UK 08:35 Wednesday, 4 November 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
AIM and Dublin ESM-listed Petroneft (PTR) has announced that the second EGM which had been requisitioned by disgruntled shareholders in an attempt to sack the board has been withdrawn. So was the first one - it has all gone happy-clappy in the boardroom!
So the sack-the-board EGM (the sequel) was adjourned at AIM- and Dublin ESM-listed Petroneft (PTR) when it was announced that the company was pleased to announce that it was in advanced discussion with (almost) 30% shareholder and EGM requisitioner Natlata over and agreement on Board and management composition. I hope that not many shareholders bothered to make the trip to Dublin for that, given that it only announced at 2pm on Monday – the day of the 11am EGM.
The supplies of pop-corn are topped up and just as well, for today AIM- and Dublin ESM-listed Petroneft (PTR) has announced that now a second sack-the-board EGM requisition has been received - just two and a half hours before the first of those meetings (today at 11.00am). But it gets more bizarre….
Well, at least this part of the AIM- and Dublin ESM-listed Petroneft (PTR) soap opera won't end up in the hands of the lawyers - not for now at any rate. (Almost) 30% shareholder, Natlata - which has requisitioned a sack-the-board EGM - has had the restriction notice served upon it lifted by the company. We await news of the second restriction notice which was served upon General Interest Overseas S.A. which held a further 10.7%.
AIM- and Dublin ESM-listed Petroneft (PTR) has hit back at its requisition-hungry and (just shy of) 30% shareholder Natlata, which has forced a sack-the-board EGM to be called (for the second time). Yesterday Natlata complained that it had been handed a Restriction Notice which would prevent it from taking part in the EGM. Today Petroneft has announced that it has, in fact, handed out not one but two Restriction Notices.
I would not like to say who is right and who is wrong, but it will certainly be an interesting to follow events at AIM- and Dublin ESM-listed Petroneft (PTR) in the run-up to an EGM shin-dig on 18 April. The largest shareholder, BVI-registered Natlata Partners Ltd (with just under 30% of the shares) requisitioned a sack-the-board EGM. Now it seems that the incumbent board has issued a Restriction Notice to Natlata preventing it from attending, speaking or voting at the EGM. The handbags are out!
