Scirocco Energy plc will convene a requisitioned general meeting on 19 March to vote on a resolution for the company to distribute cash to its shareholders. Forest Nominees Ltd, holder of 78,978,978 shares on behalf of G.P. (Jersey) Ltd, is also calling for Scirocco to sell its material assets and return any cash proceeds to […]
Tag: Scirocco Energy plc
Scirocco cancels directors’ fee shares options
Scirocco Energy plc has cancelled certain options held by directors and former directors under the shares in lieu of fees scheme and paid the money owed in cash. OBLIGATION From 2020 to 2022 the directors concerned deferred salaries to preserve cash in the business in exchange for new ordinary shares options, resulting in £447,000 savings. […]
Scirocco investor requisitions general meeting
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 […]
Scirocco Energy CEO Tom Reynolds resigns
Scirocco Energy plc chief executive officer Tom Reynolds is resigning after shareholders earlier this week voted to sell the company’s interest in biogas and renewables. STRATEGIC OPTIONS Mr Reynolds stepped down as a director with immediate effect and will remain CEO until 12 July 2024 or an earlier date in agreement with the company. The […]
Scirocco shareholders back sale of EAG interest
Scirocco Energy plc shareholders have approved the sale of the company’s interest in biogas and renewables specialist Energy Acquisitions Group Ltd (EAG). At today’s general meeting, the resolution received 95.49% votes in favour with 4.51% against. Completion of the deal is subject to a waiver by Allied Irish Banks plc, relating to an existing loan […]
Scirocco Energy plans to sell interest in EAG
Scirocco Energy plc plans to sell its interest and investment in Energy Acquisitions Group Ltd (EAG) for £2.6 million plus contingent consideration of up to a further £150,000. SHAREHOLDERS The sale, related to anaerobic digestion sites, is to OrbeNovo Sponsor LLP. Scirocco said that the growth of EAG was “heavily dependent” on more investment but […]