Result of AGM

RNS Number : 2745I

EnQuest PLC

28 May 2014

 



28 May 2014               

EnQuest PLC ("EnQuest" or the "Company")

Voting results of the Annual General Meeting held on 28 May 2014

EnQuest announces that at the Company's Annual General Meeting held today, all resolutions set out in the Notice of Annual General Meeting and put to the meeting were passed by the requisite majority.

Set out below are the voting proxies in respect of the resolutions received by the Company at the close of register on 26 May 2014. The number of ordinary shares in issue at that date was 802,660,757.

Resolution	For *	%	Against	%	Votes Total	Withheld **
Resolution 1 Annual Report & Accounts	450,378,894	98.525%	6,743,806	1.475%	457,122,700	2,684,407
Resolution 2 Re-election of Dr James Buckee	441,290,779	96.717%	14,978,606	3.283%	456,269,385	3,536,853
Resolution 3 Re-election of Amjad Bseisu	439,094,354	96.050%	18,058,512	3.950%	457,152,866	2,648,868
Resolution 4 Re-election of Jonathan Swinney	456,198,979	99.790%	960,406	0.210%	457,159,385	2,646,719
Resolution 5 Re-election of Helmut Langanger	452,217,978	98.919%	4,939,868	1.081%	457,157,846	2,648,392
Resolution 6 Re-election of Jock Lennox	450,027,460	98.827%	5,342,273	1.173%	455,369,733	4,436,371
Resolution 7 Re-election of Phil Nolan	440,820,389	98.697%	5,820,233	1.303%	446,640,622	13,161,112
Resolution 8 Re-election of Clare Spottiswoode	409,160,416	91.791%	36,589,962	8.209%	445,750,378	14,051,356
Resolution 9 Re-appointment of auditors	434,982,823	95.151%	22,169,205	4.849%	457,152,028	2,654,210
Resolution	For*	%	Against	%	Votes Total	Withheld**
Resolution 10 Directors Remuneration Policy	438,025,705	98.668%	5,912,836	1.332%	443,938,541	15,867,495
Resolution 11 Directors Remuneration Report	445,339,754	97.995%	9,113,580	2.005%	454,453,334	5,352,702
Resolution 12 Political Donations	442,429,584	96.786%	14,692,262	3.214%	457,121,846	2,680,102
Resolution 13 Authority to allot shares	456,086,568	99.909%	416,893	0.091%	456,503,461	3,302,857
Resolution 14*** Disapplication of pre-emption rights	450,140,194	98.473%	6,978,511	1.527%	457,118,705	2,687,747
Resolution 15*** Authority to purchase own shares	457,004,961	99.969%	140,247	0.031%	457,145,208	2,661,244
Resolution 16*** Amend Articles of Association	456,930,896	99.964%	164,908	0.036%	457,095,804	2,703,477

* Includes discretionary votes

** A vote withheld is not a vote in law and is not counted for the purposes of the calculation of the proportion of votes 'For' or 'Against' a resolution.

*** Indicates a Special Resolution,

The full text of each resolution, along with details of the proxy votes received by the Company before the AGM in respect of each resolution, will be available on the company website, www.enquest.com 

The Company has today submitted to the National Storage Mechanism copies of the Resolutions passed at the Annual General Meeting and these will shortly be available for inspection at www.hemscott.com/nsm.do 

ENDS

For further information please contact:

EnQuest PLC                                                                                                                     

Tel: [phone]

Stefan Ricketts (General Counsel and Company Secretary)

Notes to editors

EnQuest is the largest UK independent producer in the UK North Sea.  EnQuest PLC trades on both the London Stock Exchange and the NASDAQ OMX Stockholm.  It is a constituent of the FTSE 250 index.  Its operated assets include the Thistle, Deveron, Heather, Broom, West Don, Don Southwest, Conrie, Kittiwake, Mallard, Gadwall, Goosander and Grouse producing fields and the Alma/Galia and Kraken developments; EnQuest also has an interest in the non-operated Alba producing oil field.  EnQuest had 31 UK production licences at the start of 2014. This increases to 37 production licences with the inclusion of the assets from the acquisition of the Greater Kittiwake Area which completed in Q1 2014 and the Don North East area licence which was offered 'out of round' to EnQuest in Q1 2014; these licences cover 47 blocks or part blocks in the UKCS, 30 of the licences are operated by EnQuest.

 
EnQuest believes that the UKCS represents a significant hydrocarbon basin in a low risk region, which continues to benefit from an extensive installed infrastructure base and skilled labour.  EnQuest believes that its assets offer material organic growth opportunities, driven by exploitation of current infrastructure on the UKCS and the development of low risk near field opportunities.

EnQuest has begun replicating its existing model in the UKCS by targeting previously underdeveloped assets in a small number of other maturing regions; complementing our operations and utilising its skills in the UK North Sea. 

Forward looking statements: This announcement may contain certain forward-looking statements with respect to EnQuest's expectation and plans, strategy, management's objectives, future performance, production, costs, revenues, reserves and other trend information.  These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may occur in the future.  There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements and forecasts.   The statements have been made with reference to forecast price changes, economic conditions and the current regulatory environment.  Nothing in this presentation should be construed as a profit forecast.  Past share performance cannot be relied on as a guide to future performance.

 

END

 

 

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