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Premier Oil PLC (PMO)

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Wednesday 16 May, 2018

Premier Oil PLC

Result of AGM

RNS Number : 3436O
Premier Oil PLC
16 May 2018
 

PREMIER OIL PLC

Result of Annual General Meeting

The Annual General Meeting ("AGM") of Premier Oil plc (the "Company") was held today, 16 May 2018, at No. 11 Cavendish Square, London, W1G 0AN at 11.00am. 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 Annual Report and Accounts

381,934,915

99.99

53,966

0.01

2,552,108

2

Approve Annual Report on Remuneration

258,516,183

68.34

119,764,664

31.66

6,260,141

3

Re-elect Robin Allan

381,905,004

99.38

2,379,978

0.62

256,007

4

Elect Dave Blackwood

382,093,426

99.43

2,197,798

0.57

249,765

5

Re-elect Anne Marie Cannon

381,465,598

99.26

2,851,780

0.74

223,611

6

Re-elect Tony Durrant

380,629,234

99.05

3,655,008

0.95

256,747

7

Elect Roy A Franklin

371,007,566

98.43

5,922,552

1.57

7,610,870

8

Re-elect Jane Hinkley

359,510,197

93.55

24,792,139

6.45

238,651

9

Re-elect Iain Macdonald

381,405,742

99.25

2,896,224

0.75

239,023

10

Re-elect Richard Rose

381,812,402

99.35

2,497,943

0.65

230,644

11

Elect Mike Wheeler

381,221,081

99.20

3,066,813

0.80

253,095

12

Re-appoint Ernst & Young LLP as Auditor

380,867,429

99.58

1,604,163

0.42

2,069,395

13

Authorise ARC to approve Auditor remuneration

383,687,870

99.86

552,487

0.14

300,632

14

Authorise Company to make political donations

371,708,728

96.73

12,558,019

3.27

274,242

15

Authorise Directors to allot shares

380,597,070

99.06

3,598,908

0.94

345,011

16

Authority to disapply pre-emption rights (up to 5% of issued share capital) (c)

383,774,800

99.88

453,302

0.12

312,887

17

Authority to disapply pre-emption rights in connection with specific acquisition/ investment (further 5% of issued share capital) (c)

380,049,827

98.92

4,164,414

1.08

326,747

18

Authority to purchase own shares (c)

381,258,583

99.25

2,891,043

0.75

391,362

19

Authority to call General Meetings by notice of not less than 14 days (c)

372,654,606

96.97

11,651,781

3.03

234,602

NOTES:

(a) The "For" proxy vote includes those giving the Chairman 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 Board notes that Resolution 2, to approve the remuneration report, has received a significant number of votes cast against it (119,764,664 votes, 31.66% of votes validly cast). An extensive shareholder engagement programme was undertaken prior to the AGM. We thank those shareholders who have spoken with us to explain their reasons for both supporting and voting against the resolution. The Remuneration Committee remains committed to continuing dialogue with shareholders in the ongoing implementation of our Remuneration Policy. The Committee will now analyse the voting outcome and will continue to engage with major shareholders to more fully understand their perspectives, as appropriate.

Votes "For" and "Against" are expressed as a percentage of all proxy votes received in advance of the AGM, excluding any "Withheld" votes.

The total number of shares in issue on 14 May 2018, the deadline for casting votes by proxy in advance of the AGM, was 768,143,965 shares. 50.06% 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.premier-oil.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 have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM

Enquiries


Premier Oil plc

Tel: 020 7730 1111

Company Secretariat:
Rachel Rickard


Investor Relations:
Elizabeth Brooks


 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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