Rose Petroleum plc

Notice of General Meeting


Notice of General Meeting

VANE announces that the Company has today sent a circular to shareholders and a notice convening a General Meeting.

The General Meeting has been convened in accordance with Section 142 of the Companies Act 1985, which requires a public company to convene a General Meeting of its shareholders where its net assets are half or less of its called up share capital. The Company's unaudited interim results for the 6 month period ended 30 June 2008 showed that the Company's net assets were less than half of the called up share capital as at that date and this has been confirmed by the Company's latest management accounts.

The Directors are of the opinion that the Company is presently able to continue to trade normally without any material changes being required to its assets or capital and that therefore no specific steps are currently required to address the situation, although they will continue to regularly monitor the net asset position of the Company. In light of that belief, it is anticipated that the Chairman of the General Meeting will simply propose a sole resolution to the General Meeting to adjourn it until the date of the Company's next AGM, in order that the situation can be discussed between Shareholders to the extent that it remains relevant at that date.

The General Meeting is to be held at the offices of Thomas Weisel and Partners, 5th Floor, 10 Dominion Street, London EC2M 2EE on 26th February 2009 at 12 noon.

The circular containing further details of the matters to be discussed at the General Meeting can be found on the Company's website at

Matthew Idiens, VANE's Commercial Director commented "The General Meeting is called in line with section 142 of the Companies act but does not in any way effect trading in VANE or any area of operations".