Last checked at 25 Apr 2018 16:44
Tullow Oil plc ("Tullow" or the "Company")
RESULTS OF THE ANNUAL GENERAL MEETING
HELD ON WEDNESDAY 25 APRIL 2018
Tullow announces that at its Annual General Meeting held earlier today, all resolutions set out in the Notice of Annual General Meeting put to the Annual General Meeting were passed by the requisite majority. Each of the resolutions put to the Annual General Meeting was voted on by way of a poll and the results are set out below:
VOTES FOR | % | VOTES AGAINST | % | VOTES TOTAL | % OF ISC VOTES | VOTES WITHHELD | |
1. To receive and adopt the Company's annual accounts and associated reports for the financial year ended 31 December 2017 | 932,222,533 | 99.58 | 3,962,901 | 0.42 | 936,185,434 | 67.32% | 1,360,373 |
2. To approve the Annual Statement by the Chairman of the Remuneration Committee and the Annual Report on Remuneration | 839,529,339 | 93.56 | 57,745,658 | 6.44 | 897,274,997 | 64.52% | 40,262,649 |
3. To re-elect Tutu Agyare as a Director | 883,163,227 | 95.18 | 44,731,090 | 4.82 | 927,894,317 | 66.72% | 9,650,969 |
4. To re-elect Mike Daly as a Director | 925,883,708 | 99.78 | 2,005,737 | 0.22 | 927,889,445 | 66.72% | 9,655,842 |
5. To re-elect Aidan Heavey as a Director | 856,658,249 | 93.69 | 57,696,477 | 6.31 | 914,354,726 | 65.75% | 23,189,380 |
6. To re-elect Steve Lucas as a Director | 866,239,365 | 93.36 | 61,646,580 | 6.64 | 927,885,945 | 66.72% | 9,659,862 |
7. To re-elect Angus McCoss as a Director | 924,107,334 | 99.60 | 3,727,510 | 0.40 | 927,834,844 | 66.72% | 9,710,963 |
8. To re-elect Paul McDade as a Director | 920,144,230 | 99.16 | 7,749,382 | 0.84 | 927,893,612 | 66.72% | 9,652,120 |
9. To re-elect Jeremy Wilson as a Director | 859,953,080 | 93.91 | 55,744,599 | 6.09 | 915,697,679 | 65.85% | 21,848,128 |
10. To elect Les Wood as a Director | 897,631,475 | 97.37 | 24,255,302 | 2.63 | 921,886,777 | 66.29% | 15,659,030 |
11. To re-appoint Deloitte LLP as auditors of the Company | 899,935,587 | 95.99 | 37,586,542 | 4.01 | 937,522,129 | 67.42% | 22,923 |
12. To authorise the Audit Committee to determine the remuneration of Deloitte LLP | 919,535,596 | 98.08 | 17,987,438 | 1.92 | 937,523,034 | 67.42% | 22,773 |
13. To renew the Directors' authority to allot shares | 924,868,682 | 98.65 | 12,648,356 | 1.35 | 937,517,038 | 67.42% | 28,133 |
14. To dis-apply statutory pre-emption rights* | 889,473,607 | 94.89 | 47,933,555 | 5.11 | 937,407,162 | 67.41% | 137,135 |
15. To authorise the Company to hold general meetings on no less than 14 clear days' notice* | 897,716,768 | 96.36 | 33,902,536 | 3.64 | 931,619,304 | 66.99% | 5,926,503 |
16. To authorise the Company to purchase its own shares* | 921,305,270 | 98.27 | 16,227,552 | 1.73 | 937,532,822 | 67.42% | 12,985 |
Notes:
(1) * denotes a special resolution.
(2) Proxy appointments which gave discretion to the Chairman of the Annual General Meeting have been included in the "For" total of the appropriate resolution.
(3) 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.
(4) The percentage of votes "For" and "Against" any resolution is expressed as a percentage of votes validly cast for that resolution.
(5) The number of shares in issue at 6.00 p.m. on 24 April 2018 was 1,390,656,809 ordinary shares of 10 pence each (the "Ordinary Shares") and at that time, Tullow did not hold any Ordinary Shares in treasury. 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 as described in note (5).
(6) As announced on 7 February 2018, Anne Drinkwater did not stand for re-election as a Director, and stepped down from the Board with effect from the conclusion of the Annual General Meeting.
(7) 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.tullowoil.com.