Last checked at 17 May 2019 14:59
17 May 2019
Seplat Petroleum Development Company Plc ("Seplat" or the "Company")
Results of the Annual General Meeting
Seplat Petroleum Development Company Plc announces that at its Annual General Meeting held yesterday, Thursday 16 May 2019 at theCivic Centre, Victoria Island, Lagos, Nigeria, all resolutions set out in the Notice of Annual General Meeting put to the shareholders were duly passed by the requisite majority.
The results of each resolution voted by way of poll including proxy votes lodged with the Company's Registrars are set out below:
RESOLUTIONS | FOR | AGAINST | TOTAL VOTES | % of ISC Votes | VOTES WITHHELD | RESULT | ||
Holding | % Holding | Holding | % Holding | |||||
Resolution 1: To receive the Annual Accounts, Directors' Report, Auditors' Report for the year ended 31 December 2018 and the Audit Committee Report. | 304,038,429 | 100.00% | - | 0.00% | 304,038,429 | 51.67% | 284,406,132 | CARRIED |
Resolution 2: To declare a final dividend recommended by the Board of Directors of the Company in respect of the financial year ended 31 December 2018. | 306,853,146 | 100.00% | 20 | 0.00% | 306,853,166 | 52.15% | 281,591,395 | CARRIED |
Resolution 3: To Re-Appoint Ernst & Young Nigeria as Auditors of the Company from the conclusion of this Meeting until the conclusion of the next General Meeting of the Company at which the Company's Annual Accounts are laid. | 181,494,795 | 100.00% | 1 | 0.00% | 181,494,796 | 30.84% | 406,949,765 | CARRIED |
Resolution 4: To authorize the Board of Directors of the Company to determine the Auditors' Remuneration. | 306,450,320 | 100.00% | 20 | 0.00% | 306,450,340 | 52.08% | 281,994,221 | CARRIED |
Resolution 5a: To Re-appoint Mrs. Ifueko Marina Omoigui Okauru as a Director of the Company. | 157,406,149 | 100.00% | 23 | 0.00% | 157,406,172 | 26.75% | 431,038,389 | CARRIED |
Resolution 5b: To Re-appoint Mr. Damian Dinshiya Dodo (SAN) as a Director of the Company. | 233,832,699 | 99.95% | 106,770 | 0.05% | 233,939,469 | 39.76% | 354,505,092 | CARRIED |
Resolution 6: To Elect Members of the Audit Committee. | Voting by show of hand. 3 Members representing shareholders elected | CARRIED | ||||||
Resolution 7: To Approve the Remuneration Section of the Directors' Remuneration Report set out in the Annual Report and Accounts for the year ended 31 December 2018. | 306,646,218 | 99.86% | 430,620 | 0.14% | 307,076,838 | 52.18% | 281,367,723 | CARRIED |
Notes:
1. A "Vote Withheld" is not a vote in law and is not counted in the calculation of the proportion of votes "For" or "Against" any resolution nor in the calculation of the proportion of "Percentage of ISC voted" for any resolution.
2. The percentage of votes "For" and "Against" any resolution is expressed as a percentage of votes validly cast for that resolution.
3. In accordance with Section 225 (3) of the Nigerian Companies and Allied Matters Act (CAMA), the election of the statutory Audit Committee shareholder representative members is conducted by a show of hands at the AGM rather than by poll and proxy.
4. The Issued Share Capital ("ISC") at the time of the Annual General Meeting was 588,444,561 shares denominated in Naira of 50 kobo per share. The proportion of "Percentage of ISC voted" for any resolution is the total of votes "For" and "Against" in respect of that resolution expressed as a percentage of the ISC.
5. In accordance with LR 9.6.2, copies of the relevant ordinary and special resolutions passed at the meeting have been submitted to the FCA's National Storage Mechanism and will shortly be available to view at http://www.morningstar.co.uk/uk/NSM. The full text of the resolutions passed at the Annual General Meeting can be found in the Notice of Annual General Meeting, which is available for inspection at the National Storage Mechanism and also on the Company's website at http://www.seplatpetroleum.com.
- Ends -
Enquiries
Seplat Petroleum Development Company Plc |
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Roger Brown, CFO | +44 (0) 203 725 6500 |
Ayeesha Aliyu, Investor Relations | +234 12 770 400 |
Chioma Nwachuku, GM External Affairs & Communications |
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FTI Consulting |
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Ben Brewerton / Sara Powell | +44 (0) 203 727 1000 |
| seplat@fticonsulting.com |
Notes to editors
Seplat Petroleum Development Company Plc is a leading indigenous Nigerian oil and gas exploration and production company with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange ("LSE") (LSE:SEPL) and Nigerian Stock Exchange ("NSE") (NSE:SEPLAT). For further information please refer to the Company website, http://seplatpetroleum.com/