- PetroNeft Resources' board has welcomed a report by corporate governance advisory institution ISS (Institutional Shareholder Services) which has recommended that shareholders vote against all resolutions proposed by Natlata Partners at the extraordinary general meeting on 18 April.

PetroNeft says another corporate governance advisory institution, Glass Lewis, recommends against the removal of any directors.

The company has been engaging extensively with shareholders since the EGM circular was issued and is very encouraged by the support to date. Chairman David Golder said: "These independent Corporate Governance groups have completed detailed analysis of the situation and have taken the views of both sides into consideration. We welcome these conclusions and would urge all shareholders to submit their votes for the EGM in accordance with the board's recommendations."

At 2:51pm: [LON:PTR] Petroneft Resources PLC share price was -0.03p at 2.03p

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