7 May 2024
Scirocco Energy plc
("Scirocco Energy" or "the Company")
Result of General Meeting
Scirocco Energy (AIM: SCIR), the AIM Rule 15 cash shell, announces that at the general meeting held earlier today in order to approve the cancellation from trading on AIM ("Cancellation"), the necessary Special Resolutions were passed to effect such Cancellation.
The results of the Shareholder vote shown in the table below have been confirmed by a poll of votes cast, carried out by the Company's independent registrar present at the meeting.
| | | | Total Votes | | | |
| Special Resolution | For | % | Against | % | Withheld | Total Cast |
| 1. | 328,127,991 | 94.6 | 17,408,811 | 5.0 | 1,289,846 | 346,826,648 |
| 2. | 326,841,433 | 94.2 | 17,954,206 | 5.2 | 2,031,009 | 346,826,648 |
Consequently, the last day of dealings in the Company's Ordinary Shares on AIM will be 16 May 2024 and the Cancellation will take effect at 7.00 a.m. on 17 May 2024.
MVL Next steps
As set out in the Circular published on 23 February 2024 (the "Circular"), the process of returning cash to Shareholders is highly likely to be implemented via a members' voluntary liquidation ("MVL"), which will involve a further general meeting being called by the Company in c. 2 months' time to seek approval from Shareholders to appoint liquidators. Existing and prospective investors are encouraged to read the Circular for more information on the MVL process.
As stated in the circular published by the Company on 17 April 2024, provision for potential trading in the Company's Ordinary Shares post Cancellation will be provided through a matched bargain platform from 20 May 2024 until the point when the Company enters MVL, if approved. Details of that trading platform will be the subject of a further announcement closer to the date of Cancellation.
For further information:
| Scirocco Energy plc Tom Reynolds, CEO | +44 (0)20 7466 5000 |
| Strand Hanson Limited, Nominated Adviser and Broker Ritchie Balmer / James Spinney / Robert Collins | +44 (0) 20 7409 3494 |
| Buchanan, Financial PR Ben Romney / Barry Archer / George Pope | +44 (0)20 7466 5000 |
Inside Information
The information contained within this announcement is deemed by Scirocco to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 ("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.
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