| DO PUBLIKACJI 4 marca 2013 r. EXILLON ENERGY PLC ("Exillon" lub "Spółka") ODPOWIED¬ ZARZĄDU NA ŻĄDANIE AKCJONARIUSZA Jak ogłoszono wcześniej Worldview Capital Management ("Worldview"), który zarządza zarejestrowanym na Kajmanach funduszem, będącym faktycznym właścicielem pakietu akcji Exillon Energy plc, złożył wniosek o zwołanie Nadzwyczajnego Walnego Zgromadzenia (NWZ), w trakcie którego miałoby dojść do głosowania nad szeregiem uchwał wprowadzających zmiany w składzie Zarządu Spółki. • Zarząd zaleca akcjonariuszom, aby GŁOSOWALI PRZECIWKO WSZYSTKIM uchwałom proponowanym przez Worldview podczas NWZ 19 marca 2013 r. • Akcjonariusze posiadający znacznie ponad 50 procent wyemitowanego kapitału akcyjnego Exillon wystosowali do Zarządu i jego doradców pisemne oświadczenia, w których ogłaszają zamiar głosowania przeciwko uchwałom proponowanym przez Worldview. Wśród nich są również wiodące instytucje finansowe, w tym Schroders, JP Morgan Asset Management oraz Fidelity Worldwide Investment. • Komunikat prasowy Worldview z 14 stycznia 2013 r. przedstawiał Exillon w negatywnym świetle, w wyniku czego cena akcji Spółki spadła o około 10 procent. Zdarzenie to spowodowało spadek wartości rynkowej Spółki o prawie 38 milionów dolarów. • Worldview wykorzystał spadek ceny, aby zwiększyć swój udział w akcjonariacie Exillon. • Działania podjęte w trakcie kilku miesięcy przez Worldview wobec Spółki zostały zgłoszone do Financial Services Authority (FSA) oraz do UK Takeover Panel. • Zarząd Exillon uważa, iż akcje spółki są niedowartościowane. Zarząd uważa, iż za wzrost cen akcji w pierwszej kolejności odpowiedzialne jest zwiększenie wydobycia ropy. • Średni dzienny poziom produkcji ropy przez Exillon wzrósł o 47 procent w 2012 r., natomiast wzrost dziennego poziomu produkcji od czasu pierwotnej oferty publicznej w 2009 r. wynosi ponad 700 procent. • Od czasu pierwotnej oferty publicznej, Spółka więcej niż podwoiła bazę rezerw potwierdzonych i prawdopodobnych, z poziomu około 132 milionów baryłek do poziomu 265 milionów baryłek. Kandydaci na stanowiska dyrektorskie zgłoszeni przez Worldview Andrei Kruglikin • Pan Kruglikin jest dobrze znany Dyrektorowi Niewykonawczemu oraz Dyrektorowi Generalnemu Exillon. Był podwładnym Dyrektora Niewykonawczego, kiedy ten pracował w ING Bank. • Podczas 2012 r. Pan Kruglikin zgłosił swoją kandydaturę na stanowisko w Zarządzie spółki Exillon, jednak Zarząd uznał, iż jest on nieodpowiednim kandydatem. Jego kandydatura została odrzucona, a stanowisko Zarządu w tej sprawie pozostaje niezmienione. • W trakcie kilku spotkań ze Spółką w ubiegłym roku, Pan Kruglikin, Chief Compliance Officer w Worldview, złożył wysoce niestosowną propozycję, dotyczącą transakcji zakupu akcji Spółki Exillon możliwych w przyszłości. Propozycja ta została bezdyskusyjnie odrzucona przez Zarząd Exillonu. • Postępowanie to zostało wzięte pod uwagę przez Zarząd i było także jedną z wielu przyczyn, z powodu których Zarząd zdecydował się rekomendować brak poparcia uchwały, dotyczącej mianowania Pana Kruglikina na stanowisko dyrektorskie. James Dewar i Yves Mérer Po odbyciu rozmów z Zarządem, Panowie Dewar oraz Mérer zrezygnowali z woli kandydowania na stanowiska dyrektorskie w Spółce Exillon. W związku z powyższym uchwały dotyczące kandydatur Panów Dewara i Mérera nie będą przedstawione akcjonariuszom podczas NWZ. Dyrektor Generalny Mark Martin, powiedział: "Worldview przedstawił poważne zarzuty wobec Spółki Exillon. Opublikowany dzisiaj okólnik dla akcjonariuszy w szczegółowy sposób przedstawia wprowadzający w błąd charakter wszystkich tych zarzutów." "Działania Worldview podważyły zaufanie rynku do Exillonu. Cena naszych akcji spadła o około 10 procent po nagłośnieniu ich nieprawdziwych i wprowadzających w błąd zarzutów. Następnie on sam zwiększył swój udział w naszym akcjonariacie. Zgłosiliśmy ten podejrzany ciąg zdarzeń do FSA." "W trakcie kilku spotkań Andrei Kruglikin, Chief Compliance Officer w Worldview, złożył Spółce propozycję dotyczącą możliwych transakcji zakupu akcji. W naszym mniemaniu propozycja ta była wysoce niestosowna i bezpośrednio sprzeczna z interesami akcjonariuszy mniejszościowych. Została ona przez nas całkowicie i bezdyskusyjnie odrzucona, a o całym zdarzeniu poinformowano Panel for Takeovers and Mergers." Dyrektor Niewykonawczy Spółki David Herbert, powiedział: "Akcje Exillon notowane są na rynku głównym (Premium Listing) Giełdy Papierów Wartościowych w Londynie od 2009 r. Jak przystało na Spółkę o takiej pozycji oraz zważywszy na fakt, iż nasze aktywa ulokowane są w Rosji, naszym obowiązkiem jest stosowanie najwyższych standardów ładu korporacyjnego. Tak też postępujemy." "Więkoszość akcjonariuszy złożyła pisemnie oświadczenia, iż w trakcie NWZ zamierza głosować przeciwko wszystkim uchwałom przedstawionym przez Worldview." Niezależny Dyrektor Wyższego Stopnia Spółki Stuard Detmer, powiedział: "Cały czas pozostajemy otwarci na działania wzmacniające pozycję Zarządu, bąd¼ na jakiekolwiek inne inicjatywy zwiększające wartość dla akcjonariuszy. Jednakże uważamy, iż Andrei Kruglikin, który jako jedyny z kandydatów Worldview nie wycofał swojej kandydatury, nie jest odpowiednim kandydatem do Zarządu." Szefowa Komitetu Audytorskiego w Spółce Anne Belveze, powiedziała: "Procedura audytu w spółce Exillon przeprowadzana jest przy zachowaniu najwyższych międzynarodowych standardów. Przewidujemy publikację wstępnych wyników za 2012 r., przygotowanych przez Ernst & Young, w piątek, 8 marca 2013 r." Pełny tekst okólnika, przedstawiającego argumenty Zarządu przemawiające za odrzuceniem propozycji Wordlview, został przekazany do National Storage Mechanism i dostępny jest do wglądu pod adresem: http://www.morningstar.co.uk/uk/NSM. W dokumencie tym Spółka odnosi się do twierdzeń ogłoszonych przez Worldview. Jak ogłaszano wcześniej Nadzwyczajne Walne Zgromadzenie Akcjonariuszy odbędzie się we wtorek, 19 marca 2013 r., o godzinie 12:30 w siedzibie spółki w Fort Anne, Douglas, IM1 5PD na Wyspie Man. Kontakt dla dziennikarzy: Cook Communications +48 (022) 412 06 70 Łukasz Chudy [email protected] 1. Introduction On 13 February 2013 Exillon announced that an Extraordinary General Meeting had been convened for 19 March 2013. This meeting has been convened, at the requisition of nominees acting under the instructions of certain funds managed by Worldview, to vote on the Requisition Resolutions as detailed in the notice to Shareholders posted on 13 February 2013. In support of the Requisition, Worldview issued a press announcement on 14 January 2013, which portrayed the Company in a negative light. Furthermore, Worldview has made additional misleading statements in a presentation given to certain Exillon shareholders. The Board believes that it is important to address Worldview's portrayal of the Company, which it views as misleading or simply inaccurate. The Board recommends that shareholders VOTE AGAINST the Requisition Resolutions, as they intend to do with their own shares. Further, Shareholders controlling over 50% of Exillon's issued share capital have advised the Board that they intend to vote against the Requisition Resolutions. If all the Resolutions proposed by Worldview are passed by Shareholders, the Board believes that the effect would be to transfer a significant level of control over the Company's Board to Worldview who beneficially holds only 11.8% of the Company's Shares and has additionally procured voting rights over 2.2%. This means that Worldview would have gained an inappropriate level of influence of the Company without paying a control premium. 2. Primacy and equality of Shareholder interests The Board is keenly aware that, in advising Shareholders as to the action they should take, its duty is to place the interests of Shareholders first and to treat all Shareholders equally. The Board's objective therefore is to ensure that, during the Requisition process, all Shareholders are treated equally. 3. The Requisition Worldview has called for an Extraordinary General Meeting, with the express intention of arranging a "Board Overhaul and Strategic Review". If passed the Requisition Resolutions will: i. remove the current Chairman; and ii. appoint three new directors, all proposed by Worldview (one of whom is a Worldview employee). 4. Shareholder engagement Worldview stated in its press announcement that its "call for an EGM comes as a last resort following a period of attempted engagement with the Board since May 2012". Prior to receipt of the Requisition, the Board had engaged extensively with Worldview: · the CEO had six meetings with Worldview during 2012 (four in London and two in Moscow); · the Chairman met with Worldview five times in London and the Senior Independent Director met with them three times; · the Board has exchanged 186 emails with Worldview's principals since 26th September 2011; and · the Board discussed these Worldview meetings and correspondence at numerous Board meetings. Worldview's more recent actions with the Requisition have diverted management resources from running the business and resulted in the Company having to incur additional costs and expenses to deal with Worldview's actions. Worldview made a number of claims in its presentation and press announcement which the Board believes to be misleading. In the Circular the Company addresses the assertions made by Worldview. The Board's intention is to highlight to Shareholders the inaccuracies which make Worldview's assertions misleading. 5. Exillon's share price performance The Board agrees that Exillon is undervalued by the market. The Exillon share price is the Board's most urgent priority. It is the Board's view that the best way to increase the Company's share price is to continue to increase oil production. Average daily production increased 47% in 2012 and by more than 700% since the IPO in 2009. The Company's goal is to double production again within three years. In addition the Company has more than doubled its proven & probable ("2P") reserve base from approximately 132 million to 265 million barrels since the IPO. The London listed Russian E&P peer group has suffered volatile share price movements and a decrease in market valuation over the 12 months to 28 February 2013. However Exillon's share price has been the most resilient among its peers over this period. The Board also notes that the Company's share price fell approximately 10% from 146p to 132p on 14 January 2013, reducing the market valuation of the Company by approximately $38 million, the first trading day after Worldview publicised its proposed Requisition to the UK press and conducted its negative press briefings. The Board believes this price fall was a direct result of the actions taken by Worldview. 6. The Exillon Board Worldview has alleged that Exillon's Board is "underperforming and inappropriate". The Board has all of the necessary skills required with a range of extensive and relevant experience, including significant financial and accounting backgrounds, many years of industry and geographical experience, experience in dealing with publically listed companies and corporate governance procedures. Worldview comments that neither the Chairman nor CEO were appointed as part of a "proper search process" and that neither have "relevant E&P experience". Worldview ignores the fact that: · the Chairman has significant experience of the oil and gas sector having been a senior employee of BP and advising numerous oil and gas companies for approximately 20 years whilst a banker covering global emerging markets, including in Russia and the CIS; · the CEO has significant experience advising numerous oil and gas companies throughout the CIS region, including Exillon, Gazprom, Integra, MOL, Rosneft and Zhaikmunai; and · both the Chairman and CEO's skills and capabilities were well known to the Company, which had more than enough evidence of their expertise to judge whether they would have been suitable candidates to contribute towards the future success of the Company. A brief profile of the other Directors and their relevant experiences is set out below, further demonstrating the strength of their competence in running the Company: · L. Stuard Detmer (Senior Independent Non-executive Director) was formerly CEO of Sibir Energy Plc ("Sibir Energy"), an integrated oil & gas company producing 80,000 bpd of oil in Western Siberia (Exillon's main operational centre). Mr Detmer oversaw the sale of a stake in Sibir Energy to Gazprom in 2009. Mr Detmer has also worked with Mobil Oil Corporation in Russia, Latin America and the United States and has over 16 years of experience in emerging markets. Mr Detmer holds an MBA from the Darden School of Business Administration and is fluent in Russian; · Ezio Bracco (Independent Non-executive Director and Chair of the Health, Safety & Environmental Committee) is a chemical engineer, who founded (in 1984), owns and runs an international engineering and project management company, Expertise srl, employing over 500 people working on major offshore and onshore oil and gas projects in Kazakhstan, the Middle East, Africa and Russia; and · Anne Belvèze (Independent Non-executive Director and Chair of the Audit Committee) was a Professor of Mathematics of Finance & Financial Statements Analysis. She is currently the Managing Partner of Mazars in Russia, an international accounting firm. Ms Belvèze is fluent in Russian. 7. Strategy and portfolio management The Board does not believe that the Company's assets have been subject to "ineffective management". Average daily production increased 47% in 2012 and by more than 700% since the IPO in 2009. The Company's goal is to double production again within three years. In addition the Company has more than doubled its 2P reserve base from approximately 132 million to 265 million barrels since the IPO. Exillon owns 100% of both of its operating subsidiaries, Exillon Timan Pechora and Exillon Western Siberia. Exillon is therefore able to freely prioritise investment across its assets. · ETP had 2P reserves of 105 million barrels as at 1 November 2011 and average daily production of 3,694 bpd as at December 2012 (approximately twice as much as the whole Company at the time of IPO in 2009); and · EWS had 2P reserves of 160 million barrels as at 1 November 2011 and average daily production of 12,420 bpd as at December 2012. Both operations are profitable and the Board believes that developing the potential of both will maximise the value of Exillon as a whole. This is the basis upon which the Company raised money in its IPO and subsequent share placings in 2010 and 2011. The Board constantly refines its investment programme to maximise returns for shareholders. 8. Oil production reporting Worldview has alleged that the Board has published "misleading production figures". Production statistics were published promptly on a monthly basis during 2012, setting out objective data without embellishment. The Company reports average daily production split by asset as well as average and peak over-all production for Exillon as a whole. These reports have been provided in a clear and comprehensible manner and have followed this format for 15 months. The latest Exillon production report is set out in Appendix II, as an example. In addition the Company is aware that in a presentation given to certain Exillon shareholders, Worldview has claimed that peak "rather than" average figures have been used in production reports to demonstrate the achievement of production targets. This is false and misleading, as can be seen in the latest Exillon production report set out in Appendix II. 9. Governance The Board's structure meets or exceeds best practice guidelines for corporate governance and Worldview's attempts, via press briefings, to portray Exillon as an example of 'Firms that list in London but operate in markets with different governance standards' is false and misleading. Worldview has stated that the Company's Board has a "lack of independence", despite the fact that out of the Board of five, four Directors are independent. Dr David Herbert's background at ING was taken into account when he was appointed and the other three Independent Directors unanimously agree that he is independent. The CEO, Mark Martin, being the only executive member of the Board, is not independent. Worldview has criticised the Company for its lack of a CFO, yet the Chairman and CEO both have over 20 years of financial experience and the Chair of the Company's Audit Committee is the Managing Partner of Mazars in Russia, an international accounting firm. The Board does not see any need to incur the additional expense of a Board level CFO appointment. The Board also notes that Worldview, in its Press Release, does not propose such an appointment. The Board notes that Worldview's Press Release states that Exillon has "breach[ed] Listing Rules" through not disclosing key investor information in its prospectus. The Company's prospectuses were verified by leading international law firms which issued disclosure letters as to their accuracy and completeness. Further, the Company works with legal counsel with respect to its ongoing compliance with the Listing Rules and it is not aware of any breaches of Listing Rules or releases of misleading information. Further, Dr Herbert's chairmanship of Timan Oil & Gas (2006-08) is a matter of public record. Worldview questions the role of Maksat Arip, the founder and former Executive Chairman of the Company. Mr Arip owns 30% of Exillon's Shares. He is closely involved with the Company as a consultant and his advice is regularly sought, particularly on matters involving his local market expertise. He is paid a fee for his consultancy services ($300,000 per annum). However his primary motivation and more significant financial interest in the Company is as a major shareholder. Mr Arip's decision to step down as Executive Chairman in 2011 was in line with corporate governance guidelines and not in any way an attempt to circumvent them. Mr Arip was consulted by the Exillon Remuneration Committee on the remuneration of Dr Herbert and Mr Martin in his capacity as the Company's former Executive Chairman. Worldview also alleges that "there may have been inadequate and misleading disclosure in Exillon's most recent prospectus regarding the Kagazy debt restructuring". Kagazy is a paper mill in Almaty, Kazakhstan. In the Company's prospectuses in 2009 and 2011, both approved by the UK Listing Authority, Mr Arip fully and properly disclosed his prior directorship of Kagazy and its discussions with lenders. There has been no relationship between Mr Arip and Kagazy since July 2009. There is no relationship whatsoever between Exillon and Kagazy and never has been. Worldview has accused the CEO of being remunerated inappropriately for his services. Mark Martin's experience of leading the Company's IPO gave him direct relevant knowledge and skills and made him an attractive candidate to lead the Company, oversee its development and lead its relations with shareholders and the market. The Board incentivised Mark Martin to move to live full-time in Russia, and forgo an established career as well as a substantial portfolio of share options and deferred equity at ING. The Board notes that the base salary of Mr Martin is in line with the average base salary of the CEOs of its London listed Russian E&P peers and is approximately 40% below the base salary of its closest peer, based on operations. All remuneration decisions are made by the Remuneration Committee consisting solely of Independent Directors. The Board believes that the share component of the CEO's remuneration fully aligns his interests with those of other Shareholders. It was awarded under the same scheme and under the same terms as the awards made to the six other senior management members who are beneficiaries of the scheme. 10. FSA Rule breach in 2010 Worldview has stated that one of the reasons for proposing the Requisition Resolutions is the breach of the FSA rules that occurred in 2010 (investigated and reported in 2011). The breaches occurred before Dr Herbert and Mr Martin joined Exillon; indeed one of the reasons for their recruitment was to enhance the Company's corporate governance and to improve Company procedures. The proposal to remove the Chairman for problems that he inherited and then fixed is perverse. 11. Proposed non-executive candidates The Board believes that its current size allows effective and efficient decision making but is open-minded about adding new independent directors with valuable and relevant experience. The Company invited Messrs Mérer and Dewar to meet with the Board, to assess whether their skills and experience would complement those of the current Board and in an effort to understand their motivation for agreeing to be proposed as directors. The Board wished to ascertain whether they could perform the function of independent non-executive directors on behalf of all Shareholders and would not act solely as the representatives of Worldview. The Board interviewed Mr Mérer and Mr Dewar. Both are capable individuals with a wide range of skills and experience. However these skills are already strongly represented on Exillon's existing Board. The Board is satisfied that Mr Mérer and Mr Dewar: · were not aware of the regulatory matters, subsequently reported to the FSA and the Takeover Panel, when they agreed to be proposed as directors by Worldview; · are independent, and are not associates, of Worldview; and · were acting in good faith when initially proposed. After further discussion with the Board, both have withdrawn their consent to act as directors of Exillon. Accordingly, resolutions 2 and 3 will not be put to Shareholders at the EGM. Mr Kruglykhin is well known to both the Chairman and CEO, having previously worked for Dr Herbert at ING. During 2012 Mr Kruglykhin put himself forward as a candidate for the Exillon Board but the Board concluded that he was not a suitable candidate and his candidacy was rejected. The opinion of the Board is unchanged. 12. Worldview reported to UK Regulators Immediately following the negative press briefings by Worldview, the Company's share price fell approximately 10% and Worldview increased its shareholding. Further, during several of the meetings held last year, Mr Kruglykhin, the Worldview Chief Compliance Officer, made a proposal concerning future purchases of the Company's Shares that the Board felt was highly inappropriate. This proposal was summarily rejected by the Board. The Board has provided full written details of the above matters to both the UK Financial Services Authority (the regulator of Worldview and of financial markets in the UK, including the London stock market) and the UK's Takeover Panel. This conduct was taken into account by the Board, and was one of the many reasons that the Directors again determined not to recommend the resolution to appoint Mr Kruglykhin to the Company's Board. 13. Discussions with major Shareholders The Board has consulted with the Company's largest Shareholders. A clear majority of Exillon's Shareholders have advised the Board in writing that they will VOTE AGAINST ALL of Worldview's proposals. Three of the Company's largest institutional shareholders (Schroders, JP Morgan Asset Management and Fidelity Worldwide Investment) have given written confirmation of their intent to VOTE AGAINST ALL of Worldview's proposals at the EGM. 14. Recommendation In light of the above, Shareholders are urged to vote using the proxy form enclosed. The Board considers that the Requisition Resolutions are not in the best interests of the Company and of its shareholders as a whole. Accordingly the Board, who has considered the advice of Edmond de Rothschild, recommends that Shareholders VOTE AGAINST ALL of the Requisition Resolutions. Dr Herbert has not taken part in discussions surrounding the first requisitioned resolution relating to his proposed removal as a director. The Board intends to vote against the Requisition Resolutions in respect of their aggregate shareholding of 64,796 Shares, representing 0.04% of the Company's share capital. In providing its advice, Edmond de Rothschild has taken into account the Director's commercial assessments. The Board urges ALL Shareholders to vote to reject Worldview's proposals. APPENDIX I Summary profile of Andrey Kruglykhin Below is a career profile of Andrey Kruglykhin, as extracted from Worldview's press announcement of 14 January 2013. Exillon cannot comment as to the accuracy or otherwise of this profile. Andrey Kruglykhin - Founding Partner and Chief Compliance Officer of Worldview Capital Management with significant oil and gas and turnaround experience in companies with management and governance failings, minority shareholders' rights, and corporate governance · More than 15 years' experience in the oil & gas industry and financial sector - currently Partner and Chief Compliance Officer at Worldview Capital Management; · Other current roles include as Executive Chairman at Bulgarian Stock Exchange-listed ELARG Agricultural Land Opportunity Fund REIT; · Has worked in advisory roles in the asset management industry since 2006, managing complex turnaround situations in Eastern Europe and Central Asia; · Previous roles include as Senior Advisor with QVT, Senior Advisor at ING Bank, London, CEO of Petrol Holding in the Bulgarian part of Naftex Group,a downstream oil company with an annual turnover of more than EUR500m and Deputy Director of Business Development at RITEK, a Russian upstream oil company; · Holds a PhD in Petroleum Economics from Gubkin Russian State University of Oil and Gas, Moscow; MSc in Physics from the Moscow Institute of Physics and Technology (University); Certificate in Crisis Management; CDip AFAskeri-ACCA; attended the Trium Global Executive MBA program issued by LSE, NYU, and HEC. APPENDIX II Exillon December Production Report RNS Number : 8969U Exillon Energy Plc 07 January 2013 Exillon Energy plc December Production Report 7 January 2013 7 January 2013 - Exillon Energy plc (EXI.LN), a London Premium listed independent oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), is pleased to announce unaudited production data for the month of December 2012 ("the Period"). · Our average daily production1 was 16,114 bbl/day during the period. · Average daily production for Exillon TP was 3,694 bbl/day, and for Exillon WS it was 12,420 bbl/day during the period. · Our peak daily production2 was 17,532 bbl/day during the period. We recently consulted with our major shareholders about the merits of publishing monthly production data. A large majority felt that monthly publication is excessive, and that quarterly publication would result in less volatility in our share price. We have therefore decided that in 2013 we will publish production data once a quarter. Media details: Tom Blackwell +44 207 920 2330 _____________________________ Source: Average production data is based on monthly production reports submitted to tax authorities for MET payment purposes. Peak production is based on internal operations reports. 1 The Company records production in metric tonnes. Barrelization ratios are used for illustrative purposes only and are calculated based on the Company's estimate of the typical API of oil produced from specific fields. The barrelization ratios used are 7.67 bbl / tonne for Exillon WS and 7.44 bbl / tonne for Exillon TP. Total production was 50,194 tonnes for Exillon WS, 15,392 tonnes for Exillon TP and 65,587 tonnes for the Group during the 31 day period. 2 "Peak daily production" represents the Company's estimate of aggregate production on the day on which aggregate production reached its maximum during the period. It does not represent the combined peak production of each separate field on different days, which may be higher. DEFINITIONS The following definitions apply throughout this announcement unless the context requires otherwise: Term Definition "Board" or "Directors" board of directors of the Company "bpd" barrels per day "Circular" the Circular sent to Exillon Shareholders on 4 March 2013 in relation to the Extraordinary General Meeting convened for 19 March 2013 "CIS" Commonwealth of Independent States "Company" or "Exillon" Exillon Energy Plc "Edmond de Rothschild" LCF Edmond de Rothschild Securities Limited "Exillon Timan Pechora" or "ETP" Nem Oil CJSC, a limited liability company incorporated in the Russian Federation (with registered number 1021101042841) "Exillon Western Siberia" or "EWS" Kayum Neft CJSC, a limited liability company incorporated in the Russian Federation (with registered number 1038600206644) "Extraordinary General Meeting" or "EGM" extraordinary general meeting of the Company to be held at 12:30 p.m. on 19 March 2013 to be held at the Company's registered office at Fort Anne, Douglas, Isle of Man, IM1 5PD "E&P" exploration and production "ING Bank" or "ING" ING Bank N.V. "IPO" initial public offering "Kagazy" Kazakhstan Kagazy Plc "Listing Rules" the listing rules made by the Financial Services Authority under Part VI of the Financial Services and Markets Act 2000, as amended "London listed Russian E&P peers" Exillon Energy Plc, RusPetro Plc, Petroneft Resources Plc and JKX Oil & Gas Plc "Press release" the press release issued by Worldview on 14 January 2013 "Requisition" the requisition by nominees acting under the instructions of certain funds managed by Worldview, to vote on the Requisition Resolutions "Requisition Resolutions" resolutions to be put to shareholders at the EGM, details of which are set out in this Circular "Shareholders" holders of the Shares "Shares" the ordinary share capital of Exillon "Worldview" Worldview Capital Management SA | |
