QOGT Quorum Oil &Gas

 

TIDMQOGT 
 
RNS Number : 0731T 
Quorum Oil and Gas Tech. Fund Ld 
22 September 2010 
 

  Not for release, publication or distribution in, or into, the United States, 
                          Canada, Australia or Japan. 
 
+------------------------------+------------------------------+ 
| Press Release                |            22 September 2010 | 
+------------------------------+------------------------------+ 
 
 
                   Quorum Oil and Gas Technology Fund Limited 
                                (the "Company") 
 
                      Withdrawal of EGM requisition notice 
 
The directors of Quorum Oil and Gas Technology Fund Limited (LSE:QOGT) announced 
on 31 August 2010 that the Company had received a notice requisitioning a 
general meeting from certain shareholders of the Company ("Requisition 
Shareholders") for the purpose of considering resolutions for the appointment of 
three prospective new directors ("Proposed Directors") and the removal of the 
current directors. 
 
The directors had in any event determined to publish proposals and on 1 
September 2010 gave notice of a general meeting to be held on 28 September 2010. 
 The directors believe that the business of the meeting on 28 September 
substantively addresses the notice received by the Requisition Shareholders 
given that the existing directors have confirmed that they will resign if the 
appointment of SGW Capital Managers as investment manager of the Company is not 
approved, and that subsequently the Proposed Directors are appointed at the EGM. 
 
The directors and the Requisition Shareholders consider that convening a further 
general meeting in accordance with the requisition notice would not be in 
shareholders' interests as it would serve to incur further costs and potentially 
prolong uncertainty over the Company's future. 
 
The directors hereby announce that in light of the above analysis they do not 
intend to convene a general meeting in accordance with the requisition notice 
and following discussions with connected parties of the Requisition 
Shareholders, the Requisition Shareholders have confirmed that they do not 
intend to exercise their right to convene a second EGM in the timeframe provided 
for in the Company's articles of association. 
 
                                    - Ends - 
 
For further information: 
+----------------------------------------+---------------------+ 
| Corporate Broker                       |                     | 
+----------------------------------------+---------------------+ 
| Numis Securities                       |                     | 
+----------------------------------------+---------------------+ 
| Nathan Brown, Corporate Broking        |     Tel: +44 (0) 20 | 
|                                        |           7260 1275 | 
+----------------------------------------+---------------------+ 
| n.brown@numiscorp.com                  |                     | 
+----------------------------------------+---------------------+ 
 
Media enquiries: 
+----------------------------------------+-------------------------+ 
| Abchurch                               |                         | 
+----------------------------------------+-------------------------+ 
| Henry Harrison-Topham / Mark Dixon     |         Tel: +44 (0) 20 | 
|                                        |               7398 7702 | 
+----------------------------------------+-------------------------+ 
| henry.ht@abchurch-group.com            | www.abchurch-group.com  | 
+----------------------------------------+-------------------------+ 
 
 
Notes to editors: 
 
Quorum Oil and Gas Technology Fund Limited ("Q-OGT") is a registered 
closed-ended investment company incorporated in Guernsey to provide expansion 
capital to companies which own and/or are developing proven proprietary 
technology which may have a potentially significant effect on the oil and gas 
industry. Q-OGT was admitted to the Official List of the UK Listing Authority 
and to trading on the London Stock Exchange on 7 January 2008. Its stock market 
EPIC is QOGT.L. Further information can be found at www.q-ogtfund.com. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCLLFFRAEILFII 
 

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