Scirocco Energy plc will vote on a resolution to distribute cash to its shareholders in a requisitioned general meeting.
ALTERNATIVES
Forest Nominees Ltd, the legal holder of 78,978,978 shares in the company held as nominee on behalf of G.P. (Jersey) Ltd, called for the meeting in a letter dated 2 February under section 303 of the Companies Act 2006.
Scirocco must call a general meeting within 21 days of receipt of the valid requisition and hold the meeting on a date not more than 28 days after the date of the notice.
The company said it would post a circular convening the general meeting to shareholders no later than 23 February 2024.
“The single proposed resolution relates to a request for the directors to put in place a strategy to distribute cash proceeds from the sale of assets to shareholders,” added Scirocco in its statement.
The company continues to review “a range of potential alternatives” to deliver value to shareholders, which may include the distribution of available cash, further investments and/or a reverse takeover.
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