Business
Notice of General Meeting
Notice of General Meeting.
About this update from Geo Exploration Limited
[{"type":"text","content":"\n \nRNS Number : 3805K Global Petroleum Ltd 14 July 2011 \n \n\n \nGLOBAL PETROLEUM LIMITED\nNOTICE OF GENERAL MEETING\n \nNotice is hereby given that a general meeting of shareholders of Global Petroleum Limited (\"Company\") will be held at 10.30am (AWST) on 19 August 2011 at the Plaza Level, BGC Centre, 28 The Esplanade, Perth, Western Australia (\"General Meeting\").\n \nThe notice of general meeting (\"Notice\") and the explanatory memorandum accompanying the Notice (\"Explanatory Memorandum\") published today provide additional information on matters to be considered at the General Meeting. The Notice, Explanatory Memorandum and a form of proxy for use at the General Meeting (\"Proxy Form\") are being sent to shareholders in the Company and are available from the Company's website www.globalpetroleum.com.au and from ASX at http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=GBP\n \nThe Directors have determined pursuant to regulation 7.11.37 of the Corporations Regulations 2001 (Cth) that the persons eligible to vote at the Meeting are those who are registered as Shareholders at 5pm (AWST) on 17 August 2011. \n \nAt the General Meeting resolutions will be proposed to \n \n1. approve the acquisition of Jupiter Petroleum Limited from Mr Peter Taylor and Mr Peter Blakey for an aggregate consideration of 25,000,000 new ordinary shares (\"Shares\") in the Company;\n2. approve the grant of incentive options to Mr Clint McGhie; and\n3. grant the Company authority to issue incentive options to key consultants.\n \n \nA. Acquisition of Jupiter Petroleum Limited\n \nOn 31 January 2011 the Company announced that it had entered into a conditional sale and purchase agreement to acquire Jupiter Petroleum Limited (\"Jupiter\") which holds prospective oil and gas exploration interests in offshore Namibia and offshore Juan de Nova, a French dependency in the Mozambique Channel (the \"Acquisition\").\n \nThe two directors and shareholders of Jupiter are Mr Peter Blakey and Mr Peter Taylor (\"Vendors\"). \n \nThe Vendors are also directors of the Company and are therefore a 'related party' pursuant to the Corporations Act an...