Result of AGM

RNS Number : 8941C

Harbour Energy PLC

23 June 2021

 

HARBOUR ENERGY PLC

(the "Company")

Result of Annual General Meeting

The Annual General Meeting ("AGM") of the Company was held today, 23 June 2021, at 23 Lower Belgrave Street, London, SW1W 0NR at 3.00pm. Each of the resolutions contained in the Notice of Meeting were put to the AGM, voted on by way of a poll and duly approved.

The total number of votes received on each resolution put to the AGM was as follows:

No.	Resolution	Votes FOR (a)	%	Votes AGAINST	%	Votes WITHHELD (b)
1	Approve the Premier Oil plc Annual Report and Accounts	15,076,809,404	99.94	8,493,123	0.06	2,428,359
2	Approve the Premier Oil plc Annual Report on Remuneration	14,913,939,666	98.85	173,270,899	1.15	520,322
3	Approve the Directors' Remuneration Policy	14,593,098,273	97.19	421,903,633	2.81	72,728,980
4	Approve amendments to the Harbour Energy 2017 Long Term Incentive Plan	14,594,042,828	97.20	421,075,951	2.80	72,612,108
5	Elect R. Blair Thomas	15,066,505,481	99.86	20,755,909	0.14	469,497
6	Elect Linda Z. Cook	15,081,643,888	99.96	5,484,014	0.04	602,985
7	Elect Phil Kirk	15,081,678,271	99.96	5,583,122	0.04	469,497
8	Elect Alexander Krane	15,081,419,032	99.96	5,840,358	0.04	471,497
9	Elect Simon Henry	15,085,798,870	99.99	1,460,520	0.01	471,497
10	Re-elect Anne Marie Cannon	15,085,434,394	99.99	1,831,897	0.01	464,596
11	Elect G. Steven Farris	15,078,030,049	99.94	9,229,434	0.06	471,404
12	Elect Alan Ferguson	15,073,477,690	99.91	13,650,305	0.09	602,892
13	Elect Andy Hopwood	15,084,550,699	99.98	2,708,784	0.02	471,404
14	Elect Margareth Øvrum	15,082,530,288	99.97	4,727,195	0.03	473,404
15	Elect Anne Stevens	15,084,686,520	99.98	2,572,963	0.02	471,404
16	Re-appoint Ernst & Young LLP as Auditor	15,068,964,630	99.89	16,043,852	0.11	2,722,405
17	Authorise the Audit & Risk Committee to approve Auditor remuneration	15,037,378,054	99.68	47,631,193	0.32	2,721,640
18	Authorise the Company to make political donations	15,034,024,327	99.92	12,383,934	0.08	41,322,626
19	Approve the consolidation of the Company's ordinary shares on a 1 for 20 basis	15,084,058,852	99.98	3,235,815	0.02	436,220
20	Authorise Directors to allot shares	15,021,960,238	99.57	65,180,024	0.43	590,625
21	Authority to disapply pre-emption rights (up to 5% of issued share capital) (c)	15,043,150,244	99.71	44,022,677	0.29	557,966
22	Authority to disapply pre-emption rights in connection with specific acquisition/ investment (further 5% of issued share capital) (c)	15,035,858,961	99.66	51,316,410	0.34	555,516
23	To approve the adoption of new Articles of Association (c)	15,082,350,827	99.97	4,903,065	0.03	476,995
24	Authority to call General Meetings by notice of not less than 14 days (c)	15,066,192,075	99.86	21,075,074	0.14	463,738

NOTES:

(a) The "For" proxy vote includes those giving the Chair discretion.
(b) A vote "Withheld" is not a vote in law and is not counted in the calculation of the proxy votes "For" or "Against" the resolution.
(c) Special resolution.

The total number of shares in issue on 21 June 2021, the deadline for casting votes by proxy in advance of the AGM, was 18,510,652,139 shares. 81.51% of voting capital, including votes withheld, was instructed in respect of the resolutions put to the AGM.

The full text of the resolutions can be found in the Notice of Annual General Meeting, which is available on the Company's website at www.harbourenergy.com  

In accordance with the UK Listing Authority's Listing Rule 9.6.2, copies of all the resolutions passed by the Company's shareholders, other than ordinary business, will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism  

Share Consolidation

Following the approval of Resolution 19 and, as explained in the Notice of AGM, the Company's existing ordinary shares of 0.0001 pence each (the 'Existing Ordinary Shares') will now be consolidated into new ordinary shares of 0.002 pence each (the 'New Ordinary Shares') such that shareholders on the Company's register of members at 6:00pm on 24 June 2021 will hold 1 New Ordinary Share of 0.002 pence each for every 20 Existing Ordinary Shares of 0.0001 pence each.

Requests have been made to the Financial Conduct Authority for the New Ordinary Shares to be admitted to the premium segment of the Official List and to the London Stock Exchange and for the New Ordinary Shares to be admitted to trading on the London Stock Exchange's Main Market for listed securities.

It is expected that the New Ordinary Shares arising from the share consolidation will be admitted to listing and trading from 8:00am on 25 June 2021 with ISIN number GB00BMBVGQ36.

Immediately following admission, the Company will have 925,532,606 ordinary shares of 0.002 pence each in issue; therefore, the total voting rights in the Company will be 925,532,606. This figure may be used by shareholders as the denominator for calculations by which they may determine whether or not they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Existing equity warrants

The Company confirms that the aforementioned share consolidation will result in an adjustment to the exercise price under the terms of the existing equity warrants issued by the Company in 2017.  The exercise price will be adjusted from £0.4017 to £8.0340 with effect from 25 June 2021. In addition, each outstanding equity warrant will be exercisable over one-twentieth of a New Ordinary Share from the 25 June 2021.

Enquiries
Rachel Rickard, Company Secretary  Tel: [phone]
Elizabeth Brooks, Head of Investor Relations                         Tel:  [phone]

 

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