30 Jun 2021 18:14
30 June 2021
Hurricane Energy plc
("Hurricane", or the "Company")
Results of AGM
Hurricane Energy plc, the UK based oil and gas company, announces the results of its Annual General Meeting ("AGM") held earlier today.
The AGM was held at the Company's Registered Office: The Wharf, Abbey Mill Business Park, Lower Eashing, Godalming, Surrey GU7 2QN at 3.00 p.m. Out of the Resolutions contained in the Notice of Meeting (as circulated to shareholders on 26 May 2021 and available on the Company's website at https://www.hurricaneenergy.com/investors/general-meetings), resolutions 5 and 6 were withdrawn prior to the AGM, resolutions 1-4 were put to the AGM and voted on by way of a poll.
The total number of votes received on each resolution put to the AGM was as follows:
# | Resolution | VotesFOR | % | Votes AGAINST | % | Votes TOTAL | % ISC Voted | Votes WITHELD |
1 | Receive Annual Report and Group Financial Statements | 65,768,385 | 25.59 | 191,209,478 | 74.41 | 256,977,863 | 12.90% | 301,766,520 |
2 | Re-appoint Deloitte LLP as the Company's auditors | 55,943,207 | 21.77 | 201,052,684 | 78.23 | 256,995,891 | 12.90% | 301,768,420 |
3 | Elect Richard Chaffe | 336,008,887 | 61.18 | 213,210,675 | 38.82 | 549,219,562 | 27.57% | 9,544,749 |
4 | Elect Antony Maris | 337,166,285 | 61.49 | 211,174,777 | 38.51 | 548,341,062 | 27.53% | 10,423,249 |
Resolution 1, a resolution to receive the Annual Report and Group Financial Statements, is an advisory resolution. As such the Company will proceed with the filing of the Annual Report and Group Financial Statements in line with its statutory duties.
Resolution 2, a resolution to re-appoint Deloitte LLP as the Company's auditors, the Company notes that this resolution was not passed. The Company is considering its options following this outcome and will update the market in due course.
Resolution 3, a resolution to elect Richard Chaffe as a director of the Company, was passed with a majority of 61.18%. Resolution 4, a resolution to elect Antony Maris as a director of the Company, was passed with a majority of 61.49%.
The Board notes the results of these resolutions and the significant vote against them. We have engaged with shareholders to understand their reasons for voting in this way and understand their concerns, in particular in connection with events connected with the Company's proposed Restructuring Plan. The Board will consider further changes to the Board in order to comply with appropriate corporate governance standards in the near term.
Notes:
Computershare Investor Services PLC acted as scrutineer of the poll on all resolutions.
· A vote "Withheld" is not a vote in law and is not counted in the calculation of the votes cast "For" or "Against" the resolution, nor in the calculation of the "% ISC Voted" for any resolution.
· Votes "For" and "Against" are expressed as a percentage of votes validly cast for that resolution at the AGM, excluding any "Withheld" votes.
· "% ISC Voted" denotes the votes validly cast for each resolution as a percentage of the issued share capital of 1,991,871,556 shares as at 28 June 2021, being the last date for submission of votes by proxy in advance of the AGM.
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Contacts:
Hurricane Energy plc Antony Maris, Chief Executive Officer Philip Corbett, Head of Investor Relations
| +44 (0)1483 862820 |
Stifel Nicolaus Europe Limited Nominated Adviser & Joint Corporate Broker Callum Stewart
| +44 (0)20 7710 7600 |
Investec Bank plc Joint Corporate Broker Chris Sim / Rahul Sharma | +44 (0)20 7597 5970 |
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Vigo Consulting Public Relations Patrick d'Ancona / Ben Simons hurricane@vigoconsulting.com
| +44 (0)20 7390 0230 |
About Hurricane
Hurricane has a 100% interest in and operates the Lancaster field, the UK's first field to produce from a fractured basement reservoir.
Hurricane also has a 50% interest in the Greater Warwick Area licence, which contains the Lincoln and Warwick assets.
Visit Hurricane's website at www.hurricaneenergy.com
Inside Information
This announcement does not contain inside information.