This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Concerned Shareholders Of Longreach Oil And Gas Limited Deposit Director Removal Notice

TORONTO, Dec. 16, 2013 /CNW/ - Cam Deacon and Dennis Sharp (the " Concerned Shareholders"), in their capacities as shareholders of Longreach Oil and Gas Limited (TSX-V: LOI) (" Longreach" or the " Company") are pleased to report that,  further to their announcement of December 6, 2013, they have deposited today, at the registered office of Longreach, notice in writing signed by the holders of more than half the issued shares of the Company, thereby removing as directors of the Company each of Messrs. Andrew Benitz, Bryan Benitz and Ronald Lansdell.

It is expected that Dennis Sharp, who is the Executive Chairman of the board of Longreach, will convene a meeting of the remaining directors of the Company today in order to, among other things, appoint the nominees of the Concerned Shareholders as directors of the Company, as described in the press release of the Concerned Shareholders disseminated on December 6, 2013 and filed on the Company's SEDAR profile at www.sedar.com.

Dennis Sharp, on behalf of the Concerned Shareholders, commented: "We are grateful for the significant support of the Company's shareholders in this difficult time and we look forward to putting this unfortunate situation behind us and quickly moving forward towards maximizing the Company's potential in Morocco for all shareholders.  We expect that, other than the changes to the board and the departure of Andrew Benitz as CEO, there will be no further significant effects or changes to the ongoing operations of the Company.  We are fortunate to have a knowledgeable team and staff and are grateful for their ongoing efforts in service to the Company and its shareholders."

Additional Information

The information contained in this press release is provided in accordance with Canadian securities laws applicable to public broadcast solicitations.  To the extent required by applicable law, the Concerned Shareholders are relying on the exemption under section 9.2(4) of National Instrument 51-102 - Continuous Disclosure Obligations of the Canadian Securities Administrators to make this public broadcast.  In connection therewith, certain information regarding, among other things, the proposed Concerned Shareholder nominees for appointment or election to the board of Longreach, as well as other information, has previously been provided in the press release of the Concerned Shareholders dated December 6, 2013 under the sections entitled "Information Concerning the New Nominees" and "Additional Information Relating to Public Broadcasts", which sections are incorporated by reference herein (the "Additional Information").  The press release containing the Additional Information, as well as this press release, have been filed by the Concerned Shareholders and are available for review on the Company's SEDAR profile at www.sedar.com.

The statements made in this press release are not made by or on behalf of Longreach or its management and, except as otherwise stated herein, are made by the Concerned Shareholders.  The registered address of Longreach is located at Queensway House, St Helier, Jersey (Channel Islands) JE1 1ES.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs