Business
Proposed Adjournment of AGM
Proposed Adjournment of AGM.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n United Overseas Group PLC\n18 June 2001\n\n\n United Overseas Group plc (the 'Company')\n\n Proposed adjournment of Annual General Meeting ('AGM') on 21st June 2001\n\n\nFurther to the announcement of 23 May 2001 with regard to the injection of new\nequity funds into the Company, the Board announces that discussions with the\nbank and major shareholders are progressing well. The Board expects to write\nto shareholders in early July outlining its plans for a restructuring of the\nshare capital and a substantial rights issue underwritten by the major\nshareholders.\n\n\nIn the current circumstances, the Board believes that it is inappropriate to\nhold the Company's AGM until shareholders are in possession of all information\nabout the restructuring and the plans for the future of the Group.\nAccordingly, at the AGM to be held on 21 June 2001, the Board intends to ask\nshareholders to agree to adjourn the meeting without considering any of the\nresolutions and to reconvene it for a date to coincide with a proposed\nExtraordinary General Meeting at which proposals will be put forward in\nconnection with the restructuring of the Group's share capital.\n\n\nEnquiries:\n\n\nMichael Corke United Overseas Group plc Tel: 01733 362300\n\n(Group Chief Executive)\n\n\nTim Worlledge Williams de Broe plc Tel: 020 7588 7511\n\nAlastair Stratton (Financial advisers to United Overseas Group plc)\n\n\n\n \n \n ","length":1506,"tagName":"div"}]