Notice of AGM and Directorate Change

RNS Number : 4975A

SDX Energy PLC

02 June 2021

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SDX TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

2 June 2021

SDX ENERGY PLC ("SDX" or the "Company")

Notice of AGM and Directorate Change

SDX Energy Plc (AIM: SDX), the MENA-focused oil and gas company, announces that it has today made available to shareholders its notice of Annual General Meeting ("AGM") and Management Information Circular to shareholders, and copies have been uploaded onto the Company's website ( www.sdxenergy.com ) and on SEDAR ( www.sedar.com ).   The AGM will be held on 25 June 2021 at 10:00 am (UK time).   Hard copies are also being posted today to those shareholders who have elected to receive copies by post.

The Company's preference had been to welcome shareholders in person to our 2021 AGM, particularly given the constraints we faced in 2020 due to the COVID-19 pandemic. However, the UK Government's current guidance as at the date of publication of this document regarding social distancing and the prohibition of public gatherings due to the continued COVID-19 pandemic remain in place. We are therefore proposing to hold the AGM with the minimum attendance required to form a quorum.

As under the UK Government's current guidance shareholders will not be able to attend, voting at the AGM will be on a poll, and will reflect all valid proxy voting instructions duly received in advance of the meeting.

In addition, the Board of Directors of the Company (the "Board") recognises the importance of shareholder engagement through the AGM process and whilst shareholders will not be able to attend the AGM, the Company will be holding a webinar on 21 June 2021 at 3:00 pm (UK time) to update shareholders on the Group's activities and also to enable shareholders to submit any questions (in writing) that they may have about the resolutions proposed at the AGM, ahead of the Proxy deadline. Further details of these arrangements are set out below.

Shareholders wishing to vote on any of the resolutions are urged to do so by appointing the chairman of the AGM as a proxy to vote on their behalf. Shareholders can appoint the chairman as proxy by:

· logging on to www.signalshares.com and submitting your proxy appointment online; or

· completing and returning the enclosed proxy form by post to Link Group, PXS 1, Central Square, 29 Wellington Street, Leeds, LS1 4DL; or

· submitting (if you are a CREST member) a proxy appointment electronically, by using the CREST voting service.

Proxy appointments, whether submitted electronically or by post, must be received by Link Group by no later than 10:00 am on 23 June 2021.

Given the constantly evolving nature of the situation, should circumstances change before the time of the AGM in a manner which, in the view of the Board, permits shareholders to safely attend in person, the Company will notify shareholders of the change by making an announcement by RNS as early as is possible before the date of the AGM.  Any updates to the position will also be included on our website at https://www.sdxenergy.com/.

To access the pre-AGM webinar on 21 June 2021, 3:00 pm (UK time), please use this link to register: https://webcasting.brrmedia.co.uk/broadcast/5fad284cbe1fd642a3ef0f4d  

Following his departure from Waha Capital, Mr. Amr Al Menhali will not be putting himself forward for re-election as a director of the Company at the AGM and so will retire at the AGM. 

Michael Doyle Non-Executive Chairman of SDX said:

"I would like to thank Amr for his significant contribution to the Company and wish him every success in his future endeavours."

About SDX

SDX is an international oil and gas exploration, production and development company, headquartered in London, United Kingdom, with a principal focus on MENA. In Egypt, SDX has a working interest in two producing assets: a 55% operated interest in the South Disouq gas field in the Nile Delta and a 50% non-operated interest in the West Gharib concession, which is located onshore in the Eastern Desert, adjacent to the Gulf of Suez. In Morocco, SDX has a 75% working interest in five development/production concessions, all situated in the Gharb Basin. The producing assets in Morocco are characterised by attractive gas prices and exceptionally low operating costs. SDX has a strong weighting of fixed price gas assets in its portfolio with low operating costs and attractive margins throughout, providing resilience in a low commodity price environment. SDX's portfolio also includes high impact exploration opportunities in both Egypt and Morocco.

For further information, please see the Company's website at www.sdxenergy.com or the Company's filed documents at www.sedar.com .

For further information:

SDX Energy Plc Mark Reid Chief Executive Officer Tel: [phone] Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker) Callum Stewart Jason Grossman Ashton Clanfield Tel: [phone] Peel Hunt LLP (Joint Broker) Richard Crichton David McKeown Tel: [phone] Camarco (PR) Billy Clegg/Owen Roberts/Violet Wilson Tel: [phone]

 

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