Results of Annual General Meeting

RNS Number : 1813B

Pharos Energy PLC

08 June 2021

 

8 June 2021  

Pharos Energy plc

("Pharos" or the "Company" or, together with its subsidiaries, the "Group")

RESULTS OF ANNUAL GENERAL MEETING

The Company announces that at its Annual General Meeting ("AGM") held today, all resolutions put before the meeting were duly passed.

In accordance with LR 9.6.2, copies of resolutions concerning items other than ordinary business are being 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.

On the date of the meeting, Pharos' issued share capital consisted of 451,299,442 ordinary shares of £0.05 each with voting rights; 9,122,268 shares were in Treasury and therefore, the total number of voting rights was 442,177,174.

Voting was conducted on a poll, the results of which are shown in the table below and will shortly be available on the Company's website, www.pharos.energy .

Resolution	Votes in Favour (Including Discretionary)	%	Votes Against	%	Total Votes (excluding votes withheld)	Votes Withheld
1.  To receive the Annual Report and Accounts for the financial year ended 31 December 2020.	218,333,481	100.00%	5,388	0.00%	218,338,869	177,275
2.  To approve the Directors' Remuneration Report included in the Annual Report and Accounts for the financial year ended 31 December 2020.	210,985,269	96.56%	7,526,738	3.44%	218,512,007	4,136
3.  To reappoint John E Martin, who is Chair of the Nominations and ESG Committees, as a Director	217,670,704	99.61%	844,530	0.39%	218,515,234	910
4.  To reappoint Edward T Story, who is a member of the Nominations and ESG Committees, as a Director.	218,104,857	99.81%	411,286	0.19%	218,516,143	0
5.  To reappoint Janice M Brown, who is a member of the ESG Committee, as a Director.	218,197,605	99.86%	315,629	0.14%	218,513,234	2,910
6.  To reappoint Dr Michael J Watts, who is a member of the ESG Committee, as a Director.	218,237,761	99.87%	277,473	0.13%	218,515,234	910
7.  To reappoint Robert G Gray, who is a member of the Audit and Risk, Remuneration, Nominations and ESG Committees, as a Director.	218,133,506	99.83%	381,728	0.17%	218,515,234	910
8.  To reappoint Marianne Daryabegui, who is a member of the Remuneration, Audit and Risk, Nominations and ESG Committees, as a Director.	218,136,764	99.83%	378,470	0.17%	218,515,234	910
9.  To reappoint Lisa Mitchell, who is Chair of the Audit and Risk Committee and a member of the Nominations and ESG Committees, as a Director.	217,854,258	99.70%	660,976	0.30%	218,515,234	910
10. To reappoint Geoffrey Green, who is Chair of the Remuneration Committee and a member of the Audit and Risk, Nominations and ESG Committees, as a Director.	212,338,142	97.17%	6,177,091	2.83%	218,515,233	910
11. To reappoint Deloitte LLP as Auditors to hold office until the conclusion of the next Annual General Meeting at which accounts are laid before the Company.	218,477,427	99.99%	32,420	0.01%	218,509,847	6,296
12. To authorise the Audit and Risk Committee, for and on behalf of the Directors, to agree the Auditors' remuneration.	218,484,361	99.99%	27,502	0.01%	218,511,863	4,280
13. To authorise the Directors to allot securities (s.551 of the Companies Act 2006).	212,333,627	97.18%	6,165,773	2.82%	218,499,400	16,743
14. To disapply pre-emption rights (s.570 and s.573 of the Companies Act 2006)	207,393,666	94.92%	11,102,718	5.08%	218,496,384	19,759
15. To disapply pre-emption rights (s.570 and s.573 of the Companies Act 2006) up to a further 5% for acquisitions or specified capital investments.	212,584,650	97.29%	5,911,734	2.71%	218,496,384	19,759
16. To authorise the Company to repurchase its own Shares (s.701 of the Companies Act 2006).	218,455,049	99.98%	53,798	0.02%	218,508,847	7,296
17. To approve the extension of the Pharos Energy plc Long-Term Incentive Plan.	214,944,739	98.37%	3,571,405	1.63%	218,516,144	0
18. To authorise the Directors to call general meetings of the Company (other than an annual general meeting) on not less than 14 clear days' notice.	218,196,380	99.86%	312,865	0.14%	218,509,245	6,899

For further information, please contact:

Pharos Energy plc    Tel: [phone]

Tony Hunter, Company Secretary

Camarco                                                                                                                                                    Tel: [phone]

Billy Clegg | Owen Roberts | Monique Perks

Notes to editors

Pharos Energy plc is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders, which is listed on the London Stock Exchange.

Pharos has production, development and/or exploration interests in Egypt, Vietnam and Israel.

In Egypt, Pharos holds a 100% working interest in the El Fayum oil Concession in the Western Desert. The Concession produces from 10 fields and is located 80 km southwest of Cairo. It is operated by Petrosilah, a 50/50 JV between Pharos and the Egyptian General Petroleum Corporation (EGPC).  Pharos is also an operator with a 100% working interest in the North Beni Suef (NBS) Concession, which is located immediately south of the El Fayum Concession.

In Vietnam, Pharos has a 30.5% working interest in Block 16-1 which contains 97% of the Te Giac Trang (TGT) field and is operated by the Hoang Long Joint Operating Company. Pharos' unitised interest in the TGT field is 29.7%. Pharos also has a 25% working interest in the Ca Ngu Vang (CVN) field located in Block 9-2, which is operated by the Hoan Vu Joint Operating Company. Blocks 16-1 and 9-2 are located in the shallow water Cuu Long Basin, offshore southern Vietnam. Pharos also holds a 70% interest in and is designated operator of Blocks 125 & 126, located in the moderate to deep water Phu Khanh Basin, north east of the Cuu Long Basin, offshore central Vietnam.

In Israel, Pharos together with Cairn Energy plc and Israel's Ratio Oil Exploration, have eight licences offshore Israel. Each party has an equal working interest and Cairn is the operator.

 

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