Cap Energy Ltd

August 27, 2013 10:45 ET

Result of AGM; Consolidation of Ordinary Shares

                                                                                               27 August 2013
                                            CAP ENERGY LIMITED
                                      ("Cap Energy" or the "Company")
                    Result of Annual General Meeting; Consolidation of Ordinary Shares

At  the Annual General Meeting of Cap Energy held earlier today, Tim Hearley, Chairman of the Company, made
the following statement:

"I  am  pleased to report that this year has seen the commencement of important progress by our Cap  Energy
exploration activities.  In particular from major opportunities with the introduction of new leased  assets
in  West Africa and from the major contributions of our strengthened Board of Directors, specifically  from
our  Chief Executive Lina Haidar and her co-Director Alexander Haly, and from our Chief Operating Director,
Pierantonio  Tassini.   In particular, mainly through their business GET, Global Energy  Trade,  both  Lina
Haidar  and Alexander Haly have provided significant funding for Cap Energy, which has enabled our business
to develop.

Shareholders  will  be aware of the recent announcement of the CPR on our two Guinea  Bissau  Leases  which
evaluated  our  Operator,  Trace  Atlantic's 2D Seismic results.   These  are  most  encouraging  and  show
significant  evidence of large-scale oil assets.  These results shall be followed up  soon  by  further  3D
Seismic work to be carried out by our Operator, which is anticipated to be completed by early next year.

The  Board  of  Cap Energy continues to develop strategic plans in order to further expand our  exploration
activities  in  West Africa.  Our present intention is to strengthen our position in Guinea Bissau.   These
assets  have  created a lot of interest from private investors and further funding has been  secured.   New
opportunities are under evaluation and we will report further progress as this occurs.

The further results from our Guinea Bissau assets are expected later this year and the Cap Energy Board  is
most  encouraged by the results to date.  We look forward to being in a position towards the  year  end  to
provide further information to shareholders regarding additional progress.

Finally,  the Board of Cap Energy wishes to thank all shareholders for their past and present interest  and
to  reassure you that we will be continuing to examine best ways for Cap Energy and markets to reflect  our
current and future exploration values."

All the resolutions proposed at the Annual General Meeting were duly passed.

Accordingly, amongst other things, the proposal that every 10 existing ordinary shares of 0.5p each in  the
Company  be  consolidated into 1 new ordinary share of 5p each in the Company ("New Ordinary  Shares")  has
been approved.

Following  the consolidation, the issued share capital of the Company will comprise 5,975,987 New  Ordinary
Shares  and  dealings  in the New Ordinary Shares are expected to commence on Wednesday,  28  August  2013.
CREST  accounts  will  be  credited with New Ordinary Shares on Thursday, 29  August  2013  and  definitive
certificates  for  new  ordinary shares in certificated form will be despatched by Wednesday,  4  September

The ISIN number for the New Ordinary Shares is GB00BCHWWB79.
The Directors of Cap Energy Limited are responsible for the contents of this announcement.

For further information please contact:

Tim Hearley, Chairman
Tel: +44 (0) 7850 390 998

Lina Haidar, Chief Executive Officer
Tel: +44 (0) 20 7491 9196

Corporate Adviser:
Mark Anwyl and Duncan Vasey
Peterhouse Corporate Finance Limited
Tel: +44 (0) 20 7469 0930

CAP Energy Limited
25 Dover Street
London W1S 4LX
Tel: +44 (0) 20 7491 9196

Contact Information

  • Cap Energy Ltd