Business
Notice of AGM and proposed Board changes
Notice of AGM and proposed Board changes.
About this update from Petro Matad Limited
[{"type":"text","content":"\n \nRNS Number : 5049V Petro Matad Limited 24 July 2018 \n\nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY PETRO MATAD LIMITED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 (\"MAR\"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE (\"RIS\"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n24 July 2018\nPetro Matad Limited\n(\"Petro Matad\" or the \"Company\")\nNotice of AGM and proposed Board changes\nPetro Matad, the AIM quoted Mongolian oil explorer, advises that the Annual General Meeting (\"AGM\") of the Company at which, inter alia, shareholders will be asked to receive and adopt the Annual Report for the year ended 31 December 2017 will be held at 4pm local time (9am BST) on Thursday 20 September 2018 at Blue Sky Tower, Topaz Conference Hall, Peace Avenue 17, Sukhbaatar District, Ulaanbaatar, Mongolia.\n \nThe AGM notice and form of proxy will be posted in due course to shareholders who have opted for hard copy communications and shareholders who have signed up to the Company's electronic communications service will receive notification by email.\n \nThe Company has been notified by Dr. Oyungerel Janchiv, Non-Executive Director, that she intends to retire from her position on the Board in order to spend more time pursuing her other interests. Dr. Oyungerel was instrumental in the formation of the company and has served on the Board for 13 years including 10 years since the IPO. She will step down at the forthcoming AGM with her resignation then being immediately effective.\n \nDr Oyungerel's position on the Board is on the nomination of Petrovis Matad Inc, the Company's largest shareholder, who have indicated that they shall be nominating a replacement Director. Details of this appointment, which will be subject to completion of regulatory checks, will be notified once available.\n \nThe Company also announces that it is seeking to strengthen the Board with the appointment of a further independent Non-Executive Director. A search has already begun and an announcement in this regard will also be made in due course.\n \nEnkhmaa Davaanyam, Chairperson of Petro Matad, commented:\n\"The Company has been very fortunate to have had a person of Dr. Oyungerel's calibre and standi...