Results of Annual General Meeting

RNS Number : 4234J

Diversified Energy Company PLC

26 April 2022

 

26 April 2022

Diversified Energy Company PLC

("Diversified" or the "Company")

Results of Annual General Meeting

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

The total votes were cast as follows:

Resolution			For	%		Against	%		Withheld
1	Annual Report		690,974,255	100  %		1,472,757	-  %		166,015
2	Final Dividend		692,598,183	100  %		1,000	-  %		13,844
3	To re-appoint Auditor		692,473,422	100  %		39,681	- %		99,924
4	Auditor's Remuneration		692,528,137	100  %		35,286	- %		49,604
5	Re-elect David Edward Johnson		688,641,757	99  %		3,945,083	1 %		26,187
6	Re-elect Robert "Rusty" Russell Hutson, Jr.		691,446,814	100  %		1,139,251	- %		26,962
7	Re-elect Bradley Grafton Gray		691,448,909	100  %		1,137,836	-   %		26,282
8	Re-elect Martin Keith Thomas		643,432,140	93  %		49,154,105	7 %		26,782
9	Re-elect David Jackson Turner, Jr.		686,675,128	99  %		5,911,117	1  %		26,782
10	Re-elect Sandra Mary Stash		691,542,581	100  %		1,045,257	- %		25,189
11	Re-elect Melanie Anne Little		645,077,449	93  %		47,510,388	7 %		25,190
12	To elect Sylvia Kerrigan		691,648,956	100  %		912,117	-  %		51,954
13	Authority to allot shares		610,680,791	88  %		81,883,059	12 %		49,177
14	Directors' Remuneration Report		606,381,459	88  %		86,165,071	12 %		66,497
15	Directors' Remuneration Policy		553,460,616	83  %		115,861,586	17 %		23,290,825
16	Political Donations & Expenditures		678,102,210	98  %		14,428,471	2 %		82,346
17	Authority to dis-apply pre-emption rights		608,794,631	88  %		83,604,763	12 %		212,769
18	Authority to dis-apply pre-emption rights (Acquisitions)		542,552,815	78  %		149,848,576	22  %		210,772
19	Authority to purchase own shares		692,429,965	100  %		44,220	- %		138,478
20	Amendment of Articles		690,908,669	100  %		23,507	-  %		1,679,987
21	Short Notice General Meeting		683,581,650	99  %		9,005,339	1  %		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 78.36%.

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.

 

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