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Regulatory News


Result of AGM

Thu, 16th May 2019 18:00


RNS Number : 3006Z
Premier Oil PLC
16 May 2019

PREMIER OIL PLC

Result of Annual General Meeting

The Annual General Meeting ("AGM") of Premier Oil plc (the "Company") was held today, 16 May 2019, 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

406,850,468

99.99

59,796

0.01

6,879,881

2

Approve Annual Report on Remuneration

239,324,318

58.14

172,319,657

41.86

2,146,169

3

Re-elect Robin Allan

412,900,273

99.88

496,503

0.12

393,369

4

Re-elect Dave Blackwood

374,469,049

90.58

38,931,556

9.42

389,540

5

Re-elect Anne Marie Cannon

412,836,515

99.87

557,518

0.13

396,112

6

Re-elect Tony Durrant

411,518,503

99.54

1,886,865

0.46

384,777

7

Re-elect Roy A Franklin

400,388,946

99.54

1,831,838

0.46

11,569,360

8

Re-elect Jane Hinkley

359,787,426

89.42

42,573,507

10.58

11,429,211

9

Elect Barbara Jeremiah

412,481,759

99.78

907,922

0.22

400,464

10

Re-elect Iain Macdonald

412,809,129

99.86

573,420

0.14

407,596

11

Re-elect Richard Rose

412,904,114

99.82

754,145

0.18

131,886

12

Re-elect Mike Wheeler

413,093,891

99.86

566,360

0.14

129,894

13

Re-appoint Ernst & Young LLP as Auditor

411,352,453

99.44

2,299,637

0.56

138,055

14

Authorise ARC to approve Auditor remuneration

413,506,007

99.96

172,576

0.04

111,562

15

Authorise Company to make political donations

396,436,038

95.84

17,216,980

4.16

137,127

16

Authorise Directors to allot shares

411,683,447

99.53

1,936,073

0.47

168,317

17

Approve the rules of the Premier Oil Save As You Earn Plan

405,505,294

98.03

8,166,572

1.97

118,279

18

Approve the rules of the Premier Oil Share Incentive Plan

405,058,972

97.93

8,559,773

2.07

163,662

19

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

412,896,845

99.86

564,022

0.14

329,278

20

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

409,104,924

98.94

4,363,425

1.06

321,795

21

Authority to purchase own shares (c)

411,390,178

99.45

2,261,898

0.55

138,068

22

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

408,776,377

98.81

4,904,019

1.19

109,749

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.

Remuneration Report

The Board notes that Resolution 2, to approve the Remuneration Report, received a significant number of votes cast against it (172,319,657 votes, 41.86% of votes validly cast). An extensive shareholder engagement programme was undertaken after the 2018 AGM, and major shareholders were written to again in advance of the 2019 AGM. We will now analyse the voting outcome and will continue to ask major shareholders to engage with us in order that we can understand better the reasons for this outcome and the concerns of shareholders before we review the Remuneration Policy, which is due to be re-submitted for shareholder approval at the 2020 AGM.

Appointment of Non-Executive Director

Following shareholder approval of Resolution 9, Barbara Jeremiah has today been appointed to the Board as a Non-Executive Director. In addition to the information disclosed by the Company on 7 March 2019 in accordance with Listing Rule 9.6.13R, the Company further confirms that Barbara retired as a director of Allegheny Technologies Inc on 8 May 2019.

The total number of shares in issue on 14 May 2019, the deadline for casting votes by proxy in advance of the AGM, was 824,324,915 shares. 50.18% 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 will be 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:
Andy Gibb


Investor Relations:
Elizabeth Brooks



This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
RAGGGUGCAUPBGPQ


Related Shares:
Premier Oil (PMO)



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