PETRO MATAD LIMITED — AGM Information 2014

Nov 21, 2014

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 7063X

Petro Matad Limited

21 November 2014

Petro Matad Limited

("Petro Matad" or the "Company")

Result of Annual General Meeting

The directors of Petro Matad Ltd announce that at the Company's Annual General Meeting held in Ulaanbaatar today, resolutions 1, 2, 5 and 6 were duly passed. However, resolutions 3 and 4, regarding the re-appointment of Mary Ellen Collins (non-executive director representing EBRD) and David Skeels (non-executive director) as directors of the Company, were not passed.

The Company's major shareholder, Petrovis Matad Ltd, together with associated entities and persons, called for a poll vote in the meeting and subsequently voted against resolutions 3 and 4.  Their votes were sufficient to defeat both resolutions. Accordingly, Mary Ellen Collins and David Skeels have not been re-appointed to the Petro Matad board of directors.

The directors note that EBRD has the right to nominate and to have appointed a member of the board of directors.

A further announcement will be made in due course.

About Petro Matad Limited

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. The Group holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340km² in the far eastern part of the country. Blocks, IV and V are located in central Mongolia. Block IV covers approximately 29,000km² and Block V approximately 21,150km².

Petro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.

Further information:

Petro Matad Limited

George Watkins, Chairman

+976 11 331099

NOMAD and Broker

Westhouse Securities Limited

Alastair Stratton / Martin Davison

+44 (0)20 7601 6100

This information is provided by RNS

The company news service from the London Stock Exchange

END

RAGPGGQGGUPCGPG