18:52 Thu 23 Apr 2020
Tullow Oil PLC - Result of AGM
Thursday
RESULTS OF THE ANNUAL GENERAL MEETING
HELD ON THURSDAY
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 WITHELD |
1. To receive and adopt the Company's annual accounts for the financial year ended |
784,417,049 |
99.46% |
4,226,148 |
0.54% |
788,643,197 |
55.98%
|
1,085,556
|
2. To approve the Annual Statement by the Chair of the Remuneration Committee
|
771,383,323 |
97.70% |
18,154,399 |
2.30% |
789,537,722 |
56.04%
|
191,032
|
3. To approve the Directors' Remuneration Policy Report
|
748,414,114 |
96.88% |
24,076,424 |
3.12% |
772,490,538 |
54.83%
|
17,233,685
|
4. To re-elect |
788,914,560 |
99.90% |
766,617 |
0.10% |
789,681,177 |
56.05%
|
47,853
|
5. To elect |
789,219,115 |
99.95% |
411,928 |
0.05% |
789,631,043 |
56.05%
|
97,987
|
6. To elect |
789,054,450 |
99.92% |
613,721 |
0.08% |
789,668,171 |
56.05%
|
60,859
|
7. To elect |
788,950,826 |
99.91% |
725,879 |
0.09% |
789,676,705 |
56.05%
|
52,325
|
8. To re-elect |
762,973,647 |
96.64% |
26,517,369 |
3.36% |
789,491,016 |
56.05%
|
238,013
|
9. To re-elect |
773,526,384 |
97.96% |
16,111,772 |
2.04% |
789,638,156 |
56.05%
|
90,874
|
10. To re-elect |
788,139,195 |
99.81% |
1,531,527 |
0.19% |
789,670,722 |
56.05%
|
58,308
|
11. To appoint |
789,345,493 |
99.96% |
278,155 |
0.04% |
789,623,648
|
56.05%
|
105,382
|
12. To authorise the Audit Committee to determine the remuneration of |
789,244,577 |
99.96% |
330,080 |
0.04% |
789,574,657 |
56.04%
|
152,531
|
13. That the Board of Directors of the Company be authorised to allot shares in the Company and to grant rights to subscribe for or to convert any securities into shares in the Company.
|
529,520,351 |
67.06% |
260,134,874 |
32.94% |
789,655,225 |
56.05%
|
73,805
|
*14. That, if Resolution 13 is passed, the Board of Directors of the Company be empowered to allot equity securities for cash and/or to sell ordinary shares held by the Company as treasury shares for cash.
|
783,558,183 |
99.24% |
5,998,356 |
0.76% |
789,556,539 |
56.04%
|
172,491
|
*15. That the Company be authorised to hold general meetings on no less than 14 clear days' notice.
|
757,510,939 |
95.94% |
32,070,398 |
4.06% |
789,581,337 |
56.04%
|
147,693
|
*16. That the Company be authorised pursuant to section 701 of the Companies Act 2006 ('the Act') to make market purchases of ordinary shares of |
789,067,202 |
99.95% |
412,535 |
0.05% |
789,479,737 |
56.04%
|
247,293
|
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) Response to votes against Resolution 13 - The Board notes that Resolution 13, to authorise the Directors to make allotments of shares, had a significant number (33%) of votes cast against it but, being an Ordinary Resolution, was passed. This vote against was a clear statement from a few of our shareholders one of whom the Executive Chair and CFO have been in regular engagement with, including ahead of today's meeting. The Board now has an understanding of the concerns raised by them. Resolution 13 was proposed in accordance with routine practice in the
(6) The number of shares in issue at
(7) As announced on
(8) In accordance with LR 9.6.2, copies of the relevant ordinary and special resolutions passed at the meeting have been submitted to the
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