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Genel Energy PLC (GENL)
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Resolutions 7 and 13 to re-elect Esa Ikaheimonen and Martin Gudgeon respectively were withdrawn prior to the meeting.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:
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Resolutions
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For
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%
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Against
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%
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Withheld
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Total lodged
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- To receive the audited financial statements of the Company for the year ended 31 December 2020
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211,282,506
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99.99%
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17,258
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0.01%
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15,443
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211,315,207
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- To declare a final distribution of 10 US cents per ordinary share for the financial year ending 31 December 2020
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211,315,207
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100%
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0
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0%
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0
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211,315,207
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- To approve the Remuneration Policy for Directors
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111,404,413
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57.94%
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80,873,006
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42.06%
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19,037,788
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211,315,207
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- To approve the Annual Report on Remuneration for the year ended 31 December 2020
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129,041,748
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61.07%
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82,247,207
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38.93%
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26,252
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211,315,207
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- To re-elect Mr David McManus as a Non‑Executive Director
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211,015,688
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99.87%
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283,629
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0.13%
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15,890
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211,315,207
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- To re-elect Dr Bill Higgs as an Executive Director
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130,500,300
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61.76%
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80,799,017
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38.24%
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15,890
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211,315,207
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- To re-elect Sir Michael Fallon as a Non‑Executive Director
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189,955,677
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99.93%
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131,138
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0.07%
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21,228,392
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211,315,207
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- To re-elect Mr Ümit Tolga Bilgin as a Non-Executive Director
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189,962,201
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89.91%
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21,325,580
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10.09%
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27,426
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211,315,207
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- To re-elect Mr Tim Bushall as a Non-Executive Director
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211,247,269
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99.98%
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40,512
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0.02%
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27,426
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211,315,207
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- To elect Ms Canan Ediboglu as Non-Executive Director
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211,246,262
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99.98%
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41,519
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0.02%
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27,426
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211,315,207
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- To re-elect Mr Hassan Gozal as a Non-Executive Director
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190,042,339
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89.94%
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21,255,978
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10.06%
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16,890
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211,315,207
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- To re-elect Mrs Nazli K Williams as a Non-Executive Director.
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171,043,215
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80.95%
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40,255,102
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19.05%
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16,890
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211,315,207
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- To appoint BDO as the Company's auditor
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211,263,358
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99.98%
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50,849
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0.02%
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1,000
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211,315,207
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- To authorise the Directors to set the Auditor's fees
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211,308,445
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100%
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6,762
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0%
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0
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211,315,207
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- To give the Company limited authority to make political donations and expenditure
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189,659,709
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90.27%
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20,449,082
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9.73%
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4,000
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210,112,791
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- To approve the Genel Energy plc 2021 Performance Share Plan (the "PSP")
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111,373,656
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57.92%
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80,919,799
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42.08%
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19,021,752
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211,315,207
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- To approve the Genel Energy plc 2021 Deferred Bonus Plan (the "DBP")
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111,411,713
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57.94%
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80,888,075
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42.06%
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19,015,419
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211,315,207
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- To authorise the Company to purchase its Ordinary Shares
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211,282,961
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99.99%
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20,710
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0.01%
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11,536
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211,315,207
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- To permit the Company to hold general meetings, other than an AGM, on not less than 14 clear days' notice
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211,196,179
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99.94%
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118,578
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0.06%
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450
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211,315,207
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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:
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Genel Energy
Andrew Benbow, Head of Communications
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+44 20 7659 5100
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Vigo Communications
Patrick d'Ancona
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+44 20 7830 9700
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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.
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