Kolibri Global Energy Inc. has recently issued an update regarding its management information circular, which was submitted on October 15, 2025, in anticipation of a special shareholders meeting. This meeting was convened to address a requisition initiated by TFG Asset Management UK LLP, focusing on a proposed resolution to limit the total number of common shares that the company may issue to 37,367,894. The management circular had previously indicated that the board of directors and the company’s officers were firmly against this proposal, collectively representing approximately 17.35% of the outstanding shares.
In a notable development after the circular’s approval, David Neuhauser, a director at Kolibri Global Energy, expressed uncertainty about his voting intentions regarding his shares. This change has now adjusted the total percentage of shares that the officers and directors are committed to voting against the proposed cap to approximately 1.32%. Despite this, Neuhauser maintains his opposition to the resolution in his official capacity as a director. The company plans to keep shareholders informed should Neuhauser clarify his voting stance in the future.
Board’s Opposition to Proposed Resolution
The board of directors at Kolibri has conducted a thorough analysis of the proposed resolution and unanimously concluded that its acceptance would not benefit shareholders, potentially jeopardizing the company’s interests. They recommend that shareholders reject the proposal, highlighting that limiting share issuance would hinder the board’s ability to fulfill its fiduciary duties effectively.
The board underscored that the existing regulatory frameworks already provide adequate protection for shareholders, negating the need for such restrictive measures. They expressed concerns that this resolution could impair Kolibri‘s competitive edge and be viewed unfavorably by the market, ultimately limiting strategic growth opportunities. Additionally, they noted that requiring shareholder approval for any future capital raises would impose unnecessary delays and costs, potentially leading to missed opportunities and diminished shareholder value.
Voting Information and Next Steps
Shareholders are encouraged to review the full circular and take action by voting against the proposed resolution as soon as possible. The deadline for proxy voting is set for 9:00 a.m. Pacific Time on November 21, 2025. In light of the ongoing labor disruptions affecting Canada Post, the company advises shareholders to utilize electronic voting methods via platforms like SEDAR+ or directly on Kolibri’s website.
For registered shareholders, voting can be done online or by phone, while non-registered shareholders are directed to follow specific instructions provided by their financial intermediaries. Should shareholders have any queries regarding the circular or require assistance with the voting process, they can contact Barbara Fox at Kolibri Global Energy.
About Kolibri Global Energy Inc.
Kolibri Global Energy Inc. is a North American energy firm dedicated to the exploration and development of oil and gas projects. Through its subsidiaries, the company manages energy assets primarily located in the United States and continues to seek opportunities for acquisition and growth within the sector. Its shares are publicly traded on both the Toronto Stock Exchange under the ticker KEI and on the NASDAQ as KGEI. For further information, investors can reach out to Wolf E. Regener at +1 (805) 484-3613 or visit www.kolibrienergy.com.
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