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29 May 2018 07:00
2018 AGM Results
(London & Dubai, 29 May 2018) ADES International Holding Ltd. (the "Company") (LON: ADES), the London-listed company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa through its subsidiaries, is pleased to announce that the resolutions (the "Resolutions") proposed at the Annual General Meeting of the Company held on 27 May 2018 were duly passed.
Details of the Resolutions were set out in the circular to shareholders dated 25 April 2018, which is available on the Company's investor relations website (investors.adihgroup.com).
Details of the proxy votes received in respect of the Resolutions are set out below:
Resolution | For | Against | Withheld | |||
Number | % | Number | % | Number | % | |
1. Approval of the directors' report and audited accounts for the financial year ended December 2017 | 37,331,234 | 100% | 0 | 0% | 0 | 0% |
2. Re-election of Mr Ayman Abbas as an executive director of the Company | 37,331,234 | 100% | 0 | 0% | 0 | 0% |
3. Re-election of Dr Mohamed Farouk Abdelkhalek as an executive director of the Company | 37,147,571 | 99.51% | 183,663 | 0.49% | 0 | 0% |
4. Re-election of Yasser Zaki Hashem as a nonexecutive director of the Company | 37,331,234 | 100% | 0 | 0% | 0 | 0% |
5. Re-election of Nabil Kassem as a nonexecutive director of the Company | 37,147,571 | 99.51% | 183,663 | 0.49% | 0 | 0% |
6. Re-election of Ulf Clemens Ingemar Henriksson as a non-executive director of the Company | 37,331,234 | 100% | 0 | 0% | 0 | 0% |
7. Re-election of Mohamed Walid Cherif as a non-executive director of the Company | 37,331,234 | 100% | 0 | 0% | 0 | 0% |
8. Re-appointment of Ernst & Young (Dubai Br.) as independent auditors of the Company | 37,294,003 | 99.90% | 37,231 | 0.10% | 0 | 0% |
9. Authority to determine the remuneration of auditors | 37,076,920 | 99.32% | 254,314 | 0.68% | 0 | 0% |
10. General authority to issue and allot shares | 37,301,253 | 99.92% | 29,981 | 0.08% | 0 | 0% |
11. General disapplication of pre-emption rights | 37,301,253 | 99.92% | 29,981 | 0.08% | 0 | 0% |
Notes:
(a) All resolutions were passed.
(b) The votes "For" and "Against" are expressed in percentage of the votes received.
(c) The total number of shares in issue at close of business (UK time) on 21 May 2018 (being the reference time for assessing entitlement to vote on the Resolutions) was 42,203,030 ordinary shares of US$1 each.
-Ends-
Enquiries
ADES International Holding Hussein Badawy Investor Relations OfficerT: (+9714) 3550-255
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ir@adesgroup.com |
| |
Instinctif | |||
David Simonson | david.simonson@instinctif.com | +44 (0)20 7457 2020 | |
Laura Syrett | laura.syrett@instinctif.com | +44 (0)20 7457 2020 | |
George Yeomans | george.yeomans@instinctif.com | +44 (0)20 7457 2020 | |
NOTES TO EDITORS
About ADES International Holding
ADES International Holding extends oil and gas drilling and production services through its subsidiaries and is a leading service provider in the Middle East and Africa, offering onshore contract drilling as well as workover and production services. Its over 1,200 employees serve clients including major national oil companies ("NOCs") such as Saudi Aramco and Sonatrach as well as joint ventures of NOCs with global majors including BP and Eni. While maintaining a superior health, safety and environmental record, the Company currently has a fleet of jack-up offshore drilling rigs, onshore drilling rigs, a jack-up barge, and a mobile offshore production unit ("MOPU"), which includes a floating storage and offloading unit. investors.adihgroup.com
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