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Kolibri Global Energy Faces Shareholder-Requested Special Meeting on Share Cap
Yahoo Financeยท 2025-09-15 10:00
Core Viewpoint - Kolibri Global Energy Inc. is facing a shareholder requisition to set a maximum authorized share count at 37,367,894, reflecting investor concerns over potential dilution from new share issuances [1][2]. Group 1: Shareholder Requisition - The requisition was filed under section 167 of the British Columbia Business Corporations Act by CDS & Co. on behalf of TFG Asset Management UK LLP, the beneficial owner of the stock [2]. - Kolibri currently has 35.38 million shares outstanding on an undiluted basis and 36.86 million on a fully diluted basis [2]. Group 2: Special General Meeting - In response to the requisition, the company has scheduled a special general meeting of shareholders for November 25, 2025, with details on the record date and meeting logistics filed on SEDAR+ [3]. Group 3: Governance and Capital Discipline - Kolibri, as a North American oil and gas exploration and production company, is navigating this shareholder push as part of broader governance oversight, which is common in the energy sector [4]. - The outcome of the meeting could influence Kolibri's flexibility in raising capital through equity issuance, a common financing tool for junior and mid-cap energy companies [5]. - This move reflects growing investor attention to capital discipline and shareholder protection in the upstream oil and gas sector [5].