Investor deep dive
Oracle Power arranges finance to tide it over until formal agreement for Thar
Result of AGM
16 July 2019
Oracle Power PLC
("Oracle", the "Company" or the "Group")
Results of AGM
Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite mineral resource and mine mouth power plant located in the Thar desert in the south-east of Sindh Province, Pakistan, announces today that it has held its Annual General Meeting (the "AGM").
The Company advises that, further to its announcement earlier today, resolution 4 was withdrawn from the business of the AGM.
The Directors of the Company confirm that all resolutions put to shareholders at the AGM were duly passed.
At the AGM, Naheed Memon, CEO of Oracle, gave a short presentation to shareholders, which included a statement that the Company expects Financial Close to occur in the second half of 2020, which updates the previous expectation of Q4 2019.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information please contact:
Oracle Power PLC
+44 (0) 20 3580 4316
Strand Hanson Limited (Nominated Adviser)
Rory Murphy, James Harris, Jack Botros
+44 (0) 20 7409 3494
Brandon Hill Capital Limited (Joint Broker)
+44 (0) 20 3463 5000
Peterhouse Corporate Finance (Joint Broker)
+44 (0) 20 7220 9791
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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