Dollar rebounds despite Fed independence worries; euro slips
LONDON - Sunda Energy Plc (AIM:SNDA), an AIM-listed company engaged in the exploration and appraisal of gas assets in Southeast Asia, has announced the successful passage of all resolutions at its General Meeting held today. The resolutions are pivotal for the company’s planned issuance of Loan Notes and the future grant of Warrants, as well as the completion of a Farm-In Agreement with TIMOR GAP, a government-owned joint venture partner.
The company reported that an overwhelming majority of votes cast were in favor of the proposed resolutions. Specifically, the first resolution to authorize the Directors to issue and allot new shares received 98.61% approval, with 3,322,725,423 votes for and 46,954,162 against. The second special resolution to disapply pre-emption rights for the first resolution saw 98.27% votes in favor, with 3,289,226,765 supporting and 57,810,078 opposing.
These approvals provide Sunda Energy with the necessary authorities to proceed with its strategic initiatives, which were detailed in an announcement on April 24, 2025. The Farm-In Agreement with TIMOR GAP, which remains conditional upon securing a drilling rig contract for the Chuditch-2 well and receiving approval from the upstream regulator ANP, is a significant step forward for the company’s operations in the region.
Shareholders and interested parties can access an updated corporate presentation from today’s General Meeting on Sunda Energy’s website. The company has stated that further announcements will be made as appropriate, following the meeting’s outcomes.
The passing of these resolutions marks a key milestone for Sunda Energy as it continues to navigate the complexities of Southeast Asian gas exploration and appraisal. The company’s share capital consists of 25,510,783,788 ordinary shares, with each share carrying one vote. Votes withheld are not considered in the calculation of the vote percentages.
The information in this article is based on a press release statement from Sunda Energy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.