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RNS Number : 9980V

Hague and London Oil PLC

22 April 2016

22 April 2016

Hague and London Oil PLC

("Company", "HALO")

Notice of Annual General Meeting,

Retirement of Director

and

Notification to Shareholders in accordance with FRS101

Hague and London Oil PLC announces that the Notice of the 2016 Annual General Meeting ("AGM") has been posted to shareholders.

The AGM is to be held at 11.00 a.m. BST on Thursday 26 May 2016 at the offices of Ashfords LLP, at Tower Wharf, Cheese Lane, Bristol, BS2 0JJ.

An explanatory circular containing the Notice of AGM and the Proxy Form will shortly be available for download from the Company's website at: www.haloil.nl

Retirement of Director

Dr. Malcolm Butler has recently informed the Company of his plans to retire from office at the upcoming AGM and therefore does not propose presenting himself for re-election. The Company would like to thank Dr. Butler for his dedicated service and invaluable advice during his time as a director. The Company has identified a number of potential candidates and will appoint a director in place of Dr. Butler in due course.

Notification to Shareholders in accordance with FRS101

The Company announces that it has also posted a letter to shareholders, the full text of which is set out below:

"Hague and London Oil PLC's (the "Company") parent company financial statements contained in the Company's Annual Report for the year ended 31 December 2015 (the "2015 Report") were prepared in accordance with UK Generally Accepted Accounting Practice ("UK GAAP"). The 2015 Report can be found on the Company's website at www.haloil.co.uk.

A new UK GAAP accounting framework introduced by the Financial Reporting Council ("FRC") becomes mandatorily effective for the financial statements of UK companies with accounting periods commencing on or after 1 January 2015. Under this new framework, the Company is required to elect to prepare its parent company financial statements on one of the bases permitted by the FRC. The consolidated financial statements of the Company's group will continue to be prepared in accordance with EU-adopted IFRS and are unaffected by this new accounting framework.

The Company proposes to adopt FRS 101, a reduced disclosure regime, for its parent company financial statements for the year ended 31 December 2016 and on an on-going basis until such time as the Company notifies shareholders of any change to its chosen accounting framework for the parent company financial statements.

The Company's election to adopt FRS 101 for its parent company's financial statements does not require shareholder approval. However, as stipulated in FRS 101, the Company is required to notify all shareholders of this election. Any shareholder or shareholders holding in aggregate 5 per cent. or more of the total allotted shares in the Company may serve an objection. Objections must be served in writing and delivered to the Company Secretary, Hague and London Oil PLC, 6 Charlotte Street, Bath, BA1 2NE, United Kingdom by no later than 20 May 2016.

Brian Marshall

Company Secretary"

A copy of the letter will also be available on the Company's website: www.haloil.nl

For further information please contact:

 
                                         +44 20 7520 
 Hague and London Oil PLC                 9268 
 Andrew Cochran, Chairman 
  and Interim CEO 
 Natalia Erikssen, IR/PR enquiries 
 
 Stifel Nicolaus Europe Limited         +44 20 7710 
  (NOMAD & Broker)                       7600 
 Michael Shaw / Ashton Clanfield 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 22, 2016 02:00 ET (06:00 GMT)

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