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LONDON - Pennpetro Energy Plc (LSE:PPP) will hold a General Meeting of shareholders on July 3, 2025, at 11:00 a.m. in London to seek authorization for issuing new ordinary shares, the company announced Tuesday in a press release.
The meeting aims to obtain shareholder approval to issue 62,633,333 ordinary shares of £0.01 each. These shares stem from historical arrangements previously announced to shareholders on March 28, 2023, and July 12, 2023, along with subsequent shareholder contributions.
The shares in question were contributed by existing shareholders and a lender who was due to receive ordinary shares in lieu of debt owed to them, according to the company statement.
Pennpetro indicated that following shareholder approval, it plans to apply for admission of the new ordinary shares to listing after the company’s shares return from suspension.
The company will distribute copies of the General Meeting Notice and Form of Proxy to all shareholders.
Pennpetro Energy is listed on the London Stock Exchange (LON:LSEG) under the ticker PPP.
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