AGM and General Meeting Points

RNS Number : 5199G

Tullow Oil PLC

12 May 2011

 

Tullow Oil plc

12 May 2011

TULLOW OIL PLC ("Tullow" or the "Company")

RESOLUTIONS PASSED AT THE ANNUAL GENERAL MEETING AND AT THE GENERAL MEETING HELD ON 12 MAY 2011

Tullow announces that at the Annual General Meeting held earlier today, all resolutions set out in the Notice of Annual General Meeting put to the Annual General Meeting were passed by the requisite majority.  Each of the resolutions put to the Annual General Meeting was voted on by way of a poll and the results are set out below:

	Resolution	For (No. of shares)	For (%)	Against (No. of shares)	Against (%)	Votes Withheld (No. of shares)	Total issued share capital instructed (%)
1.	To receive and adopt the annual accounts and associated reports	612,150,720	98.72%	7,935,630	1.28%	734,875	69.69%
2.	To declare a final dividend of 4.0p per ordinary share	619,445,724	99.90%	609,238	0.10%	766,263	69.68%
3.	To receive and approve the Directors' Remuneration Report	498,548,774	92.12%	42,623,621	7.88%	79,636,329	60.82%
4.	To elect Tutu Agyare as a Director	587,076,689	99.02%	5,827,357	0.98%	27,915,822	66.63%
5.	To re-elect David Bamford as a Director	587,135,648	99.02%	5,822,779	0.98%	27,861,841	66.64%
6.	To re-elect Graham Martin as a Director	611,914,472	98.93%	6,623,966	1.07%	2,281,830	69.51%
7.	To re-elect Steven McTiernan as a Director	565,480,995	97.34%	15,468,852	2.66%	39,870,878	65.29%
8.	To re-elect Pat Plunkett as a Director	607,677,339	98.04%	12,145,687	1.96%	997,699	69.66%
9.	To re-appoint as auditors Deloitte LLP and authorise the Directors to determine their remuneration	604,042,352	98.50%	9,214,758	1.50%	7,563,904	68.92%
10.	To renew Directors' authority to allot shares	616,738,076	99.48%	3,219,002	0.52%	864,147	69.67%
11.	To dis-apply statutory pre-emption rights*	610,053,846	98.39%	10,005,691	1.61%	761,688	69.68%
12.	To authorise the Company to hold general meetings on no less than 14 clear days' notice*	579,562,011	93.46%	40,529,398	6.54%	729,816	69.69%

Tullow also announces at the General Meeting held immediately after the Annual General Meeting, the resolution set out in the Notice of General Meeting put to the General Meeting was passed by the requisite majority.  The resolution was voted on by way of a poll and the result is set out below:

Resolution	For (No. of shares)	For (%)	Against (No. of shares)	Against (%)	Votes Withheld (No. of shares)	Total issued share capital instructed (%)
To amend the rules of the Tullow Oil 2005 Performance Shares Plan	331,294,707	63.09%	193,786,149	36.91%	90,705,946	59.01%

Notes:

*               Special resolution.

1.             Proxy appointments which gave discretion to the Chairman of the Annual General Meeting or the General Meeting (as the case may be) have been included in the "For" total of the appropriate  resolution.

2.             A "Vote Withheld" is not a vote in law and is not counted in the calculation of the proportion of votes "For" or "Against" any resolution nor in the calculation of the proportion of "Total issued share capital instructed" for any resolution.

3.             Votes "For" and "Against" any resolution are expressed as a percentage of votes validly cast for that resolution.

4.             The number of shares in issue at 6.00 p.m. on 10 May 2011 was 889,826,217 (the " Share Capital") and at that time, Tullow did not hold any shares in treasury. 

5.             The proportion of "Total issued share capital instructed" for any resolution is the total of votes validly cast for that resolution (i.e. the total of votes "For" and "Against" that resolution) expressed as a percentage of the Share Capital.

The full text of the resolutions passed at both the Annual General Meeting and the General Meeting can be found in the Notice of Annual General Meeting and Notice of General Meeting (as appropriate), both of which are available for inspection at the National Storage Mechanism http://www.hemscott.com/nsm.do and also on the Company's website at http://www.tullowoil.com.  A copy of the resolutions (other than resolutions concerning the ordinary business at the Annual General Meeting) passed at both the Annual General Meeting and the General Meeting will shortly be submitted to the National Storage Mechanism and will also be available for inspection at http://www.hemscott.com/nsm.do.

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