Business
Reduction of Capital Circular and Notice of GM
Reduction of Capital Circular and Notice of GM.
About this update from Enwell Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8407K\n Enwell Energy PLC\n 07 January 2021\n \n \n \n \n \n 7 January 2021\n \n \n \n \n \n \n \n \n \n Enwell Energy plc\n \n \n (\"Enwell\" or the \"Company\")\n \n \n \n \n \n Reduction of Capital Circular and Notice of General Meeting\n \n \n \n \n \n Enwell Energy plc (AIM: ENW), the AIM-quoted oil and gas exploration and production group, \n announces that a circular (the \"Circular\") to shareholders in connection with a proposed reduction of capital by the Company (the \"Reduction of Capital\"), including a Notice of General Meeting, will be posted to shareholders later today.\n \n \n \n \n \n The General Meeting is to be held at 11.00 a.m. on 28 January 2021 at the Company's offices at 16 Old Queen Street, London SW1H 9HP. A copy of the Circular and Notice of General Meeting will shortly be available on the Company's website at \n \n www.enwell-energy.com\n \n .\n \n \n The Circular sets out a proposal for the entire share premium account of the Company to be cancelled. The effect of the \n proposed \n Reduction of Capital, if approved by shareholders at the \n General Meeting\n , will be to \n create distributable reserves of the Company. \n This would permit\n the Company to make distributions to its shareholders in the future, subject to the Company's financial performance. However, \n in seeking approval of the \n proposed \n Reduction of Capital, the Company is not indicating any commitment to, and does not have any current intention to, make any distributions to shareholders.\n \n \n The proposed Reduction of Capital is conditional upon the passing of the special resolution set out in the Notice of General Meeting by the Company's shareholders, as well as approval being obtained from the High Court of Justice of England and Wales (the \"\n Court\n \").\n \n \n The anticipated timetable of the \n proposed \n Reduction of Capital is as follows:-\n \n \n \n \n \n \n \n \n \n Date of publication of the\n Circular\n \n \n \n \n \n \n \n \n \n \n 7 January 2021\n \n \n \n \n \n \n Latest time and date for receipt of completed Forms of Proxy\n \n \n \n \n \n \n \n 11.00 a.m. on 26 January 2021\n \n \n \n \n \n \n General Meeting\n \n \n \n \n \n \n \n 11.00 a.m. on 28 January 2021\n \n \n \n \n \n \n Expected Court Hearing to confi...