Result of General Meeting (8767F)
2012年6月21日 - 7:46PM
RNSを含む英国規制内ニュース (英語)
TIDMWBN
RNS Number : 8767F
Woburn Energy PLC
21 June 2012
For immediate release
21 June 2012
Woburn Energy Plc
("Woburn" or the "Company")
Result of General Meeting
and Completion of Disposal
The Board of Woburn is pleased to announce that at the General
Meeting held earlier today all the resolutions were duly passed.
The first resolution approved the conditional Assignment Agreement
for the sale of its 50 per cent. beneficial interest in the Las
Quinchas Association Contract with Ecopetrol. The Investing Policy
was also approved by shareholders at the General Meeting.
The disposal, which has now been completed, constitutes a
fundamental change of business of the Company under Rule 15 of the
AIM Rules and the Company will therefore become an Investing
Company.
Following completion, Woburn has no assets other than its share
of the net proceeds of the disposal, which are expected to amount
to approximately US$4.5 million after settlement by LQRC and Woburn
of all outstanding liabilities owed both to the Las Quinchas
Association Contract operator, Pacific Rubiales Energy Corp, and
the LQRC minority shareholder, PetroMagdalena Energy Corporation,
together with the costs and expenses of the disposal.
The Board looks forward to updating shareholders in due course
of developments within the Investing Policy.
For further information, please contact:
Woburn Energy Plc Tel: +44 (0) 20
7380 4600
Kamran Ahmed / Graeme Thomson www.woburnenergy.com
Beaumont Cornish Limited (Nominated Tel: +44 (0)20
Adviser) 7628 3396
Michael Cornish
DEFINITIONS
"Assignment Agreement" the conditional assignment agreement
executed 31 May 2012 and entered
into between LQRC and the Purchaser;
"Investing Company" has the meaning given in the
glossary to the AIM Rules;
"Investing Policy" the proposed investing policy
of the Company, to be pursued
by the Company following completion;
"Las Quinchas the association contract between
Association Contract" Empresa Colombiana De Petroleos
(Ecopetrol) and Clavijo Avila
Geopozos & Company S.A. dated
29 January 1996 (as amended);
"LQRC" Las Quinchas Resource Corporation,
a company incorporated under
the laws of Barbados (West Indies)
with registered number 16000063
whose registered office is located
at c/o Oceanic Managers (Barbados)
Incorporated, Braemar Court,
Deighton Road, St. Michael, BB14017,
Barbados;
"Purchaser" the purchaser of the beneficial
interests of LQRC under the Las
Quinchas Association Contract
pursuant to the Assignment Agreement,
being Cloister Blue Corporation,
a company organised and existing
under the laws of the British
Virgin Islands with registered
number 1054513;
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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