InterOil confirms receiving requisition

 INTEROIL Corporation has confirmed receiving a requisition submitted by a shareholder group requesting a special meeting to consider some proposed resolutions.

A statement said the board of directors was reviewing the requisition from Phil Mulacek (Mulacek Group).

“InterOil welcomes communications with its shareholders and values input toward the goal of enhancing shareholder value,” the statement said.

It said the members of the board of directors and management team have had extensive interactions with shareholders, including Mulacek, over the past year.

“The board of directors will review the Mulacek Group’s requisition and accompanying proposals within the required timeframe and will take actions, that it believes are in the best interest of InterOil and all of its shareholders,” it said. 

“InterOil appreciates the role Mr  Mulacek played as founder of InterOil and his contributions during his tenure.

“The board will seek to engage with Mr Mulacek constructively, consistent with the board’s obligations to all shareholders.

“InterOil continues to make significant progress on the Papua LNG (liquefied natural gas) project while taking steps to streamline its operations and increase operating efficiency.

“We remain confident in our strategic plan and believe its implementation over time will achieve enhanced value for all shareholders,” it said.