Result of AGM

RNS Number : 8959D

Genel Energy PLC

23 May 2012

 



Results of Annual General Meeting 22 May 2012

Genel Energy plc 
(the "Company")

At the Annual General Meeting of Genel Energy plc held on Tuesday, 22 May 2012, all resolutions put to the meeting were passed by the shareholders on a poll. The number of shares in the Company in issue and eligible to vote at the meeting was 213,479,537 voting ordinary shares of £0.10p each.  Each share attracted one vote.

At that same meeting, in accordance with market practice, Genel Energy's shareholders approved a special resolution allowing the Company to purchase up to 10% of its voting ordinary shares in the market.  

In order to make this possible, the Company intends to seek a waiver from the UK Takeover Panel of the obligation on certain of its material shareholders to make a mandatory cash offer for the Company under Rule 37.1 of the UK Takeover Code.  This waiver will need to be approved by the independent shareholders of the Company in a general meeting.  

The Company is required to do this because Elysion Energy Holding BV, Focus Investments Limited and Petroleum Resources Management NV (the material shareholders referred to above) are currently interested in 29.99% of the voting ordinary shares in the Company.

The Company expects to post a circular and notice of meeting to its shareholders seeking such approval in due course

The voting results from the Annual General Meeting are as follows:

Resolutions	For	%	Against	%	Withheld	Total lodged
1. To receive the accounts and the reports of the Directors and the Auditors for the year ended 31 December 2011.	141,470,599	100.0000	0	0	0	141,470,599
2. To approve the Director's Remuneration Report for the year ended 31 December 2011.	141,335,851	99.9000	134,748	0.1000	0	141,470,599
3. To re-elect Mr Rodney Chase as a Director.	141,469,299	99.9993	1,000	0.0007	300	141,470,299
4. To re-elect Dr Tony Hayward as a Director.	141,470,299	99.9998	300	0.0002	0	141,470,599
5. To re-elect Mr Julian Metherell as a Director.	141,469,299	99.9991	1,300	0.0009	0	141,470,599
6. To re-elect Sir Graham Hearne as a Director.	140,831,389	99.9998	300	0.0002	638,910	140,831,689
7. To re-elect Mr Jim Leng as a Director.	140,830,389	99.9993	1,000	0.0007	639,210	140,831,389
8. To re-elect Mr Mehmet Öğütçü as a Director.	141,469,149	99.9990	1,450	0.0010	0	141,470,599
9. To re-elect Mr Mark Parris as a Director.	141,470,149	99.9997	450	0.0003	0	141,470,599
10. To re-elect Mr George Rose as a Director.	140,830,389	99.9991	1,300	0.0009	638,910	140,831,689
11. To re-elect Mr Nathaniel Rothschild as a Director.	141,465,299	99.9963	5,300	0.0037	0	141,470,599
12. To re-elect Mrs Gulsun Nazli Karamehmet Williams as a Director.	141,470,149	99.9997	450	0.0003	0	141,470,599
13. To re-elect Mr Murat Yazici as a Director.	141,469,299	99.9991	1,300	0.0009	0	141,470,599
14. To re-elect Mr Chakib Sbiti as a Director.	141,469,299	99.9991	1,300	0.0009	0	141,470,599
15. To re-appoint PricewaterhouseCoopers LLP as the Company's Auditors.	141,389,695	99.9400	80,694	0.0600	210	141,470,389
16. To authorise the Directors to agree the Auditor's remuneration.	141,399,395	99.9500	70,994	0.0500	210	141,470,389
17. To approve the Performance Share Plan and authorise the Directors to adopt further plans based on the Performance Share Plan.	137,693,894	99.9900	20,230	0.0100	3,756,475	137,714,124
18. To give the Company limited authority to make political donations and expenditure.	141,462,375	99.9900	7,989	0.0100	235	141,470,364
19. To generally and unconditionally authorise the Directors to allot shares up to a specified amount (including for such purposes the transfer by the Company of any treasury shares).	103,761,103	73.3400	37,709,186	26.6600	310	141,470,289
20. To authorise the Directors to allot shares and sell treasury shares for cash without making a pre-emptive offer to shareholders.	103,776,122	73.3600	37,694,167	26.6400	310	141,470,289
21. To authorise the Company to purchase its voting ordinary shares.	105,709,740	74.7200	35,760,649	25.2800	210	141,470,389
22. To permit the Company to hold general meetings, other than an annual general meeting, on not less than 14 clear days' notice.	139,843,080	98.9500	1,627,309	1.1500	210	141,470,389
23. To amend the articles of association of the Company to allow all annual general meetings and other general meetings to be held at such place as may be determined by the Directors.	141,468,800	99.9987	1,799	0.0013	0	141,470,599

The full text of the resolutions may be found in the Notice of the Annual General Meeting, copies of which are available on both the Company's website www.genelenergy.com and on the National Storage Mechanism www.hemscott.com/nsm.do.

A copy of the special resolutions passed at the Annual General Meeting, have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do

For further information please contact:

Enquiries:

Genel Energy

[phone]

Julian Metherell, Chief Financial Officer

Natalie Fortescue, Investor Relations

 

END

 

 

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