Brooge Energy Limited Sets Updated Record Date – Holders must contact brokers to register shares with Continental Stock Transfer & Trust if they are outside the United States and Not U.S. Persons
Brooge Energy Limited (NASDAQ:BROG) has announced an updated record date of September 10, 2025 for its previously announced GulfNav Transaction distribution. The company is specifically addressing non-U.S. shareholders who must register their shares with Continental Stock Transfer & Trust through their brokers to receive their distribution in the form of GulfNav securities and/or Mandatory Convertible Bonds.
U.S. shareholders will receive their distribution in U.S. dollars, while non-U.S. shareholders must ensure they have brokerage accounts capable of receiving GulfNav shares. The company warns that shareholders who haven't responded to previous notices will face delays in receiving their distributions until their status is verified.
BEL emphasizes that after reserving for anticipated liabilities, most of the GulfNav Transaction consideration will be distributed, making future distributions from BEL unlikely.Brooge Energy Limited (NASDAQ:BROG) ha comunicato una nuova data di registrazione aggiornata al 10 settembre 2025 per la distribuzione collegata alla precedente transazione GulfNav. La società si rivolge in particolare agli azionisti non statunitensi: questi devono far registrare le proprie azioni presso Continental Stock Transfer & Trust tramite i loro broker per ricevere la distribuzione sotto forma di titoli GulfNav e/o obbligazioni convertibili obbligatorie.
Gli azionisti statunitensi riceveranno la distribuzione in dollari USA, mentre gli azionisti non statunitensi devono verificare di avere conti di intermediazione in grado di ricevere le azioni GulfNav. La società avverte che chi non ha risposto alle precedenti comunicazioni subirà ritardi nella ricezione delle distribuzioni fino alla verifica del proprio status.
BEL sottolinea che, dopo aver accantonato fondi per le passività previste, la maggior parte del corrispettivo della transazione GulfNav sarà distribuita, rendendo improbabili future distribuzioni da parte di BEL.
Brooge Energy Limited (NASDAQ:BROG) ha anunciado una fecha de registro actualizada para el 10 de septiembre de 2025 correspondiente a la distribución relacionada con la transacción GulfNav previamente anunciada. La compañía se dirige especialmente a los accionistas no estadounidenses: deben registrar sus acciones en Continental Stock Transfer & Trust a través de sus corredores para recibir la distribución en forma de valores de GulfNav y/o bonos convertibles obligatorios.
Los accionistas estadounidenses recibirán la distribución en dólares estadounidenses, mientras que los accionistas no estadounidenses deben asegurarse de contar con cuentas de corretaje capaces de recibir acciones de GulfNav. La compañía advierte que los accionistas que no hayan respondido a avisos previos experimentarán retrasos en la recepción de sus distribuciones hasta que se verifique su estado.
BEL enfatiza que, tras reservar fondos para las pasivos previstos, la mayor parte de la contraprestación de la transacción GulfNav se distribuirá, por lo que es poco probable que BEL realice futuras distribuciones.
Brooge Energy Limited (NASDAQ:BROG)는 이전에 발표된 GulfNav 거래 배당에 대한 최신 기준일을 2025년 9월 10일로 공지했습니다. 회사는 특히 미국 외 주주들에게, 배당을 GulfNav 증권 및/또는 의무 전환사채의 형태로 받기 위해 중개인을 통해 Continental Stock Transfer & Trust에 주식을 등록해야 한다고 안내하고 있습니다.
미국 주주들은 미 달러로 배당을 받게 되며, 미국 외 주주들은 GulfNav 주식을 수령할 수 있는 증권사 계좌가 있는지 확인해야 합니다. 회사는 이전 통지에 응답하지 않은 주주들은 신분이 확인될 때까지 배당 수령이 지연될 것이라고 경고하고 있습니다.
BEL는 예상 부채를 충당한 후 대부분의 GulfNav 거래 대금이 배분될 것이므로 앞으로 BEL로부터 추가 배당이 있을 가능성은 낮다고 강조했습니다.
Brooge Energy Limited (NASDAQ:BROG) a annoncé une date d'enregistrement mise à jour au 10 septembre 2025 pour la distribution liée à la transaction GulfNav précédemment annoncée. La société s'adresse en particulier aux actionnaires non américains : ils doivent enregistrer leurs actions auprès de Continental Stock Transfer & Trust via leurs courtiers pour recevoir la distribution sous forme de titres GulfNav et/ou d'obligations convertibles obligatoires.
Les actionnaires américains recevront leur distribution en dollars US, tandis que les actionnaires non américains doivent s'assurer de détenir des comptes de courtage capables de recevoir des actions GulfNav. La société avertit que les actionnaires qui n'ont pas répondu aux précédents avis subiront des retards dans la réception de leurs distributions jusqu'à ce que leur statut soit vérifié.
BEL souligne qu'après constitution de provisions pour les passifs prévus, la majeure partie de la contrepartie de la transaction GulfNav sera distribuée, rendant improbable toute distribution future de la part de BEL.
Brooge Energy Limited (NASDAQ:BROG) hat ein aktualisiertes Stichtagdatum für die zuvor angekündigte GulfNav-Transaktionsausschüttung auf den 10. September 2025 bekanntgegeben. Die Gesellschaft richtet sich insbesondere an nicht-US-Aktionäre: Diese müssen ihre Aktien über ihre Broker bei Continental Stock Transfer & Trust registrieren, um die Ausschüttung in Form von GulfNav-Werten und/oder Pflichtwandelschuldverschreibungen zu erhalten.
US-Aktionäre erhalten ihre Ausschüttung in US-Dollar, während nicht-US-Aktionäre sicherstellen müssen, dass sie Brokerage-Konten besitzen, die GulfNav-Aktien empfangen können. Die Gesellschaft warnt, dass Aktionäre, die auf frühere Mitteilungen nicht reagiert haben, Verzögerungen bei der Ausschüttung erleiden werden, bis ihr Status verifiziert ist.
BEL betont, dass nach Rückstellungen für erwartete Verbindlichkeiten der Großteil der Gegenleistung aus der GulfNav-Transaktion verteilt wird, sodass künftige Ausschüttungen von BEL unwahrscheinlich sind.
- None.
- Distribution delays likely for non-responsive shareholders and those who haven't properly registered their shares
- Future distributions from BEL unlikely after this distribution
- Complex registration process required for non-U.S. shareholders
Insights
Brooge Energy shareholders face distribution hurdles with critical September 10 record date; non-US holders must register shares promptly or face significant payment delays.
Brooge Energy Limited (BROG) has issued a time-sensitive update regarding its previously announced GulfNav Transaction. The company has extended the record date to September 10, 2025, giving shareholders additional time to register their holdings properly. This extension is critical as it appears many shareholders have failed to take necessary action following the August 14 notice.
The distribution mechanism reveals important structural differences based on shareholder location: non-U.S. shareholders will receive securities (GulfNav shares and/or Mandatory Convertible Bonds), while U.S. shareholders will receive cash in dollars. This differentiated approach creates urgent compliance requirements for international investors, who must actively contact their brokers to register shares with Continental Stock Transfer & Trust before the record date.
The company's statement that "substantially all of the consideration received from the GulfNav Transaction will be distributed" with "subsequent future distributions from BEL unlikely to ever be paid" signals this is effectively a terminal distribution. This suggests the transaction may represent a fundamental restructuring or liquidation of assets, making proper registration absolutely essential for shareholders to receive their rightful consideration.
Non-compliant shareholders face potentially significant delays in receiving distributions while their positions are "regularised" - a particular concern given the company's warning that delays "could be significant." BEL's reserved right to require certification of shareholder status and potential exercise of discretion for non-responsive shareholders adds additional complexity to the process.
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 action in response to the notice of August 14, 2025 and a few have experienced delays with their brokers in registering their shares.
Non U.S. shareholders as of the Record Date will receive their distribution in the form of securities (Shares in GulfNav and/or Mandatory Convertible Bonds). Only U.S. shareholders will receive their distribution paid in U.S. dollars.
Therefore, shareholders that are based outside of the United States and that are not “U.S. persons” (as that term is defined in the U.S. Securities Act of 1933, as amended) that are not already on the shareholder register with an address outside the United States must contact their broker in order to register their shares with Continental Stock Transfer & Trust well in advance of the Record Date. Failure to do so will result in a delay to payment of the distributions to them whilst their position is regularised. They should also ensure that they have a brokerage account that will permit the receipt of shares in GulfNav.
BEL reserves its rights to require certifications to confirm U.S. or non U.S. status before any distribution is paid to shareholders to ensure that shareholders receive the correct form of distribution. Shareholders who have taken no action in response to the notices will need to provide evidence of their domicile which will cause a delay (which could be significant) in payment to them at completion. BEL will also consider exercising its discretion to allocate non U.S. domicile status to non-responsive shareholders where appropriate.
In order to give all shareholders a further opportunity to assist in the process of collecting the data, BEL has extended the record date to September 10, 2025 (the “Record Date”).
The exact amounts of any such distribution have not yet been finalized, but it is anticipated that after reserving for anticipated liabilities, substantially all of the consideration received from the GulfNav Transaction will be distributed as part of the distribution, such that subsequent future distributions from BEL are unlikely to ever be paid.
Capitalized terms used in this notice have the meanings given to them in the May 27, 2025 press release.
About Brooge Energy Limited
BEL is a Cayman Islands-based infrastructure provider which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services. BEL conducts the business and operations through its subsidiary BPGIC FZE. BPGIC FZE is strategically located outside the Strait of Hormuz at the Port of Fujairah in the Emirate of Fujairah in the UAE. Its business differentiates itself from competitors by providing customers with fast order processing times, excellent customer service and high accuracy blending services with low product losses.
Forward-Looking Statements
This press release contains statements that are not historical facts and constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements reflect management’s current views based on certain assumptions, and they involve risks and uncertainties. Actual results, events or performance may differ materially from the forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including risks described in public reports filed by BEL with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. BEL does not undertake any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contact
KCSA Strategic Communications
Valter Pinto, Managing Director
+1 212-896-1254
BROG@kcsa.com
FAQ
What is the new record date for Brooge Energy's (BROG) distribution?
How will Brooge Energy (BROG) distribute the GulfNav Transaction consideration to different shareholders?
What must non-U.S. shareholders of Brooge Energy (BROG) do to receive their distribution?
Will there be future distributions from Brooge Energy (BROG) after the GulfNav Transaction?
What happens if Brooge Energy (BROG) shareholders don't take action to register their shares?
