PetroMaroc Corporation: Results of Annual and Special Meeting Announced

TORONTO, ONTARIO–(Marketwired – Dec. 19, 2016) – PetroMaroc Corporation plc (TSX VENTURE:PMA) (the “Company” or “PetroMaroc“) is pleased to announce that at the Company’s annual and special meeting of shareholders held on December 19, 2016, the shareholders elected Messrs. Dennis A. Sharp, D. Campbell Deacon and Nicholas O. Brigstocke to serve as directors of the Company until the next annual general meeting of shareholders, or until their successors have been duly elected or appointed.

The Company’s shareholders also approved: (i) the appointment of Deloitte LLP as auditors of the Company with remuneration to be fixed by the board, (ii) the previously adopted stock option plan of the Company and the granting of stock options thereunder; and (iii) restructuring of the Cdn$11.09 million principal amount of secured debentures. Details of the resolutions considered and approved at the meeting are disclosed in the management information circular of the Company dated November 18, 2016, filed at www.sedar.com.

Shareholders voted overwhelming in favour of the matters at the meeting with approximately 96% of votes cast for the motions.

About PetroMaroc

PetroMaroc is an independent oil and gas company focused on its significant land position in Morocco. The Company has a 50 percent operated interest in the Sidi Moktar licence area covering 2,683 square kilometres and is working closely with Morocco’s National Office of Hydrocarbons and Mines (ONHYM) as a committed long-term partner to unlock the hydrocarbon potential of the region. Morocco offers a politically stable environment to work within and has favourable fiscal terms to energy producers. PetroMaroc is a public company listed on the TSX Venture Exchange under the symbol “PMA”.

Additional information about the Company can be found at www.petromaroc.co and under the Company’s SEDAR profile at www.sedar.com.


Contact Information:
PetroMaroc Corporation plc
Martin Arch
Chief Financial Officer
+44 (0) 20 3137 7756