Result of Requisitioned General Meeting

RNS Number : 4634B

Good Energy Group PLC

11 February 2022

 

Good Energy Group PLC

("Good Energy" or "the Company")

Result of Requisitioned General Meeting

Good Energy Group PLC (AIM:  GOOD), the 100% renewable electricity supplier and innovative energy services provider, announces that shareholders voted against both resolutions at the requisitioned general meeting held at 9am today, Friday 11 February 2022.

Background

On 24 December 2021, the board of directors of Good Energy (the "Board") received a requisition notice from Ecotricity Group Limited ("Ecotricity") requiring the Board to convene a general meeting of shareholders for the purpose of considering two resolutions, namely:

· an ordinary resolution to remove William Whitehorn from office as a director of the Company ("Resolution 1"); and

· a special resolution to direct the Board not to dispose of the Company's generation assets without shareholder approval ("Resolution 2" and, together with Resolution 1, the "Requisitioned Resolutions").

Result

All voting was undertaken on a poll. The table below shows the votes received for and against each of the Requisitioned Resolutions.

	For		Against		Total		Withheld
Resolution	Votes	%	Votes	%	Votes	%  ISC	Votes
1	4,581,943	41.7%	6,411,473	58.3%	10,993,416	65.5%	35,198
2	4,658,286	42.8%	6,226,697	57.2%	10,884,983	64.9%	143,631

Notes:

1.  Any proxy appointments giving discretion to the chairman of the meeting have been included in the "Against" total.

2.  Votes "For" and "Against" any Requisitioned Resolution are expressed as a percentage (rounded to one decimal place) of votes validly cast for or against that Requisitioned Resolution, as the case may be.

3.  A vote "Withheld" is not a vote in law and is not counted in the calculation of the votes "For" or "Against" a Requisitioned Resolution.

4.  The Company's total ordinary shares in issue  (total voting rights) ("ISC") as at 11 February 2022 was 16,783,914 ordinary shares of £0.05 each. Holders of ordinary shares are entitled to one vote per ordinary share held.

Consequently, neither of the Requisitioned Resolutions received sufficient support from the Company's shareholders to be passed.

Lack of support for Ecotricity's proposals

· Shareholders are reminded that as at 11 February 2022 Ecotricity held 4,201,071 ordinary shares.

· Ecotricity voted its entire shareholding in favour of both of the Requisitioned Resolutions.

· If the results are calculated excluding the votes cast by Ecotricity, the result is as follows:

	For		Against		Total	Withheld
Resolution	Votes	%	Votes	%	Votes	Votes
1	380,872	5.6%	6,411,473	94.4%	6,792,345	35,198
2	457,215	6.8%	6,226,697	93.2%	6,683,912	143,631

The results of the general meeting will also be published on the Company's website.

Enquiries

Good Energy Group PLC Nigel Pocklington, Chief Executive Charlie Parry, Director of Corporate Strategy & IR Luke Bigwood, Director of External Affairs	Email: [e-mail]
SEC Newgate UK	Email: [e-mail]
Elisabeth Cowell	Tel: [phone]
Investec Bank plc (Nominated Adviser and Joint Broker)
Sara Hale / Jeremy Ellis	Tel: [phone]
Canaccord Genuity Limited (Joint Broker) Henry Fitzgerald - O'Connor	Tel: [phone]

 

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