Result of AGM

RNS Number : 6409Z
Energean PLC
24 May 2021
 

Energean plc

("Energean" or the "Company")

 

Results of AGM

 

 

London, 24 May 2021  - Energean plc (LSE: ENOG, TASE: ), announces that at its Annual General Meeting ("AGM") held today at the registered office of the Company, all resolutions put before the meeting were duly passed.

 

Details of the voting by way of a poll at the AGM in respect of each resolution are shown in the table below and will shortly be available on the Company's website,  www.energean.com .

 

 Res. Number

Resolution

VOTES

FOR

%

FOR

VOTES

AGAINST

%

AGAINST

VOTES

TOTAL

% of ISSUED SHARE CAPITAL

VOTED

VOTES

WITHHELD

1.

REPORT AND ACCOUNTS 

137,449,240

99.98%

32,048

0.02%

137,481,288

77.61%

460,850

2.*

REMUNERATION REPORT 

105,565,663

76.53%

32,376,475

23.47%

137,942,138

77.87%

0

3.*

REMUNERATION POLICY 

103,849,415

75.28%

34,092,723

24.72%

137,942,138

77.87%

0

4.

RE-APPOINT K SIMON 

137,446,596

99.97%

47,292

0.03%

137,493,888

77.62%

448,250

5.

RE-APPOINT M RIGAS 

130,224,310

94.41%

7,717,500

5.59%

137,941,810

77.87%

0,328

6.

RE-APPOINT P BENOS 

111,570,753

80.88%

26,371,057

19.12%

137,941,810

77.87%

0,328

7.

RE-APPOINT A BARTLETT 

137,937,388

100.00%

0

0.00%

137,941,810

77.87%

0,328

8.

RE-APPOINT R PECK 

137,463,987

99.96%

54,474

0.04%

137,518,461

77.63%

423,677

9.

RE-APPOINT E TOPOUZOGLOU

137,660,372

99.80%

281,438

0.20%

137,941,810

77.87%

0,328

10.

RE-APPOINT A LASHINSKY 

137,933,810

99.99%

8,000

0.01%

137,941,810

77.87%

0,328

11.

APPOINT K WOOD 

137,866,618

99.95%

75,520

0.05%

137,942,138

77.87%

0

12.

APPOINT A PERSIANIS 

137,941,810

100.00%

0

0.00%

137,941,810

77.87%

0,328

13.

RE-APPOINT AUDITORS 

137,940,858

100.00%

0,328

0.00%

137,941,186

77.87%

0,952

14.

REMUNERATION OF AUDITORS

137,936,226

100.00%

5,584

0.00%

137,941,810

77.87%

0,328

15

ALLOT SECURITIES 

115,495,887

83.73%

22,445,923

16.27%

137,941,810

77.87%

0,328

16

DISAPPLY PRE-EMPTION RGTS 1

115,684,687

83.86%

22,257,123

16.14%

137,941,810

77.87%

0,328

17

PRE-EMPTION RGTS 2 

115,625,002

83.82%

22,316,807

16.18%

137,941,809

77.87%

0,329

18.

NOTICE OF MEETINGS 

112,249,246

81.37%

25,692,892

18.63%

137,942,138

77.87%

0

19.

MARKET PURCHASES 

126,634,701

91.81%

11,301,852

8.19%

137,936,553

77.87%

5,585

 

 

* The Company notes that resolutions 2 and 3, which sought approval for the Remuneration Report and Remuneration Policy, received less than 80% of the votes in favour. The Company had carried out an extensive consultation with a wide range of shareholders ahead of finalising the said policy and the Board believes that the final policy that has now been approved is in the interests of all stakeholders.

 

The Company will, however, undertake a detailed review of any further feedback received on these resolutions to ensure it fully understands the reasons behind the voting result and allow it to understand shareholders' concerns. The Board will continue to consider the feedback received from shareholders and stakeholders as the Remuneration Policy is implemented.

 

The Board takes seriously its responsibilities to represent the interests of shareholders and to uphold the highest standards of corporate governance and is open to constructive dialogue with shareholders and shareholder bodies. Accordingly, it will continue to engage with shareholders over the coming months in respect of the votes received against these resolutions. Further, in line with the provisions of the 2018 UK Corporate Governance Code, the Company will provide an update on the views received from shareholders on these issues and any actions taken in response, no later than six months' from today's date.


Enquiries 



Kate Sloan, Head of IR, ECM & Communications

 

 

Tel: +44 (0)7917 608 645 

 

About Energean plc

 

Established in 2007, Energean is a London Premium Listed FTSE 250 and Tel Aviv 35 Listed E&P company with operations in nine countries across the Mediterranean and UK North Sea. Since IPO, Energean has grown to become the leading independent, gas-focused E&P company in the Eastern Mediterranean, with a strong production and development growth profile. The Company explores and invests in new ideas, concepts and solutions to produce and develop energy efficiently, at low cost and with a low carbon footprint.

Energean's production comes mainly from the Abu Qir field in Egypt and fields in Southern Europe and the UK. The company's flagship project is the 3.5 Tcf Karish, Karish North and Tanin development, offshore Israel, where it intends to use the newbuild fully-owned FPSO Energean Power, which will be the only FPSO in the Eastern Mediterranean. Energean expects to deliver first gas in mid-2022. Energean Israel Limited has signed contracts for 7.4 Bcm/yr of gas sales into the Israeli domestic market, which have floor pricing, take-or-pay and/or exclusivity provisions that largely insulate the project's revenues against global commodity price fluctuations and underpin Energean's goal of paying a meaningful and sustainable dividend.

With a strong track record of growing reserves and resources, Energean is focused on maximising production from its large-scale gas-focused portfolio to deliver material free cash flow and maximise total shareholder return in a sustainable way. ESG and health and safety are paramount to Energean; it aims to run safe and reliable operations, whilst targeting carbon-neutrality across its operations by 2050.

www.energean.com  

 

 

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