February 01, 2013

Further to the announcement dated 25 January 2013, Ruspetro plc ("Ruspetro" or the "Company") is today posting a circular to shareholders in relation to the proposed conversion into ordinary shares in Ruspetro plc of outstanding debt owed to Limolines Transport Limited ("Limolines") by Ruspetro Holding Limited.

In January 2012, Limolines, Ruspetro's largest shareholder, Ruspetro Holding Limited and the Company entered into a deed of amendment (the "Deed of Amendment"), pursuant to which they agreed that the Company would, subject to certain conditions, issue new ordinary shares to Limolines on the date that is 13 months from the date of Admission, in full and final satisfaction of Limolines' loan to the Company (the "Conversion"). On the 25 January 2013 the Company and Limolines entered into a supplemental deed to vary the terms of the Deed of Amendment such that the conversion price would be fixed at 134 pence per share.

The Directors have therefore convened a general meeting of shareholders on 18 February 2013 at 10.30 a.m. to obtain the necessary shareholder approvals required for the Conversion. This will be held at the offices of White & Case LLP, 5 Old Broad Street, London EC2N 1DW.

  • Notice of General Meeting and Circular (PDF, 178KB)
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