RE: Name change21 Jun 2024 12:54
RNS Number : 4355T
Baron Oil PLC
21 June 2024
21 June 2024
Baron Oil Plc
("Baron" or the "Company" or the "Group")
Result of Annual General Meeting and Change of Name
Baron Oil (AIM: BOIL) announces that at the Company's Annual General Meeting ("AGM"), held earlier today, all resolutions were duly passed with the following table summarising proxy votes received and votes cast at the meeting:
RESOLUTIONS
NO OF VOTES FOR
% OF VOTES CAST (EXCLUDING VOTES WITHELD)
NO OF VOTES AGAINST
% OF VOTES CAST (EXCLUDING VOTES WITHELD)
TOTAL VOTES CAST (EXCLUDING VOTES WITHHELD)
NO OF VOTES WITHHELD
ORDINARY
1. To receive the Accounts for the financial year ended 31 December 2023.
4,030,445,851
99.95%
2,137,205
0.05%
4,032,583,056
8,131,112
2. To re-appoint Gravita Audit Limited as auditors to the Company and to authorise the Directors to determine their remuneration.
4,027,982,996
99.89%
4,324,198
0.11%
4,032,307,194
8,406,974
3. To re-appoint Mr Gerry Aherne as a Director of the Company
4,006,920,159
99.77%
9,335,567
0.23%
4,016,255,726
24,458,442
4. To re-appoint Mr Keith Bush as a Director of the Company
2,307,564,185
58.54%
1,633,961,803
41.46%
3,941,525,988
99,188,180
5. To re-appoint Dr Andrew Butler as a Director of the Company
4,025,647,103
99.88%
4,949,953
0.12%
4,030,597,056
10,117,112
6. To re-appoint Dr John Chessher as a Director of the Company
4,003,056,636
99.71%
11,474,952
0.29%
4,014,531,588
26,182,580
7. To authorise the Directors to issue and allot new shares.
3,854,048,245
95.83%
167,610,005
4.17%
4,021,658,250
19,055,918
SPECIAL
8. To disapply pre-emption rights for Resolution 7.
3,893,351,683
96.77%
129,890,705
3.23%
4,023,242,388
17,471,780
9. To approve the change of name of the Company to Sunda Energy Plc.
3,421,719,467
99.49%
17,441,571
0.51%
3,439,161,038
8,951,687
Votes which have been cast at the discretion of the Chairman have been counted as votes for the resolutions. Votes withheld are not votes in law and do not count in the number of votes counted for or against a resolution.
Although resolution 4 was passed, the Board notes that this resolution received more than 41% of votes against the Board's recommendation, equating to approximately 6.4% of the Company's total voting rights. The Board is committed to continuing an open dialogue with the Company's shareholders. Where it is able to, the Board will continue to seek to engage with those shareholders who are understood to have voted against the resolution to understand their views and/or any specific concerns. The Board will reflect on any such feedback ahead of preparing for the Company's next general meeting.
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