15 April 2021
Notice of Annual General Meeting
Kenmare Resources plc (LSE:KMR, ISE:KMR), one of the leading global producers of titanium minerals and zircon, provides notice of its Annual General Meeting ( AGM ).
Notice of AGM
Kenmare’s AGM will be held at the Company’s head office (4
th Floor, Styne House, Hatch Street Upper, Dublin 2, Ireland) at 2.00 p.m. on 13 May 2021.
The Company plans to conduct the AGM in accordance with the Irish Government’s COVID-19 related public health measures and public health advice. Shareholders should expect the AGM to take place under constrained circumstances. The Company will ensure that all legal requirements of the meeting, in accordance with its Articles of Association, are satisfied with the minimum necessary quorum of three shareholders and physical distancing measures will be in place. The Company reserves the right to refuse entry to the meeting where reasonably necessary to comply with the COVID-19 related public health measu
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The loss was driven by non-cash exploration write-offs and impairments, according to annual results from the company.
Revenue at the Irish-founded group fell to $1.4bn in 2020, from $1.7bn in 2019.
During the year Tullow’s working interest production averaged 74,900 barrels of oil per day, in line with expectations.
The company had net debt at year-end of around $2.4bn.
As part of its ongoing refinancing discussions, Tullow said it has now received approval for a new debt capacity amount under the Reserve Based Lending facility of $1.7bn. It now has liquidity headroom and free cash of around $900m.
Tullow said the combination of “strong business delivery, increased liquidity, recent asset sales and higher commodity prices is providing a positive impetus to constructive discussions with creditors.”