Reabold Resources plc is considering an early distribution to shareholders following receipt of an initial £10 million, with £3.2m net to Reabold, from the sale of Corallian Energy Ltd to Shell UK Ltd. PARTIAL DISTRIBUTION The balance of the total £22m consideration (£9.5 million net to Reabold), is expected to be paid during 2023. At […]
Tag: shareholders
Hurricane plans to return up to $70m to shareholders
Hurricane Energy plc is planning a “significant”capital reduction programme to distribute reserves of up to $70 million, equivalent to 3.1 pence per share, to shareholders. MEETING Hurricane said that the programme involved cancellation of the company’s share premium account of approximately $822.5m, in order to create distributable reserves. The company intends to start the programme in Q1 2023 should […]
Reabold shareholders reject plan to remove directors
Reabold Resources plc said that proposed resolutions, including the removal of the entire board of directors, have been rejected at a requisitioned general meeting. TIMELINE Shareholders today voted against each resolution by slightly more than 75% with just under 25% in favour. In October 2022, Pershing Nominees Ltd which owns some 6.93% of Reabold’s issued […]
Shareholders back Ormonde’s €2.3m sale of La Zarza
Ormonde Mining plc has received 99.77% shareholder approval for the €2.3 million sale of its La Zarza copper-gold-zinc project in Spain. ACQUISITIONS The vote was held in the company’s extraordinary general meeting earlier today. Following completion of the sale, Ormonde will become an AIM Rule 15 cash shell and have to make an acquisition or acquisitions constituting […]
Scirocco shareholders request general meeting
Scirocco Energy plc said that a group of its shareholders had requested a general meeting to discuss strategy, share price and a revenue audit and funding of the Ruvuma gas interest in Tanzania. PROPOSED RESOLUTIONS The company added it would call a general meeting within 21 days of receiving a valid requisition. It will hold […]
Block shareholders reject forensic investigation
Block Energy plc’s shareholders today rejected a resolution by 93.7% to hold a forensic investigation into the company’s affairs in onshore oil and gas at West Rustavi, Georgia. The resolution was proposed by Forest Nominees Ltd on behalf of G.P. (Jersey) Ltd and was the second requisitioned general meeting called during July. Resolution For […]