Announcement • Sep 14
Bowleven Announces Cancellation of Admission of the Ordinary Shares to Trading on AIM, Effective 24 September 2024 Bowleven plc announced further to its announcement of 9 August 2024, and subsequent approval by the Shareholders of the Cancellation at the General Meeting on 28 August 2024, Bowleven has been notified that acceptances have been received from Minority Shareholders holding in aggregate 268,357,452 ordinary shares of 0.1 pence each (the ‘Ordinary Shares’) under the Exit Opportunity, which closed for acceptances at 1:00 p.m. on 11 September 2024. Following settlement of the transfers of the Ordinary Shares for which acceptances have been received, which is expected to take place by 25 September 2024, Crown Ocean Capital will be interested in 1,368,345,376 Ordinary Shares, representing 72.6% of the Company's issued share capital (excluding shares held in treasury). The Company confirmed that, in line with the timetable included in the circular published by the Company on 9 August 2024 (the ‘Circular’), following the approval of Shareholders at the General Meeting held on 28 August 2024, the last day of dealings in the Company's Ordinary Shares on AIM is expected be 23 September 2024 and the admission to trading on AIM of the Company's Ordinary Shares is expected to be cancelled at 7.00 a.m. on 24 September 2024. Following Cancellation, the Company will reregister as a private company under the name Bowleven Limited. Announcement • Jul 22
Bowleven plc Appoints Mark Vermeulen as a Non-Executive Director Bowleven plc announced that Mark Vermeulen has been appointed as a Non-Executive Director with immediate effect. Mark is a partner, Chief Investment Officer and fund manager at Ophorst van Marwijk Kooy Vermogensbeheer NV ("OVMK"), a value-oriented investment firm focussed on both mid and small-cap equities in the UK, Hong Kong and Europe, and high-yield bonds. He has spent the last 15 years managing a range of international bond and value funds for OVMK, with significant exposure to oil & gas related investments. He has previously worked at Dresdner Bank as an analyst across a number of international equity funds. Mark is a CFA Charterholder. New Risk • Apr 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 483% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Shareholders have been substantially diluted in the past year (483% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£2.83m market cap, or US$3.57m). 
