TIDMGED

RNS Number : 3409W

Global Energy Development PLC

08 February 2017

Immediate Release 8 February 2017

GLOBAL ENERGY DEVELOPMENT PLC

(the "Company" or "Global")

RESULT OF GENERAL MEETING

Global Energy Development PLC (AIM: GED), is pleased to announce that the Resolution put to Shareholders at the General Meeting of the Company, held earlier today, was duly passed. The Resolution was required to approve the acquisition of 11 offshore subsea service vessels and a barge vessel and the change of company name to Nautilus Marine Services PLC all of which are conditional on Admission.

As shareholder approval has now been received, as required under Rule 14 of the AIM Rules, the admission of the Company's Ordinary Shares to trading on AIM will be cancelled (immediately prior to Admission) and the re-admission of the Company's Ordinary Shares to trading on AIM and dealings in such Ordinary Shares will take place at 8.00 a.m. on 9 February 2017 ("Admission").

The Company's change of name has now been registered at Companies House and the change is effective on Admission. In addition, the Company's TIDM ('GED') will be changed to 'NAUT' and the Company's website, at which all information required pursuant to Rule 26 of the AIM Rules for Companies can be found, changed to www.nautilusmarineplc.com, both of which are also effective on Admission.

Following Admission, the total number of Ordinary Shares in issue will be 36,112,187. There are no shares held in treasury. Accordingly, the total number of voting rights in the Company on Admission will be 36,112,187. This figure may be used by Shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

After Admission, significant shareholders in the Company and Directors' shareholdings will be as follows:

 
                                       Number        % 
 HKN Inc. and Parties 
  in Concert                       22,567,016   62.49% 
 Barclays Wealth Mgmt 
  (UK)                              1,246,359    3.45% 
 Hargreaves Landsdown Asst Mgmt     1,220,926    3.38% 
 TD Direct Investing                1,031,923    2.86% 
 Thelese (Mr & Mrs D Worley)        1,090,542    3.02%

Directors' beneficial shareholdings:

 
                    Number       % 
 Mikel Faulkner    370,000   1.02% 
 Alan Henderson     14,291   0.04% 
 Zac Phillips       15,241   0.04% 
 David Quint       135,000   0.37%

Enquiries:

Global Energy Development PLC

 
Anna Williams, Director of           +1 817 424 2424, 
  Strategy and Business Development            ext 110 
 awilliams@globalenergyplc.com 
  www.globalenergyplc.com 
 
 
 finnCap LtdChristopher Raggett/Scott 
   Mathieson/Kate Bannatyne (Corporate 
   Finance)                               0207 220 0500 
  Emily Morris (Corporate Broking) 
 
  Abchurch 
   Tim Thompson/Rebecca Clube             0207 398 7700 
 
  globalenergy@abchurch-group.com

Capitalised terms shall have the same meaning as in the Admission Document posted to shareholders on 16 January 2017 unless the context requires otherwise.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

END

ROMSSUFSAFWSEFE

(END) Dow Jones Newswires

February 08, 2017 05:22 ET (10:22 GMT)

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