TIDMPMO
RNS Number : 3006Z
Premier Oil PLC
16 May 2019
PREMIER OIL PLC
Result of Annual General Meeting
The Annual General Meeting ("AGM") of Premier Oil plc (the
"Company") was held today, 16 May 2019, at No. 11 Cavendish Square,
London, W1G 0AN at 11.00am. Each of the resolutions contained in
the Notice of Meeting were put to the AGM, voted on by way of a
poll and duly approved.
The total number of votes received on each resolution put to the
AGM was as follows:
No. Resolution Votes FOR (a) % Votes AGAINST % Votes WITHHELD (b)
1 Approve Annual Report and Accounts 406,850,468 99.99 59,796 0.01 6,879,881
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2 Approve Annual Report on Remuneration 239,324,318 58.14 172,319,657 41.86 2,146,169
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3 Re-elect Robin Allan 412,900,273 99.88 496,503 0.12 393,369
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4 Re-elect Dave Blackwood 374,469,049 90.58 38,931,556 9.42 389,540
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5 Re-elect Anne Marie Cannon 412,836,515 99.87 557,518 0.13 396,112
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6 Re-elect Tony Durrant 411,518,503 99.54 1,886,865 0.46 384,777
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7 Re-elect Roy A Franklin 400,388,946 99.54 1,831,838 0.46 11,569,360
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8 Re-elect Jane Hinkley 359,787,426 89.42 42,573,507 10.58 11,429,211
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9 Elect Barbara Jeremiah 412,481,759 99.78 907,922 0.22 400,464
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10 Re-elect Iain Macdonald 412,809,129 99.86 573,420 0.14 407,596
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11 Re-elect Richard Rose 412,904,114 99.82 754,145 0.18 131,886
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12 Re-elect Mike Wheeler 413,093,891 99.86 566,360 0.14 129,894
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13 Re-appoint Ernst & Young LLP as Auditor 411,352,453 99.44 2,299,637 0.56 138,055
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Authorise ARC to approve Auditor
14 remuneration 413,506,007 99.96 172,576 0.04 111,562
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15 Authorise Company to make political
donations 396,436,038 95.84 17,216,980 4.16 137,127
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16 Authorise Directors to allot shares 411,683,447 99.53 1,936,073 0.47 168,317
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17 Approve the rules of the Premier Oil Save
As You Earn Plan 405,505,294 98.03 8,166,572 1.97 118,279
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18 Approve the rules of the Premier Oil Share
Incentive Plan 405,058,972 97.93 8,559,773 2.07 163,662
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19 Authority to disapply pre-emption rights
(up to 5% of issued share capital) (c) 412,896,845 99.86 564,022 0.14 329,278
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20 Authority to disapply pre-emption rights
in connection with specific acquisition/
investment
(further 5% of issued share capital) (c) 409,104,924 98.94 4,363,425 1.06 321,795
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21 Authority to purchase own shares (c) 411,390,178 99.45 2,261,898 0.55 138,068
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22 Authority to call General Meetings by
notice of not less than 14 days (c) 408,776,377 98.81 4,904,019 1.19 109,749
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NOTES:
(a) The "For" proxy vote includes those giving the Chairman
discretion.
(b) A vote "Withheld" is not a vote in law and is not counted in
the calculation of the proxy votes "For" or "Against" the
resolution.
(c) Special resolution.
Remuneration Report
The Board notes that Resolution 2, to approve the Remuneration
Report, received a significant number of votes cast against it
(172,319,657 votes, 41.86% of votes validly cast). An extensive
shareholder engagement programme was undertaken after the 2018 AGM,
and major shareholders were written to again in advance of the 2019
AGM. We will now analyse the voting outcome and will continue to
ask major shareholders to engage with us in order that we can
understand better the reasons for this outcome and the concerns of
shareholders before we review the Remuneration Policy, which is due
to be re-submitted for shareholder approval at the 2020 AGM.
Appointment of Non-Executive Director
Following shareholder approval of Resolution 9, Barbara Jeremiah
has today been appointed to the Board as a Non-Executive Director.
In addition to the information disclosed by the Company on 7 March
2019 in accordance with Listing Rule 9.6.13R, the Company further
confirms that Barbara retired as a director of Allegheny
Technologies Inc on 8 May 2019.
The total number of shares in issue on 14 May 2019, the deadline
for casting votes by proxy in advance of the AGM, was 824,324,915
shares. 50.18% of voting capital, including votes withheld, was
instructed in respect of the resolutions put to the AGM.
The full text of the resolutions can be found in the Notice of
Annual General Meeting, which is available on the Company's website
at www.premier-oil.com
In accordance with the UK Listing Authority's Listing Rule
9.6.2, copies of all the resolutions passed by the Company's
shareholders, other than ordinary business will be submitted to the
National Storage Mechanism and will shortly be available for
inspection at www.morningstar.co.uk/uk/NSM
Enquiries
Premier Oil plc Tel: 020 7730 1111
Company Secretariat:
Andy Gibb
Investor Relations:
Elizabeth Brooks
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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