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GENEL ENERGY (LON:GENL) Genel Energy PLC: Result of AGM

Directive transparence : information réglementée

06/05/2021 15:30

Genel Energy PLC (GENL)
Genel Energy PLC: Result of AGM

06-May-2021 / 14:30 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


6 May 2021

  

Genel Energy plc

  

Results of Annual General Meeting

 

The Annual General Meeting of Genel Energy plc was held today, Thursday, 6 May 2021, and the results of the votes by shareholders are set out below. The number of ordinary shares of £0.10p each in the Company in issue at the date of the meeting was 277,670,478 and each share attracted one vote.

 

Resolutions 7 and 13 to re-elect Esa Ikaheimonen and Martin Gudgeon respectively were withdrawn prior to the meeting.

The results were as follows:

Resolutions

For

%

Against

%

Withheld

Total lodged

  1. To receive the audited financial statements of the Company for the year ended 31 December 2020

211,282,506

99.99%

17,258

0.01%

15,443

211,315,207

  1. To declare a final distribution of 10 US cents per ordinary share for the financial year ending 31 December 2020

211,315,207

100%

0

0%

0

211,315,207

  1. To approve the Remuneration Policy for Directors

111,404,413

57.94%

80,873,006

42.06%

19,037,788

211,315,207

  1. To approve the Annual Report on Remuneration for the year ended 31 December 2020

129,041,748

61.07%

82,247,207

38.93%

26,252

211,315,207

  1. To re-elect Mr David McManus as a NonExecutive Director

211,015,688

99.87%

283,629

0.13%

15,890

211,315,207

  1. To re-elect Dr Bill Higgs as an Executive Director

130,500,300

61.76%

80,799,017

38.24%

15,890

211,315,207

  1. To re-elect Sir Michael Fallon as a NonExecutive Director

189,955,677

99.93%

131,138

0.07%

21,228,392

211,315,207

  1. To re-elect Mr Ümit Tolga Bilgin as a Non-Executive Director

189,962,201

89.91%

21,325,580

10.09%

27,426

211,315,207

  1. To re-elect Mr Tim Bushall as a Non-Executive Director

211,247,269

99.98%

40,512

0.02%

27,426

211,315,207

  1. To elect Ms Canan Ediboglu as Non-Executive Director

211,246,262

99.98%

41,519

0.02%

27,426

211,315,207

  1. To re-elect Mr Hassan Gozal as a Non-Executive Director

190,042,339

89.94%

21,255,978

10.06%

16,890

211,315,207

  1. To re-elect Mrs Nazli K Williams as a Non-Executive Director.

171,043,215

80.95%

40,255,102

19.05%

16,890

211,315,207

  1. To appoint BDO as the Company's auditor

211,263,358

99.98%

50,849

0.02%

1,000

211,315,207

  1. To authorise the Directors to set the Auditor's fees

211,308,445

100%

6,762

0%

0

211,315,207

  1. To give the Company limited authority to make political donations and expenditure

189,659,709

90.27%

20,449,082

9.73%

4,000

210,112,791

  1. To approve the Genel Energy plc 2021 Performance Share Plan (the "PSP")

111,373,656

57.92%

80,919,799

42.08%

19,021,752

211,315,207

  1. To approve the Genel Energy plc 2021 Deferred Bonus Plan (the "DBP")

111,411,713

57.94%

80,888,075

42.06%

19,015,419

211,315,207

  1. To authorise the Company to purchase its Ordinary Shares

211,282,961

99.99%

20,710

0.01%

11,536

211,315,207

  1. To permit the Company to hold general meetings, other than an AGM, on not less than 14 clear days' notice

211,196,179

99.94%

118,578

0.06%

450

211,315,207

Following the approval of resolution 2, Genel confirms the payment of a final dividend of 10¢ per share in relation to the 2018 financial year. The final dividend payment timetable is below:

  • Ex-dividend date: 13 May 2021
  • Record Date: 14 May 2021
  • Payment Date: 14 June 2021

The Board of Directors notes that, although resolutions 3, 4, 6, 18, and 19 were passed with the requisite majority, c.40% of votes were cast against them. The Board will take note of the voting and engage with shareholders. The Board continues to support Bill Higgs as he successfully delivers the Company strategy and creates value for all shareholders.

The full text of the resolutions may be found in the Notice of the Annual General Meeting, copies of which are available on both the Company's website www.genelenergy.com and on the National Storage Mechanism https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

A copy of the special resolutions (resolutions 20 and 21) passed at the Annual General Meeting, have been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. 

-ends-

 

For further information, please contact:

 

Genel Energy

Andrew Benbow, Head of Communications

+44 20 7659 5100

 

 

Vigo Communications

Patrick d'Ancona 

+44 20 7830 9700

 

Notes to editors:

 

Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production from the Sarta, Taq Taq, and Tawke licences in the Kurdistan Region of Iraq, providing financial resilience that allows investment in growth and the payment of a material and sustainable dividend, even at a low oil price. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.

 

 

 

 

 

 

 

 

 

 



ISIN: JE00B55Q3P39, NO0010894330
Category Code: RAG
TIDM: GENL
LEI Code: 549300IVCJDWC3LR8F94
Sequence No.: 103551
EQS News ID: 1193556

 
End of Announcement EQS News Service

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