Result of General Meeting

Diversified Energy Company PLC

04 December 2023

 

4 December 2023

Diversified Energy Company PLC

("Diversified" or the "Company")

Result of General Meeting

Diversified Energy Company PLC (LSE: DEC) is pleased to announce that the resolutions put to the shareholders at the General Meeting held earlier today were overwhelmingly passed by the shareholders, further demonstrating confidence in the Company's strategic plan to expand its US investor base and to move forward with the US Listing of the Ordinary Shares on the New York Stock Exchange.

Having actively engaged with many shareholders ahead of the General Meeting and throughout the year, the Board would like to thank the Company's shareholders for their input and continued support. The Board currently anticipates that the US Listing will become effective later in December 2023.

The total votes were cast as follows:

Resolution			For	%		Against	%		Withheld
1	Authority to consolidate the Existing Shares		559,870,186	99.63%		2,064,761	0.37%		473,240
2	Authority to amend the Existing Articles		559,668,418	99.66%		1,905,938	0.34%		833,861

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 General Meeting are set out in the shareholder circular, including a notice of general meeting (the "Circular") circulated to the Company's shareholders on 16 November 2023 and has also been submitted to the National Storage Mechanism and will shortly be available for inspection online at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Issue of one ordinary share and admission of Ordinary Shares in Conjunction with Share Consolidation and Total Voting Rights

In conjunction with the consolidation of the Company's existing shares, the Company has today allotted and issued one new ordinary share of £0.01 credited as fully paid up by way of capitalisation of its distributable reserves to round up holdings to a number, which following Consolidation, leaves a whole number of Ordinary Shares. An application has been made to the Financial Conduct Authority and to the London Stock Exchange for admission of one ordinary share of £0.01 and the 48,223,835 Ordinary Shares of £0.20 each to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities ("Admission"). For clarity, this Admission is in replacement of the Company's previously listed 964,476,699 Ordinary Shares of £0.01 each. It is expected that Admission will occur at 8 a.m. on 5 December 2023. The ISIN for the Ordinary Shares following Consolidation is GB00BQHP5P93.

Following Admission, the Company's total issued share capital will consist of 48,223,835 Ordinary Shares of £0.20 each in the Company. The Company does not hold any Ordinary Shares in treasury. Therefore, following Admission, the total number of voting rights in the Company will be 48,223,835. This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms not otherwise defined in the text of this announcement have the meanings given in the Circular.

Diversified Energy Company PLC	[phone]
Doug Kris	[e-mail]
www.div.energy
FTI Consulting	[e-mail]
US & UK Financial Public Relations

About Diversified Energy Company PLC

Diversified is a leading independent energy company focused on producing, marketing, transporting, and retiring primarily natural gas and liquids assets. Our differentiated strategy provides the solution for existing long-life assets that have become non-core to traditional exploration companies. We acquire and then invest in each asset to improve environmental and production performance and ultimately retire the wells in a safe and environmentally secure process. This stewardship approach makes us the Right Company at the Right Time, enabling us to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

 

END