Business
Addendum to the Notice of General Meeting
Addendum to the Notice of General Meeting.
About this update from Synergia Energy Ltd
[{"type":"text","content":"\n\n \nFor a printer friendly copy of this announcement, please click on the link below to open a PDF version.\nhttp://www.rns-pdf.londonstockexchange.com/rns/8971A_1-2024-1-25.pdf\n \nRNS Announcement\n \n25 January 2024\nAIM: SYN\n \n\nAddendum to the Notice of General Meeting\n\n \nSynergia Energy Ltd (Synergia Energy or the Company) hereby gives notice that the Directors have determined to issue an addendum (Addendum) to include a resolution 4 in the Company's Notice of General Meeting, which was announced on 15 January 2024.\n \nThe Company confirms that there is no change to the date, time and venue of the General Meeting, which will be held on Thursday, 15 February 2024 at 10am GMT / 6pm AWST at Vigo Consulting, Sackville House, 40 Piccadilly, London W1J 0DR, United Kingdom, or to the other three resolutions.\n \nInformation on voting is contained In the Addendum.\n \nAttached is a copy of the Addendum to the Notice of Meeting and updated Proxy Form. Below is an extract of the text from the Addendum related to resolution 4:\n \n\nResolution 4 - Authorise the future issue of up to 2,750,000,000 new ordinary shares\n\nFollowing de-listing from the ASX, the Company is no longer bound by the restrictions on issuing new shares pursuant to ASX Listing Rules. However, the Company is committed to best corporate governance practices and to maintaining similar restrictions.\n \nThe purpose of this resolution is to give the Directors powers to allot shares in excess of the previously disclosed commitment. The Company committed in December 2022 to its AIM Nominated Adviser, Strand Hanson Limited, that it will not issue, or commit to issue, more than 25% of its share capital at the date of the de-listing from the ASX. After the issue of the Placement Shares in December 2023, the Company has largely used up the 25% capacity to issue new shares.\n \nThe Board is anticipating additional capital raising to be required before the next Annual General Meeting and considers that it is in the interests of Shareholders for the Company to have the authority to place new ordinary shares for cash. Also the Board considers it prudent to retain sufficient financial flexibility to meet both anticipated demands for capital, and any unforeseen challenges that may arise.\n \n This re...