INVESTOR INFO NAVIGATION

Investor Information

This page, last updated 07 March 2013, sets out the relevant information in order to comply with the company information disclosure requirements of Rule 26 of the AIM Rules for Companies.

1 Business Description

Sirius Petroleum is an independent oil development company whose shares are quoted on the AIM of the London Stock Exchange. The Company is currently considering a number of opportunities in the oil and gas sector with particular focus in Nigeria. Sirius has an agreement in place with Taglient Oil Nigeria Limited, a Nigerian private company owned and managed by Nigerian nationals who have considerable knowledge and contacts within the Nigerian Oil industry.

2 Company Directors

Jack Pryde, (Non-Executive Chairman) - is a chartered certified accountant and has held various senior management positions in the investment banking industry. He is a former director and head of corporate finance at Henry Ansbacher & Co. and a former vice-president of corporate finance at Canaccord Capital. He left Jefferies International as director of equity capital markets in May 2010. He has extensive experience of advising companies in the resource and energy sectors.

Bobo Kuti, (Chief Executive Officer) - joined the Board as a Non-Executive Director in August 2008.  Since joining Sirius, he has advised the Company on its geo-political and business development strategy for West Africa, and has been instrumental in successfully establishing the Company’s business network in Nigeria. He formerly worked as an investment advisor for the South African investment fund, Huxton Capital and has a Bachelor of Arts from Duke University, USA studying Economics & Psychology.

Stephen Fletcher, (Finance Director), BSc (Econ), has over 25 years’ experience in investment banking and management consultancy.  He was formerly chief operating officer of AIM-quoted Crosby Capital Partners Ltd. and Hong Kong GEM listed Techpacific where he gained extensive experience of investing in natural resource companies, with a particular focus on the oil and gas industry.  Previously he worked as chief operating officer of Nomura’s International Markets Division and, prior to that, at Credit Suisse First Boston.  Stephen has a BA from Oxford University and graduated from Manchester Business School with an MBA in 1987.

Ajay Kejriwal, (Non-Executive Director) - has over 20 years’ experience in finance and commerce, and is currently a consultant to Juniper Capital, a natural resource investment and advisory business. Prior to Juniper he was Managing Director at Crosby Capital Partners Ltd where he led many investment transactions across oil and gas, mining, real estate and asset management sectors, and was a member of the firm’s Executive Committee. He previously worked for the Principal Investments business at Nomura in London and Hong Kong.  Mr Kejriwal is a Chartered Accountant, having qualified with PriceWaterhouseCoopers in 1994.

 

3 Director’s Responsibilities

There are currently two Non-Executive Directors and two Executive Directors on the Board.  The Non-Executive directors are responsible for preparing the accounts in accordance with applicable law and regulations.  Company law requires the directors to prepare accounts for each financial year.  Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).  The accounts are required by law to give a true and fair view of the state of affairs of the group and of the company and of the profit or loss of the group for that period.

In preparing the Company’s accounts, the directors are required to:

The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the group and to enable them to ensure that the accounts comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Directors will implement such corporate governance procedures and establish such committees of the Board as will be required, including audit and remuneration committees, for it to comply with the terms of the Combined Code upon completion of the first significant acquisition by the Company, in so far as is appropriate for a company of its size.  The Directors have established financial controls and reporting procedures which are considered appropriate given the size and structure of the Company. These controls will be reviewed in light of significant acquisitions and adjusted accordingly.

Corporate Governance
Directors
The Company supports the concept of an effective board leading and controlling the Company. The Board is responsible for approving Company policy and strategy. It meets on a regular basis and has a schedule of matters specifically reserved to it for decision. Management supply the Board with appropriate and timely information and the Directors are free to seek any further information they consider necessary. All Directors have access to advice from the Company Secretary and independent professional advice at the Company’s expense.
The Board consists of two executive and four non-executive Directors, who bring a breadth of experience and knowledge. This provides a balance whereby the Board’s decision making cannot be dominated by an individual. The Chairman of the Board is Mr Jack Pryde.
Relations with shareholders
The Company values the views of its shareholders and recognises their interest in the Group’s strategy and performance. The Annual General Meeting will be used to communicate with private investors and they are encouraged to participate. The Directors will be available to answer questions. Separate resolutions will be proposed on each issue so that they can be given proper consideration and there will be a resolution to approve the annual report and accounts.
Internal control
The Board is responsible for maintaining a strong system of internal control to safeguard shareholders’ investment and the Group’s assets and for reviewing its effectiveness. The system of internal financial control is designed to provide reasonable, but not absolute, assurance against material misstatement or loss.
An audit committee has been established, comprised of Mr Hirschfield (Chairman) and Mr Hayward, which meets at least half yearly and is responsible for ensuring that the financial performance of the Group is properly monitored and reported on, as well as meeting the auditors and reviewing any reports from the auditors regarding accounts and internal control systems.
The Board has considered the need for an internal audit function but has decided the size of the Group does not justify it at present. However, it will keep the decision under annual review.

4 Incorporation

Sirius Petroleum Plc is incorporated in England and Wales (Company no. 05181462) and its main country of operation is UK with operating subsidiaries in Nigeria.

5 Constitutional Documents

Copies of the Company’s constitutional documents can be downloaded below:

Articles of Association

Memorandum of Association

6 Shares in issue

The number of shares in issue is 1,019,730,666 and there are no shares held in treasury.  Insofar as the Company is aware, the percentage of AIM securities that is not in public hands is 9.92%

7 Major shareholdings

As at 20th March 2014, the Company is aware of the following shareholders holding 3 per cent. or more of the issued share capital of the Company:

Platform Securities Nominees13.08%
Secure Nominees Limited10.25%
HSBC Global Custody Nominee (UK)9.05%
Barclayshare Nominees Ltd7.58%
Lynchwood Nominees Ltd6.35%
Huntress (CI) Nominees Ltd6.00%
W B Nominees Limited4.89%

TR1 notices should be sent to Kitwell Consultants Ltd. Fax: +44 (0) 844 8157 349

8 Share restrictions

There are no restrictions on the transfer of Sirius Petroleum’s shares.

9 Exchange/trading platforms

The securities of Sirius are traded on AIM, the market of that name operated by London Stock Exchange plc.  Its shares have not been admitted, nor have any applications been made, for any of its shares to be admitted or traded on any other exchanges or trading platforms.

10 Financial reports

The most recent published annual report and interim report can be accessed here in addition to the Company’s AIM Admission document. Right click and save as to download:

Sirius Final Results for the year ended 31 December 2013

Sirius Petroleum’s Interim Results June 2013

Sirius Annual Return 2012 FINAL

Interim Results for 6 months ended 30 June 2012

Annual Report and Financial Statements for 12 months ended 31 December 2011

Interim Results for 12 months ended 30 June 2011

Annual Report and Financial Statements for 17 months ended 31 December 2010

Annual Report and Financial Statements for the year ended 31 July 2009

Annual Report and Financial Statements for the year ended 31 July 2008, AGM Notice & Form of Proxy

Sirius Petroleum AIM Admission document

Circular - EGM Notice - Name change to Sirius Petroleum plc

Annual Report and Financial Statements for the year ended 31 July 2007

Annual Report and Financial Statements for the year ended 31 July 2006

Proposed Acquisition and notice of ECM, May 2005

11 All notifications made by us in the last 12 months

A copy of the Company’s last 12 months of press releases can be accessed here.

12 Advisors

Company contact

Company contact tel: +44 207 747 5100


Company Secretary

Kitwell Consultants Limited
Kitwell House, The Warren
Radlett
Hertfordshire, WD7 7DU

NomadCairn Financial Advisors LLP
61 Cheapside
London
EC2V 6AX
tel:+44 (0) 20 7148 7900
BrokerCantor Fitzgerald Europe
One Churchill Place
London
E14 5RD
tel:+44 20 7894 7000
AuditorsGrant Thornton LLP
Grant Thornton House
Melton Street, Euston Square
London NW1 2EP
SolicitorsFladgate Fielder
25 North Row
London W1K 6DJ
RegistrarsCapita Registrars
Northern House
Woodsome Park
Fenay Bridge
Huddersfield HD8 0LA

Publications