Energean Oil & Gas plc
("Energean" or the "Company")
Results of AGM
London, 21 May 2020 - Energean Oil and Gas plc (LSE: ENOG, TASE: אנאג), the oil and gas producer focused on the Mediterranean, today 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 |
% |
VOTES |
% |
VOTES |
% of ISC VOTED |
VOTES |
| 01/01 |
ACCOUNTS AND REPORTS |
140,326,231 |
100.00 |
28 |
0.00 |
140,326,259 |
79.24% |
644,978 |
| 01/02 |
REMUNERATION REPORT |
134,174,655 |
95.18 |
6,796,582 |
4.82 |
140,971,237 |
79.60% |
0 |
| 01/03 |
APPOINT K SIMON |
134,330,256 |
95.31 |
6,614,499 |
4.69 |
140,944,755 |
79.59% |
26,482 |
| 01/04 |
APPOINT M RIGAS |
134,344,576 |
95.30 |
6,626,661 |
4.70 |
140,971,237 |
79.60% |
0 |
| 01/05 |
APPOINT P BENOS |
134,340,393 |
95.30 |
6,629,781 |
4.70 |
140,970,174 |
79.60% |
0 |
| 01/06 |
APPOINT A BARTLETT |
140,852,947 |
99.92 |
118,290 |
0.08 |
140,971,237 |
79.60% |
0 |
| 01/07 |
APPOINT R PECK |
140,373,958 |
99.58 |
597,279 |
0.42 |
140,971,237 |
79.60% |
0 |
| 01/08 |
APPOINT O MARANI |
140,852,947 |
99.92 |
118,290 |
0.08 |
140,971,237 |
79.60% |
0 |
| 01/09 |
APPOINT E TOPOUZOGLOU |
133,881,518 |
95.11 |
6,885,566 |
4.89 |
140,767,084 |
79.49% |
204,153 |
| 01/10 |
APPOINT D BONANNO |
133,152,036 |
94.46 |
7,803,919 |
5.54 |
140,955,955 |
79.60% |
15,282 |
| 01/11 |
APPOINT A LASHINSKY |
140,955,927 |
100.00 |
28 |
0.00 |
140,955,955 |
79.60% |
15,282 |
| 01/12 |
REAPPOINT AUDITOR |
138,503,874 |
98.29 |
2,416,102 |
1.71 |
140,919,976 |
79.58% |
51,261 |
| 01/13 |
AUDITOR REMUNERATION |
138,467,437 |
98.22 |
2,503,800 |
1.78 |
140,971,237 |
79.60% |
0 |
| 01/14* |
ALLOT SECURITIES |
103,820,704 |
73.65 |
37,150,533 |
26.35 |
140,971,237 |
79.60% |
0 |
| 01/15** |
PRE-EMPTION RIGHTS |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
| 01/16** |
FURTHER DISAPPLICATION OF PRE-EMPTION RIGHTS |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
| 01/17 |
MEETING NOTICE TIMES |
133,993,809 |
95.06 |
6,962,146 |
4.94 |
140,955,955 |
79.60% |
15,282 |
| 01/18 |
MARKET PURCHASES |
138,530,106 |
98.27 |
2,439,221 |
1.73 |
140,969,327 |
79.60% |
1,910 |
| 01/19 |
NAME CHANGE |
140,932,808 |
99.97 |
38,429 |
0.03 |
140,971,237 |
79.60% |
0 |
* The Company notes that a significant number of votes were cast against resolution 14, which sought authority to allot ordinary shares in the Company.
The Company will undertake a detailed review of any feedback received on this resolution to ensure it fully understands the reasons behind the voting result and allow it to understand shareholders' concerns.
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, we will provide an update on the views received from shareholders on these issues and actions taken in response no later than in six months' time.
** This resolution was withdrawn before the meeting
Enquiries
| Investors and Analysts |
|
| Kate Sloan, Head of IR & ECM
Media |
Tel: +44 07917 608 645 |
Sotiris Chiotakis Tel: +30 210 8174 242
About Energean Oil & Gas plc
Energean is a London Premium Listed FTSE 250 and Tel Aviv 35 Listed E&P company with operations offshore Israel, Greece and the Adriatic. In August 2017 the Company received Israeli Governmental approval for the FDP for its flagship Karish-Tanin gas development project, where it intends to use the only FPSO in the Eastern Mediterranean to produce first gas in 2021. Energean has already signed firm contracts for 5.6 Bcm/yr of gas sales into the Israeli domestic market. Future gas sales agreements will focus on both the growing Israeli domestic market and key export markets.
Energean has nine exploration licences offshore Israel, and a 25-year exploitation licence for the Katakolo offshore block in Western Greece and additional exploration potential in its other licences in Western Greece and Montenegro.
On 4 July 2019, Energean announced the conditional acquisition of Edison E&P for $750 million plus $100 million of contingent consideration. On 23 December 2019, Energean announced the exclusion of the Algerian assets from the transaction. The acquisition of Edison E&P, exclusive of the Algerian assets and Norwegian subsidiary is expected to be finalised in 3Q 2020.