Replacement: Results of Annual General Meeting

RNS Number : 8470J

Diversified Energy Company PLC

29 April 2022

 

The following amendments have been made to the "Results of Annual General Meeting" released on 26 April 2022 at 4:36pm under RNS No  4234J

The Company is amending its Annual General Meeting shareholder vote information (reported on 26 April 2022) to include 2,200,000 votes (0.32% of total shares outstanding) cast in person at the meeting ("For" each Resolution) and inadvertently excluded from the previously reported results

All other details remain unchanged. The full amended text is shown below.

29 April 2022

Diversified Energy Company PLC

("Diversified" or the "Company")

Corrected: Results of Annual General Meeting

Explanatory Note: The Company is amending its Annual General Meeting shareholder vote information (reported on 26 April 2022) to include 2,200,000 votes (0.32% of total shares outstanding) cast in person at the meeting ("For" each Resolution) and inadvertently excluded from the previously reported results.

Diversified Energy Company PLC (LSE: DEC) is pleased to announce that all resolutions put to shareholders at the Company's Annual General Meetings held on 26 April 2022 were duly passed.

The total votes were cast as follows:

Resolution			For	%		Against	%		Withheld
1	Annual Report		693,174,255	99.79%		1,472,757	0.21%		166,015
2	Final Dividend		694,798,183	100.00%		1,000	-%		13,844
3	To re-appoint Auditor		694,673,422	99.99%		39,681	0.01%		99,924
4	Auditor's Remuneration		694,728,137	99.99%		35,286	0.01%		49,604
5	Re-elect David Edward Johnson		690,841,757	99.43%		3,945,083	0.57%		26,187
6	Re-elect Robert "Rusty" Russell Hutson, Jr.		693,646,814	99.84%		1,139,251	0.16%		26,962
7	Re-elect Bradley Grafton Gray		693,648,909	99.84%		1,137,836	0.16%		26,282
8	Re-elect Martin Keith Thomas		645,632,140	92.93%		49,154,105	7.07%		26,782
9	Re-elect David Jackson Turner, Jr.		688,875,128	99.15%		5,911,117	0.85%		26,782
10	Re-elect Sandra Mary Stash		693,742,581	99.85%		1,045,257	0.15%		25,189
11	Re-elect Melanie Anne Little		647,277,449	93.16%		47,510,388	6.84%		25,190
12	To elect Sylvia Kerrigan		693,848,956	99.87%		912,117	0.13%		51,954
13	Authority to allot shares		612,880,791	88.21%		81,883,059	11.79%		49,177
14	Directors' Remuneration Report		608,581,459	87.60%		86,165,071	12.40%		66,497
15	Directors' Remuneration Policy		555,660,616	82.75%		115,861,586	17.25%		23,290,825
16	Political Donations & Expenditures		680,302,210	97.92%		14,428,471	2.08%		82,346
17	Authority to dis-apply pre-emption rights		610,994,631	87.96%		83,604,763	12.04%		212,769
18	Authority to dis-apply pre-emption rights (Acquisitions)		544,752,815	78.43%		149,848,576	21.57%		210,772
19	Authority to purchase own shares		694,629,965	99.99%		44,220	0.01%		138,478
20	Amendment of Articles		693,108,669	100.00%		23,507	-%		1,679,987
21	Short Notice General Meeting		685,781,650	98.70%		9,005,339	1.30%		25,174

Note: A vote "Withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" or "Against" shown.

The full text of the resolutions passed at the AGM has been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

The Board of Diversified Energy Company PLC (the "Board") is pleased to note that shareholders approved all resolutions at today's AGM, most with substantial support. Having actively engaged with many shareholders ahead of the AGM and throughout the year, the Board would like to thank shareholders for their input and continued support.

Whilst pleased that shareholders approved most of the resolutions with majorities in excess of 80%, the Board notes that Resolution 18 (Disapplication of Pre-emption Rights for acquisitions and other capital investment) was passed with a majority of 78.43%.

Resolutions 17 and 18 (both in relation to the disapplication of pre-emption rights) followed the provisions of the Pre-Emption Group's Statement of Principles for the disapplication of pre-emption rights and reflect UK listed company market practice. The Board considers the flexibility afforded by the authorities to allot shares without pre-emption rights to be in the best interests of shareholders.

The Board is committed to maintaining an open and transparent dialogue with the Company's shareholders and in accordance with provision 4 of the UK Corporate Governance Code, it will continue this engagement to enhance its understanding of the views of shareholders who voted against this resolution including any specific concerns on share allotment authorities. The Company will publish an update on this engagement, in accordance with the UK Corporate Governance Code, within six months of the 2022 AGM and a final summary in the Company's Annual Report for the 2022 Financial Yea r.

For further information, please contact:

Diversified Energy Company PLC	[phone]
Jim Sheehan
div.energy
[e-mail]
Buchanan	[phone]
Financial Public Relations
Ben Romney
Chris Judd
Jon Krinks
James Husband
[e-mail]

About Diversified Energy Company PLC

Diversified Energy Company PLC is an independent energy company engaged in the production, marketing and transportation of primarily natural gas related to its synergistic US onshore upstream and midstream assets.

 

END

 

 

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