공시 • Jun 15
Pavel Tetyakov completed the acquisition of Lineynoye LLC from PetroNeft Resources plc (ISE:P8ET) and Belgrave Naftogas BV. Pavel Tetyakov entered into a non-binding conditional Heads of Terms to acquire Lineynoye LLC from PetroNeft Resources plc (ISE:P8ET) and Belgrave Naftogas BV for RUB 210 million on June 14, 2023. Pavel Tetyakov entered into a agreement to acquire Lineynoye LLC from PetroNeft Resources plc (ISE:P8ET) and Belgrave Naftogas BV on August 1, 2023. PetroNeft owns 90% of Lineynoye with the remaining equity being owned by Belgrave Naftogas. The Proposed Disposal is subject, inter alia, to the execution of a formal binding sales and purchase agreement. If agreed, the Proposed Disposal would be subject to all applicable corporate and government approvals, as well as approval of independent shareholders of the Company under AIM and Euronext Growth Rules. As of September 18, 2023, PetroNeft announced notice of an Extraordinary General Meeting ('EGM') where a resolution will be put before shareholders to approve the proposed disposal of PetroNeft's Russian business and assets. Brian Garrahy and Ciara O'Mongain of Davy Corporate Finance Limited acted as financial advisors to the independent directors of PetroNeft Resources. As on October 12, 2023, Shareholders of the PetroNeft Resources agreed on the sale. The Expected Completion of the Proposed Disposal will be on November 30, 2023.
Pavel Tetyakov completed the acquisition of Lineynoye LLC from PetroNeft Resources plc (ISE:P8ET) and Belgrave Naftogas BV for RUB 210 million on June 14, 2024, which is an estimated completion date. 공시 • Dec 22
The Admission of PetroNeft Resources plc's Ordinary Shares to Trading on AIM and Euronext Growth to Be Cancelled on or Around 2 January 2024 On 14 June 2023, and subsequently, on 1 August 2023, PetroNeft Resources plc announced that it had reached agreement for the sale of its Russian business interests to Pavel Tetyakov, CEO of PetroNeft. Shareholders approved the disposal of the Company's Russian business interests to Pavel Tetyakov, CEO of PetroNeft at the EGM on 12 October. Whilst all agreements are finalised, the Company still awaits final approval from the Russian government committee to enable the transaction to proceed. The Company had originally hoped that the sale of its Russian assets would occur in sufficient time to provide capital and time to source an auditor in respect of the Company's financial statements for the financial year ended 31st December 2022. However due to ongoing delays regarding the completion, the Company has been unable to secure the services of an auditor and it is therefore with regret that the Company will be unable to publish the 2022 Annual Report by 31 December 2023. Consequently, the admission of the Company's ordinary shares to trading on AIM and Euronext Growth will be cancelled on or around 2 January 2024. The Board and Management will continue to work to close the disposal of the Company's Russian assets in a timely fashion. Following closing of the sale, the proceeds will be used for full and final settlement of loan amounts outstanding pursuant to updated loan agreements, and the residual funds will be used to settle trade creditors and remaining staff salaries. Once payables have been satisfied, the Board will seek shareholder approval to close the Company through an orderly wind up. New Risk • Oct 01
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2022. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2022 fiscal period end). Market cap is less than US$10m (€535.9k market cap, or US$566.5k). Board Change • Jun 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Eskil Jersing was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Jun 15
Pavel Tetyakov entered into a non-binding conditional Heads of Terms to acquire LLc Lineynoye from PetroNeft Resources plc (ISE:P8ET) and Belgrave Naftogas BV for RUB 210 million. Pavel Tetyakov entered into a non-binding conditional Heads of Terms to acquire LLc Lineynoye from PetroNeft Resources plc (ISE:P8ET) and Belgrave Naftogas BV for RUB 210 million on June 14, 2023. PetroNeft owns 90% of Lineynoye with the remaining equity being owned by Belgrave Naftogas. The Proposed Disposal is subject, inter alia, to the execution of a formal binding sales and purchase agreement. If agreed, the Proposed Disposal would be subject to all applicable corporate and government approvals, as well as approval of independent shareholders of the Company under AIM and Euronext Growth Rules. Brian Garrahy and Ciara O'Mongain of Davy Corporate Finance Limited acted as financial advisors to the independent directors of PetroNeft Resources. Board Change • May 22
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Eskil Jersing was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 