Business
Final results & notice of AGM
Final results & notice of AGM.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n \nRNS Number : 2048H Rose Petroleum PLC 06 June 2017 \n\n 6 June 2017\nRose Petroleum plc\n(\"Rose\", the \"Company\" or the \"Group\")\n \nFinal results for the year ending 31 December 2016\nand notice of annual general meeting\n \nRose (AIM: ROSE), the AIM quoted natural resources business, announces its final results for the year to 31 December 2016. \n \nThe Company also announces that its Annual General Meeting of shareholders (\"AGM\") will be held at 9:30 am on 29 June 2017 at the offices of Allenby Capital Limited, 3 St. Helen's Place, London EC3A 6AB. \n \nA copy of the Company's annual report and accounts, which include the notice of AGM, will be available on its website, www.rosepetroleum.com, shortly and will be sent to shareholders later today.\n \nEnquiries:\n \n\n\n\n\nMatthew Idiens (CEO)\nChris Eadie (CFO)\n \n\n\nRose Petroleum plc\n\n\nTel: +44 (0) 20 7225 4595\nTel: +44 (0) 20 7225 4599\n\n\n\n\nJeremy Porter / James Reeve /\nLiz Kirchner\n \n\n\nAllenby Capital Limited\n \n\n\nTel: +44 (0) 20 3328 5656\n \n\n\n\n\nJames Pope / Ben Turner\n \n\n\nTurner Pope Investments\n\n\nTel: +44 (0)20 3621 4120\n\n\n\n\n \n \nChairman's Statement\n \nIn the Company's Interim Results statement for 2016, published in September 2016, it was outlined that the recent period has been one of restructuring, consolidation and transformation for the Group. This has been a continuing theme in the period since, and the Board has continued to adopt a strategy to ensure that the Group is positioned to create value from its existing assets while being flexible and agile to take advantage of opportunities that arise both before and after a recovery in the natural resources sector. Conserving existing cash resources has also been a key priority during the period. \nThere is no doubt that the prevailing market conditions of the last few years have provided the Board with an extremely challenging backdrop against which to operate, but the decisive action of the Board has sought to de-risk and safeguard the existing asset portfolio, reduced liabilities and operational overheads and enabled us to identify and chase some very convincing potential opportunities.\nDespite the withdrawal from the Mancos acreage, and disposal of the Cisc...