Result of EGM

RNS Number : 1040L

Lekoil Limited

08 January 2021

 

8 January 2021

Lekoil Limited

("LEKOIL" or the "Company")

Result of EGM

LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces the results of the Company's requisitioned Extraordinary General Meeting ("Requisitioned EGM") held earlier today.

Pursuant to the announcement by the Company earlier today, Requisitioned Resolution 1 relating to the removal of the Company's Chairman has been withdrawn.

Following a vote by shareholders with a combined share capital of 367,265,672, representing 68.45% of the Issued Share Capital ("ISC") of the Company, results on each of the remaining requisitioned resolutions put to the Requisitioned EGM are as follows:

Resolution	Voting Result
	For		Against
Appointment of Mr. Michael Ajukwu	322,641,469	87.85%	44,624,203	12.15%
Appointment of Mr. Thomas Richardson	273,693,704	74.52%	93,571,968	25.48%
Appointment of Mr. George Maxwell	362,520,313	98.71%	4,745,359	1.29%

All resolutions put to the meeting were duly passed with the duly appointed directors being invited to join the Board with immediate effect.

The Company notes that the Company's nominated adviser is undertaking its normal due diligence exercise on the new Board appointees which will be completed as soon as practicable.

Information required under Schedule Two, paragraph (g) of the AIM Rules for Companies will be notified in due course.

Appointment of Chairman

At the General Meeting the Company's Chairman, Mr. Mark Simmonds, noted his intention to stand down from that role with immediate effect with a new Chairman to be appointed by the enlarged board of directors. Mr. Simmonds also noted his intention to stand down from the board at the Company's next Annual General Meeting.

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

For further information, please visit www.lekoil.com or contact:

LEKOIL Limited Hamilton Esi, Corporate Communications Ore Bajomo, Investor Relations	[phone]
SP Angel Corporate Finance LLP (Nominated Adviser and Sole Broker) John Mackay / Jeff Keating / Stuart Gledhill / Richard Hail	[phone]
Instinctif (Financial PR) Mark Garraway / Galyna Kulachek / Sarah Hourahane	[phone] [e-mail]

 

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