Regulatory news announcement

Notice of GM 2019

1 March 2019

Karoo Energy plc

(“Karoo Energy” or the “Company”)



Karoo Energy is pleased to announce that the Company intends to admit to AIM as soon as practically possible. Any fundraising is conditional upon the Company having sufficient authorities to issue shares. In order to facilitate the proposed Placing, pursuant to its intended AIM move, it is necessary for the Directors to seek authority from Shareholders, under the Companies Act 2006, at the General Meeting, to, inter alia, issue the Placing Shares.

Therefore a general meeting notice is being posted and notified to shareholders so that they can approve the necessary fundraising and the corresponding allotment of shares in return for cash.

As previously announced in January 2018, the Company progressed, particularly with our exploration programme. We announced that exploration work in the Gemsbok Basin covered by the Company’s Prospecting Licences EL001/2012 and PL171/2015 had produced results which confirm the geological model for the Company’s exploration programme. This model, based on multiple research projects, including deep boreholes and seismic surveys, undertaken by the Department of Geological Survey of Botswana and other published academic works, predicts a deep sedimentary basin, the Gemsbok Basin, infilled by Karoo Supergroup sedimentary rocks underlain by Nama Group sedimentary rocks. Both groups of rock, Karoo and Nama, are known to contain organic shales which form the target for this exploration project.


The General Meeting of the Company will be held at the offices of Peterhouse Capital Limited, 3rd Floor, New Liverpool House, 15 Eldon Street, London, EC2M 7LD on Monday, 18 March 2019 at 11.00 a.m.

Notice of the General Meeting has been posted to shareholders and is available on the Company’s website at the following link

The Directors of the Company accept responsibility for the content of this announcement.



Karoo Energy plc
Noel Lyons
Telephone: 020 3130 0674

Corporate Adviser

Peterhouse Capital Limited
Guy Miller / Mark Anwyl
Telephone: 020 7220 9795