/KASE,June 23, 2021/ – NOSTRUM OIL & GAS PLC (London), whose shares are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release dated November 23, 2021:
quote
Nostrum Oil & Gas PLC (LSE: NOG) (“Nostrum”, or “the Company”), an independent
oil and gas company engaging in the production, development and exploration of
oil and gas in the pre-Caspian Basin, notifies that in its 2021 AGM results
announcement, the Company’s Board of Directors announced that all resolutions
proposed at the AGM on 9 June 2021 were passed with the requisite majority,
although there was a significant minority vote (37.34%) against approval of the
authorisation of the Company to allot shares pursuant to section 551 of the
Companies Act 2006.
In addition, in response to feedback received from shareholders and shareholder
advisory bodies prior to the AGM, the Company withdrew before the AGM, the
previously proposed resolutions that authorised the Company to:
- dis-apply statutory pre-emption rights pursuant to Section 570 of the
Companies Act 2006,
- make market purchases of its own ordinary shares pursuant to section 693(4)
of the Companies Act 2006, and
- make off-marke purchases of its own ordinary shares pursuant to Section
693(2) of the Companies Act 2006.
Nostrum’s Board has consulted with shareholders and has discussed the views of
shareholders in relation to these matters. The main themes expressed by some
shareholders and shareholder advisers during the engagement process in relation
to these matters were that in their view it was inappropriate for the Company to
request such authorisations at that time, given that the Company was seeking to
agree upon the terms of a restructuring of its debt at the same time and various
actions for which authorisation was being sought could affect such a
restructuring.
unquote
The complete press release is available on KASE website:
-
https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_reliz_231121_1.pdf – in Russian;
-
https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_reliz_231121_eng_1.pdf – in
English.
[2021-11-23]