Business
Result of EGM
Result of EGM.
About this update from Clontarf Energy Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 9741C Persian Gold PLC 15 March 2011 \n\n15 March 2011\n \nPersian Gold plc (\"Persian Gold\" or the \"Company\")\n \nResults of Meetings\n \nChange of name to Clontarf Energy plc\n \nPersian Gold is pleased to announce that all resolutions proposed at a General Meeting of the Company held earlier today in London were approved including a resolution to approve the acquisition by the Company of Hydrocarbon Exploration plc (\"HyEx\") and a resolution to approve the change of the Company's name to Clontarf Energy plc (\"Clontarf Energy\"). The Company's ticker will change to 'CLON' following the name change; the Company's ISIN and SEDOL will remain unchanged. \n \nThe approval of the resolutions at the Persian Gold General Meeting followed the approval by HyEx shareholders of (1) a resolution to approve the scheme of arrangement to effect the acquisition of HyEx by Persian Gold at a court meeting of HyEx shareholders (the \"Scheme\"), and (2) resolutions to implement the Scheme at a general meeting of HyEx shareholders. \n \nIt is expected that the Scheme will become effective (following High Court sanction) on 5 April 2010. Following this, admission to trading on AIM of the existing ordinary shares in Clontarf Energy (formerly Persian Gold) will be cancelled and re-admission and dealings in the existing ordinary shares and new ordinary shares in Clontarf Energy plc will commence on AIM with effect from 8 a.m. on 6 April 2011.\n \nDavid Horgan, Managing Director, commented:\n \n\"I am delighted that shareholders in both Persian Gold (PNG) and Hydrocarbon Exploration (HyEx) have approved the acquisition of HyEx which leads to the creation of Clontarf Energy, an oil and gas explorer and producer with an exciting portfolio of projects in Peru, Ghana and Bolivia. While the HyEx acquisition, which is subject to final court approval, will not complete until early April, PNG becomes Clontarf Energy (CLON) in a few days.\n \nIn Peru, we expect within weeks to complete the formal signing ceremony to acquire two good quality onshore exploration blocks. We have successful experience in creating value with Peruvian oil assets. In Ghana we await cabinet and parliament approval on our 60% held Tano 2 onshore / offshore block. Delay is difficult...