Wessex Exploration : Result of Requisitioned General Meeting



WESSEX EXPLORATION PLC

(AIM: WSX)

Result of Requisitioned General Meeting

Board Strategy Endorsed

Wessex Exploration PLC ("Wessex" or "the Company"), the hydrocarbon exploration company, is pleased to announce that at the General Meeting held at 2pm today, which had been convened on a requisition from Milroy Capital Ltd ("Milroy Capital") and Mr Frederik Dekker (together "the Requisitionists"), all the resolutions proposed by the Requisitionists were defeated.

The results of the proxy voting showed that almost twice as many shareholders, including all the leading institutional shareholders, had voted against the proposals put forward by Milroy Capital and Mr Dekker. Other than the shareholdings controlled by Milroy Capital and the Dekker family only approximately 3% of shareholders supported the Requisitionists. The Board believes this vote is evidence of a clear endorsement of its chosen strategy, including the proposed acquisition of assets capable of  near-term production in the Far East.

Malcolm Butler, Chairman, commented:

"We are pleased to have received the overwhelming support of shareholders for our strategy, which includes the proposed acquisition of HALO as announced on 12 May 2014. This ends the period of corporate distraction for the management team to allow us to focus fully on the implementation of the growth strategy to restore shareholder value.  We look forward to pushing on with both our recently announced new venture as well as developing the rest of the portfolio."

For further information please contact:

Wessex Exploration PLC	www.wessexexploration.com
Andy Yeo, Chief Financial Officer	[phone]
WH Ireland Limited	www.wh-ireland.co.uk`
John Wakefield (Corporate Finance)	[phone]
Yellow Jersey PR	[phone]
Dominic Barretto	[e-mail]

This information is provided by RNS

The company news service from the London Stock Exchange

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