Result of AGM
02 7월 2009 - 9:33PM
UK Regulatory
TIDMLPP
RNS Number : 0258V
Lapp Plats Plc
02 July 2009
2 July 2009
Lapp Plats plc (to be renamed Cove Energy plc)
Result of AGM
Lapp Plats plc ("Cove Energy") is pleased to announce that following its AGM
held earlier today all resolutions were duly passed.
With regards to the proposed changes to the Board, company strategy and change
of name as announced on 27 May 2009, the Company would like to confirm that
shareholder approval was unanimously given. Following this, the Board is pleased
to announce that effective from the market open on Monday 6 July 2009, the
Company will be known as Cove Energy plc, with the ticker 'COV'.
Cove Energy's renewed operational focus and strategy is to identify and acquire
oil and gas assets in the early phase of the upstream life-cycle and mature them
into marketable opportunities for the medium and larger oil and utility
companies. The Company's initial focus will be on Africa and the Mediterranean.
The Company will be "opportunity driven" but the objective is to target assets
in areas where larger oil companies are not yet active or have overlooked
opportunities. Cove Energy will also seek out assets owned by companies in
distress as a result, for instance, of the current global economic climate.
Michael Blaha, Chairman of Cove Energy plc, said:
"We are delighted to have received unanimous shareholder support for our renewed
strategic direction, name change and Board. Following the announcement of our
successful placing of shares to raise GBP4.2m on 29 June 2009, we are now in the
position to realise our new strategic direction and look forward to updating the
market as to our progress."
-Ends-
For further information, please contact:
+----------------------------------------------+-------------------------+
| Lapp Plats plc | |
+----------------------------------------------+-------------------------+
| John Craven, CEO | Tel: + 353 1 662 4351 |
| Michael Nolan, Company Secretary | |
+----------------------------------------------+-------------------------+
+----------------------------------------------+-------------------------+
| Cenkos Securities | |
+----------------------------------------------+-------------------------+
| Jon Fitzpatrick / Ken Fleming | Tel: +44 (0)131 220 |
| | 6939 |
+----------------------------------------------+-------------------------+
+----------------------------------------------+-------------------------+
| Financial Dynamics | |
+----------------------------------------------+-------------------------+
| Billy Clegg / Edward Westropp | Tel: +44 (0)20 7831 |
| | 3113 |
+----------------------------------------------+-------------------------+
Note to Editors:
Cove Energy's strategy is to identify and acquire oil and gas assets in the
early phase of the upstream life-cycle and mature them into marketable
opportunities for the medium and larger oil and utility companies. The Company's
initial focus will be on Africa and the Mediterranean. The Company will be
"opportunity driven" but the objective is to target assets in areas where larger
oil companies are not yet active or have overlooked opportunities. Cove Energy
will also seek out assets owned by companies in distress as a result, for
instance, of the current global economic climate.
The Company intends to operate with a minimum level of staffing but with a
larger experienced "virtual" skills-pool from where it can draw on relevant
experience on a case-by-case basis. The Company intends at the outset to partner
and joint venture with investors and associates who will support Cove Energy
with commercial skills and influence in areas where the Company intends to grow
its business.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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