TIDMDELT
RNS Number : 5456A
Deltic Energy PLC
24 May 2023
Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural
Resources
24 May 2023
Deltic Energy Plc ("Deltic" or "the Company")
Result of Annual General Meeting and
Update on Share Consolidation
Deltic Energy Plc, the AIM-quoted natural resources investing
company with a high impact exploration and appraisal portfolio
focused on the Southern and Central North Sea, announces the
results of the voting on the resolutions put to its Annual General
Meeting held earlier today. All resolutions put to Shareholders at
the meeting were successfully passed.
Details of the proxy votes received on each resolution are set
out below:
R esolution Votes % Votes % Total votes Votes withheld** % of issued
For* of Against of cast** share capital
votes votes voted**
cast** cast**
1. To receive
and adopt the
2022 annual
accounts
and reports of
the Directors
and auditors
thereon. 832,477,167 96.9% 26,668,765 3.1% 859,145,932 1,037,716 46.1%
------------ -------- ------------ -------- ------------ ---------------- ---------------
2. To re--elect
Peter Cowley
as a Director
of the Company. 715,608,734 83.5% 141,449,824 16.5% 857,058,558 3,125,090 46.0%
------------ -------- ------------ -------- ------------ ---------------- ---------------
3. To re--elect
Mark Lappin as
a Director of
the Company. 813,381,326 94.9% 43,677,232 5.1% 857,058,558 3,125,090 46.0%
------------ -------- ------------ -------- ------------ ---------------- ---------------
4. To re--elect
Graham
Swindells
as a Director
of the Company. 820,156,117 95.6% 37,840,978 4.4% 857,997,095 2,186,553 46.1%
------------ -------- ------------ -------- ------------ ---------------- ---------------
5. To appoint
PKF Littlejohn
LLP as auditors
of the Company
and to authorise
the Directors
to fix their
remuneration. 854,129,567 99.6% 3,622,377 0.4% 857,751,944 2,431,704 46.1%
------------ -------- ------------ -------- ------------ ---------------- ---------------
6. To approve
the share
consolidation. 819,513,329 98.9% 9,531,852 1.1% 829,045,181 31,138,467 44.5%
------------ -------- ------------ -------- ------------ ---------------- ---------------
7. To authorise
the Directors
to allot
shares. 817,785,606 95.3% 40,336,691 4.7% 858,122,297 2,061,351 46.1%
------------ -------- ------------ -------- ------------ ---------------- ---------------
8. To disapply
statutory
pre--emption
rights. 788,099,672 91.7% 71,019,795 8.3% 859,119,467 1,064,181 46.1%
------------ -------- ------------ -------- ------------ ---------------- ---------------
*Votes "For" include votes giving the Chairman discretion.
** A 'Vote Withheld' is not a vote in law and has not been
counted in the calculation of the proportion of the votes 'For' and
'Against' a resolution.
Share Consolidation
The Share Consolidation, as detailed in the Notice of Annual
General Meeting Circular dated 27 April 2023 ("AGM Circular"), was
approved by Shareholders pursuant to resolution 6 which was passed
at the Annual General Meeting.
The Share Consolidation consists of a consolidation of the
existing ordinary shares of 0.5 pence each in the capital of the
Company ("Existing Ordinary Shares"), such that every 20 Existing
Ordinary Shares will be consolidated into one new ordinary share of
10p each ("New Ordinary Shares"). Following the Share
Consolidation, the Company will have a single class of ordinary
shares of 10p each in issue, being the New Ordinary Shares.
Admission
Application has been made to the London Stock Exchange for the
admission to trading on AIM of the New Ordinary Shares, which is
expected to become effective and dealings commence at 8.00 a.m. on
25 May 2023 ("Admission").
Total Voting Rights and other matters
The New Ordinary Shares have a new ISIN and SEDOL code, and the
number of total voting rights in the Company's issued ordinary
share capital will decrease as a result of the Share Consolidation.
The ISIN and SEDOL code of the New Ordinary Shares will be
GB00BNTY2N01 and BNTY2N0, respectively.
Accordingly, upon Admission, the Company's issued ordinary share
capital will consist of 93,096,600 New Ordinary Shares each with
one voting right. The Company does not hold any ordinary shares in
treasury. From Admission, this figure may be used by Shareholders
in the Company as the denominator for the calculation by which they
may determine if they are required to notify their interest in, or
a change to their interest in, the share capital of the Company
under the FCA's Disclosure Guidance and Transparency Rules.
Unless otherwise defined, capitalised terms used in this
announcement have the same meanings as ascribed to them in the AGM
Circular and the Company's announcement of 27 April 2023.
**ENDS**
Deltic Energy Plc Tel: +44 (0) 20 7887
2630
Graham Swindells / Andrew Nunn / Sarah McLeod
Allenby Capital Limited (Nominated Adviser) Tel: +44 (0) 20 3328
5656
David Hart / Alex Brearley (Corporate Finance)
Stifel Nicolaus Europe Limited (Joint Broker) Tel: +44 (0) 20 7710
7600
Callum Stewart / Simon Mensley / Ashton
Clanfield
Canaccord Genuity Limited (Joint Broker) Tel: +44 (0) 20 7523
Adam James / Gordon Hamilton 8000
Vigo Consulting (IR Adviser) Tel: +44 (0) 20 7390
0230
Patrick d'Ancona / Finlay Thomson / Kendall
Hill
About Deltic Energy Plc
Deltic has created a strategically located portfolio of
high-quality gas exploration licences in the Southern North Sea
over a number of licensing rounds. These licences are located in
areas that have been underexplored despite significant discoveries
such as Tolmount, Breagh, Pegasus and Cygnus, most of which have
gone on to be developed and could provide ready access to export
infrastructure for any future developments on Deltic's licence
acreage.
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END
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