Result of General Meeting

Lansdowne Oil & Gas plc

29 December 2023

 

29 December 2023

Lansdowne Oil & Gas plc

("Lansdowne" or the "Company")

Result of General Meeting, Share Capital Reorganisation & Admission of Conditional Placing Shares

Lansdowne is pleased to confirm that at the Company's General Meeting held earlier today, all resolutions were duly passed.  Full details of the resolutions are set out in the Notice of General Meeting dated 8 December 2023 and available on the Company's website at: 

https://www.lansdowneoilandgas.com/portfolio-item/lansdowne-circular/

The proxy votes cast were as follows:

Resolution	For		Against		Abstain
1.    Approve Share Capital	296,427,906	99.91%	273,565	0.09%	0
2.    Allot Equity Securities	296,427,906	99.91%	273,565	0.09%	0
3.    Allot Equity Securities 2	296,427,906	99.91%	273,565	0.09%	0
4.    Pre-emption Rights	296,427,906	99.91%	273,565	0.09%	0
5.    Pre-emption Rishts 2	296,427,906	99.91%	273,565	0.09%	0
6.    Adoption of New Articles	296,429,156	99.91%	272,315	0.09%	0

Conditional Placing

As detailed in the Company's announcement of 7 December 2023 and following the passing of resolutions at today's General Meeting, 160,000,000 new ordinary shares of 0.01 pence each in the Company raising an additional £160,000 will be admitted to trading on 02 January 2024 (the "Placing Shares").

Share Capital Reorganisation

Following the passing of the resolutions at the General Meeting, each of the Company's 1,233,618,337 Existing Ordinary Shares will be sub-divided into one New Ordinary Share of 0.01p (the "New Ordinary Shares") and one deferred share of 0.09p ("New Deferred Shares"). The New Deferred Shares will have little economic value as they will not carry any rights to vote or dividend rights, although the New Deferred Shares will rank pari passu with the New Ordinary Shares on a return of capital or on a winding up of the Company.

Admission to AIM and Total Voting Rights

Dealings on AIM in the Existing Ordinary Shares is expected to cease at the close of business on 29 December 2023.

Application has been made for the admission of 1,233,618,337 New Ordinary Shares and 160,000,000 Placing Shares to trading on AIM ("Admission") and it is expected that Admission will take place and that trading in the New Ordinary Shares will commence at 8.00 a.m. on or around 2 January 2024. No application will be made for admission of the New Deferred Shares to trading on AIM nor will any such application be made to any other exchange.

Following Admission, there will be a total of 1,393,618,337 New Ordinary Shares, with voting rights, in issue. The Company does not hold any shares in treasury. Consequently, 1,393,618,337 is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Unless otherwise indicated, all defined terms in this announcement shall have the same meaning as described in the Company's announcement dated 7 December 2023 and the Circular which was posted to shareholders shortly thereafter.

For further information please contact:

Lansdowne Oil & Gas plc		[phone]
Steve Boldy
SP Angel Corporate Finance LLP		[phone]
Nominated Adviser and Joint Broker
Stuart Gledhill
Richard Hail Charlie Bouverat
Tavira Financial Limited		[phone]
Joint Broker
Oliver Stansfield

Notes to editors:

About Lansdowne

Lansdowne Oil & Gas (LOGP.LN) is an oil and gas exploration and appraisal company, focused on the North Celtic Sea and  quoted on the AIM market and head quartered in Dublin.

In May 2023, the application for a Lease Undertaking for the Barryroe Field, in which Lansdowne held a 20% interest, was refused by the Irish Department of the Environment, Climate and Communications.

In June 2023, Lansdowne announced the commencement of action under the Arbitration Process of the Energy Charter Treaty.

Since 20 September 2023, Lansdowne has been designated a "Cash-Shell" under AIM Rule 15.

For more information on Lansdowne, please refer to www.lansdowneoilandgas.com.

 

END