NZO
04/12/2014 11:31
MEETING
PRICE SENSITIVE
REL: 1131 HRS New Zealand Oil and Gas Limited
MEETING: NZO: Notice of Special Meeting
New Zealand Oil & Gas will hold a special meeting of shareholders on Friday,
19 December to vote on a proposed capital return to shareholders.
The directors announced their resolution to make a capital return of NZ15
cents per share at the Annual Meeting on 4 November.
Chief Executive Andrew Knight says it's important for New Zealand Oil & Gas
shareholders to vote on the capital return.
"The capital return requires approval by a majority of all voting rights
entitled to be voted on the resolution. It also requires approval by 75 per
cent or more of the votes cast by the holders of ordinary shares and approval
by 75 per cent or more of the votes cast by the holders of part-paid shares.
"The company has a robust balance sheet with no debt, and in the near term
expects increasing cash flows from increased levels of production from the
Tui oil fields. Consequently, the company's cash on hand will grow well
beyond what the business requires for its planned activities," Andrew Knight
says.
The capital return is to take place by means of a Scheme of Arrangement under
Part 15 of the Companies Act 1993.
A Notice of Special Meeting is being sent to shareholders this week.
Shareholders are able to vote online, appoint a proxy to vote on their
behalf, return a postal vote, or attend the meeting in person.
Further details, including the full Notice of Special Meeting, Scheme of
Arrangement and Explanatory Notes are now available online at:
http://nzog.today
The special meeting will be held at the offices of Minter Ellison Rudd Watts,
Level 18, 125 The Terrace, Wellington at 10am (New Zealand daylight saving
time) on Friday, 19 December 2014.
John Pagani
External Relations Manager
+64 21 570872
End CA:00258502 For:NZO Type:MEETING Time:2014-12-04 11:31:52
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
