meeting (GM).
The meeting, due to be held on 5 July 2021, has now been cancelled.
In addition, the resolutions proposing the re-election to the board of Steven McTiernan and Sandy Shaw due to be voted on at today’s GM will also now be withdrawn.
Following consultations with its largest shareholders, Hurricane and the new NEDs yesterday resolved that, should the resolutions proposing the re-election of Antony Maris and Richard Chaffe as directors be not approved at today’s GM, the company would immediately re-appoint them as directors.
This will ensure that Hurricane maintains its ability to operate safely and effectively as a listed business.
The company added that such re-appointments would be subject to approval by the shareholders at Hurricane’s 2022 GM.