DUBAI, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Brooge Energy Limited (“BEL” or the “Company”), a Cayman Islands-based infrastructure provider, which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services, hereby announces the results of the Company’s extraordinary general meeting of the shareholders (the “Meeting”) held on 30 September 2025. The record date for determining shareholder eligibility to vote at the Meeting was market close on Wednesday 10 September 2025 (the " ...

Core Viewpoint - Brooge Energy Limited is holding an extraordinary general meeting for shareholders to approve a significant transaction involving the sale of its subsidiaries, which will lead to substantial distributions to shareholders [1][5][12]. Group 1: Meeting Details - The extraordinary general meeting is scheduled for around September 30, 2025, with a record date of September 10, 2025, to determine shareholder eligibility to vote [1][2]. Group 2: Transaction Overview - On May 27, 2025, Brooge Energy announced a conditional sale and purchase agreement with Gulf Navigation Holding PJSC for the sale of 100% of the share capital of BPGIC FZE and BPGIC Phase III FZE [3]. - The transaction is expected to generate significant proceeds, allowing the company to settle debts and distribute funds to shareholders [4]. Group 3: Distribution to Shareholders - Following the completion of the transaction, the company anticipates distributing nearly all proceeds to shareholders of record, with an expected distribution of approximately USD 7.70 per share [6][10]. - U.S. shareholders will receive cash payments, while non-U.S. shareholders will receive GulfNav shares and/or Mandatory Convertible Bonds [7][8][14]. Group 4: Shareholder Considerations - BPGIC Holdings Limited, the majority shareholder, has agreed to assume specific liabilities to facilitate the transaction, which will affect its dividend [11]. - The board has determined that the distribution structure complies with legal constraints, ensuring a fair allocation of value among shareholders [13][14][15]. Group 5: Meeting Results - The results of the voting at the extraordinary general meeting will be posted on the company's website shortly after the meeting [16].

DUBAI, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Brooge Energy Limited (“BEL”), a Cayman Islands-based infrastructure provider, which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services, is updating its notice of August 14, 2025. As noted in the May 27th and August 14th press releases, the Consideration is expected to be distributed at an appropriate time following completion of the Transaction to shareholders of record. It seems that some shareholders have taken no act ...

Company Overview - Brooge Energy Limited (BEL) is a Cayman Islands-based infrastructure provider engaged in Clean Petroleum Products, Biofuels, and Crude Oil storage and related services [5] - The company operates through its subsidiary BPGIC FZE, strategically located at the Port of Fujairah in the UAE, outside the Strait of Hormuz [5] - BEL differentiates itself by offering fast order processing, excellent customer service, and high accuracy blending services with low product losses [5] Transaction Details - The transaction with GulfNav is proceeding as planned, with expectations for closing in the fourth quarter of 2025 [1] - The consideration from the GulfNav transaction will be distributed to shareholders of record as of August 29, 2025, with specific distributions based on residency [2][3] - Shareholders outside the U.S. must register their shares with Continental Stock Transfer & Trust before the Record Date to receive their distribution in the form of GulfNav securities or U.S. dollars [3] Distribution Expectations - The exact amounts of the distribution from the GulfNav transaction have not been finalized, but it is anticipated that most of the consideration will be distributed after reserving for anticipated liabilities [4] - Future distributions from BEL are unlikely to occur after this transaction [4]

Core Viewpoint - Brooge Energy Limited intends to voluntarily delist its ordinary shares from the Nasdaq Capital Market and subsequently deregister with the SEC, citing the lack of an active trading market and the associated costs and regulatory burdens as key reasons for this decision [1][3]. Group 1: Delisting and Deregistration Process - The company plans to file a Form 25 with the SEC and Nasdaq around June 9, 2025, with the last day of quotation expected to be around June 19, 2025 [1]. - Following the delisting, Brooge Energy Limited will file a Form 15 with the SEC on or about June 19, 2025, to suspend its reporting obligations under the Exchange Act [2]. - The formal deregistration of the company's securities is expected to become effective 90 days after the filing of Form 15 [2]. Group 2: Reasons for Delisting - The decision for delisting and deregistration was made by the company's Board of Directors, based on a review of factors including the lack of an active trading market and the significant operating expenses related to compliance with SEC and Nasdaq requirements [3]. Group 3: Company Overview - Brooge Energy Limited is a Cayman Islands-based infrastructure provider engaged in Clean Petroleum Products, Biofuels, and Crude Oil storage services [4]. - The company operates through its subsidiary BPGIC FZE, located strategically outside the Strait of Hormuz at the Port of Fujairah in the UAE, differentiating itself with fast order processing, excellent customer service, and high accuracy blending services [4].

Core Viewpoint - Brooge Energy Limited (BEL) has entered into a conditional sale and purchase agreement to sell 100% of its subsidiaries, Brooge Petroleum and Gas Investments Company FZE and Brooge Petroleum and Gas Investment Company Phase III FZE, to Gulf Navigation Holding PJSC for approximately USD 884 million [1][3][5] Group 1: Acquisition Details - The acquisition is part of GulfNav's strategy to enhance its position in the energy sector by expanding storage and logistics capabilities through BPGIC Group's advanced infrastructure [2] - The total consideration for the transaction is approximately USD 884 million (AED 3,245 million), which includes cash, shares, and mandatory convertible bonds [3][5] - The cash component includes approximately USD 125.3 million, with USD 65 million going into a Completion Escrow Account and USD 60 million for settling certain liabilities [5][6] Group 2: Conditions and Completion - Completion of the transaction is subject to several conditions, including shareholder approval from GulfNav and necessary regulatory approvals [5][6] - The transaction is expected to close within five business days after all conditions are satisfied or waived [7][8] - Both parties will provide customary warranties typical in similar transactions [7] Group 3: Company Backgrounds - Brooge Energy Limited is based in the Cayman Islands and specializes in clean petroleum products, biofuels, and crude oil storage, operating through its subsidiary BPGIC FZE located in Fujairah, UAE [10] - Gulf Navigation Holding PJSC is a prominent maritime and shipping company based in Dubai, UAE, with a diverse fleet and comprehensive services in the maritime industry [11]