28 August 2024
Bowleven plc
("Bowleven" or the "Company")
Result of General Meeting and Cancellation of Admission to Trading on AIM
Bowleven, the African focused oil and gas exploration and production company with key interests in Cameroon, announces that all Resolutions set out in the circular, containing, inter alia, a notice of general meeting, published by the Company on 9 August 2024 (the "Circular"), and put to the Company's Shareholders at the General Meeting of the Company held earlier today, were duly passed.
The number of votes cast for and against each of the Resolutions proposed, and the number of votes withheld were as follows:
| Special Resolution Number | Special Resolution Name | Votes for | Votes Against | Votes Withheld* | Total Votes Cast (excl. withheld) | ||
| No. of shares | % of shares voted | No. of shares | % of shares voted | No. of shares | |||
| 1 | AIM cancellation | 1,243,826,486 | 97.40 | 33,261,940 | 2.60 | 233,388 | 1,277,088,426 |
| 2 | Re-registration and adoption of new articles of association | 1,243,844,774 | 97.40 | 33,228,821 | 2.60 | 248,219 | 1,277,073,595 |
*A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'For' or 'Against'
In accordance with the passing of Resolution 2, the Company will re-register as a private limited company with the name Bowleven Limited and will adopt new articles of association, which is expected to take place on or around 25 September 2024.
The full text of the resolutions proposed and passed at the General Meeting can be found in the Circular which is available on the Company's website: https://www.bowleven.com/.
AIM Delisting
Following approval by Shareholders at the General Meeting, the admission of the ordinary shares of 0.1 pence in the capital of the Company (the "Ordinary Shares") to trading on AIM will be cancelled {the "AIM Delisting"). The AIM Delisting is expected to take place at 7:00 a.m. on 24 September 2024 and, accordingly, the last day of dealings in Ordinary Shares on AIM is expected to be 23 September 2024.
Exit Opportunity
Shareholders are reminded that the Exit Opportunity provided by Crown Ocean Capital closes at 1.00 p.m. on 11 September 2024 and the Company anticipates announcing the number of Shares sold pursuant to
the Exit Opportunity on 12 September 2024. Further details regarding the Exit Opportunity can be found in the Circular.
Matched Bargain Facility
It remains the Company's intention to provide a matched bargain facility to assist Shareholders wishing to trade in Ordinary Shares following the AIM Delisting. Further details with respect to the matched bargain facility, to be provided by J P Jenkins, will be made available in due course on the Company's website https://www.bowleven.com.
Capitalised terms used but not otherwise defined in this announcement have the meanings given to them in the Circular.
ENQUIRIES
For further information, please contact:
| Bowleven plc |
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| Eli Chahin, Chief Executive | + 44 20 3327 0150 |
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| Camarco (Financial PR) | |
| Owen Roberts | + 44 20 3757 4980 |
| Hugo Liddy | |
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| Shore Capital (NOMAD and Broker) | |
| Daniel Bush Rachel Goldstein | + 44 20 7408 4090 |
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