07:02 AM EDT, 03/11/2024 (MT Newswires) -- i3 Energy plc ( ITEEF ) , an independent oil and gas company with assets and operations in the UK and Canada, earlier Monday announced that a Notice of General Meeting will be posted to shareholders on March 25, 2024. The Circular will contain details of a proposed normal course reduction of capital, being undertaken to ensure there are sufficient distributable reserves to facilitate dividend payments in the long term.

This announcement, and the filing by ii3 of a Notice of Meeting and Record Date on SEDAR+, is made earlier than required by the Companies Act 2006 in the UK in order to satisfy Canadian securities laws requirements.

This Capital Reduction process is not required to facilitate the payment of the next quarterly dividend, i3 said.

i3 Energy ( ITEEF ) is down 2% in UK trade.