Genel Energy PLC Result of AGM (3164H)

TIDMGENL

RNS Number : 3164H

Genel Energy PLC

06 June 2017

6 June 2017

Genel Energy plc

Results of Annual General Meeting

The Annual General Meeting of Genel Energy plc was held today, Tuesday 6 June 2017, and the results of the poll vote by shareholders are set out below. The number of ordinary shares of GBP0.10p each in the Company in issue at the date of the meeting was 278,784,305 and each share attracted one vote.

Resolutions 6 and 9 to re-elect Simon Lockett and Nathaniel Rothschild respectively were withdrawn prior to the meeting.

The results were as follows:

 
 Resolutions                       For         %       Against       %     Withheld      Total 
                                                                                         lodged 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 1. To receive the 
  Accounts and the 
  Reports of the 
  Directors and the 
  Auditors for the 
  year ended 31 December 
  2016.                        188,411,997   89.49   22,120,203    10.51    2,500     210,532,200 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 2. To approve the 
  Remuneration Policy 
  for Directors.               144,818,609   69.31   64,135,726    30.69    4,000     208,954,335 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 3. To approve the 
  Annual Report on 
  Remuneration for 
  the year ended 
  31 December 2016.            144,825,765   69.31   64,130,069    30.69    2,501     208,955,834 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 4. To re-elect 
  Mr Murat Özgül 
  as an Executive 
  Director.                    146,307,797   69.49   64,224,403    30.51    2,500     210,532,200 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 5. To elect Mr 
  Ümit Tolga 
  Bilgin as a Non-Executive 
  Director.                    101,082,526   48.39   107,795,977   51.61    79,832    208,878,503 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 7. To re-elect 
  Mr Mehmet Ö 
  ütçü 
  as a Non-Executive 
  Director.                    188,307,797   89.44   22,224,403    10.56    2,500     210,532,200 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 8. To re-elect 
  Mr George Rose 
  as a Non-Executive 
  Director.                    188,309,849   89.45   22,220,851    10.55    4,000     210,530,700 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 10. To elect Mr 
  Stephen Whyte as 
  a Non-Executive 
  Director                     208,945,300   99.99     10,535      0.01     2,500     208,955,835 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 11. To re-elect 
  Mrs Gulsun Nazli 
  Karamehmet Williams 
  as a non-executive 
  director.                    146,307,849   69.49   64,224,351    30.51    2,500     210,532,200 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 12. To re-appoint 
  PricewaterhouseCoopers 
  LLP as the Company's 
  Auditors.                    188,311,643   89.45   22,220,557    10.55    2,500     210,532,200 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 13. To authorise 
  the Board of Directors 
  to set the Auditors' 
  fees.                        188,315,544   89.45   22,216,656    10.55    2,500     210,532,200 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 14. To give the 
  Company limited 
  authority to make 
  political donations 
  and incur political 
  expenditure.                 165,092,660   78.42   45,439,539    21.58    2,501     210,532,199 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 15. To authorise 
  the Company to 
  purchase its ordinary 
  shares.                      188,412,079   89.49   22,120,121    10.51    2,500     210,532,200 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 16. To permit the 
  Company to hold 
  general meetings, 
  other than an annual 
  general meeting, 
  on not less than 
  14 clear days' 
  notice                       188,326,549   89.45   22,205,651    10.55    2,500     210,532,200 
----------------------------  ------------  ------  ------------  ------  ---------  ------------ 
 

Following the result of the resolution in relation to the re-election of the Chief Executive Officer, the Board of Genel Energy retains full confidence in Murat Özgül's ability to successfully deliver the Company strategy and create value for shareholders.

Tolga Bilgin has not received the required 50% majority of votes in favour of his election and accordingly has not been appointed as a Director.

The Board of Directors notes that, although the resolutions to approve the Directors' Remuneration Policy and Annual Report on Remuneration were passed with the requisite majority, c.31% of votes were cast against them. The Board will take note of the voting and review accordingly.

The full text of the resolutions may be found in the Notice of the Annual General Meeting, copies of which are available on both the Company's website, www.genelenergy.com, and on the National Storage Mechanism www.hemscott.com/nsm.do.

A copy of the special resolutions (resolutions 15 and 16) passed at the Annual General Meeting, have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do.

The Company also announces that Stephen Mitchell, General Counsel, has been appointed Company Secretary with immediate effect.

-ends-

For further information, please contact:

 
 Genel Energy 
  Phil Corbett, Head of Investor 
  Relations 
  Andrew Benbow, Head of Public 
  Relations                         [phone] 
 
 Vigo Communications 
  Patrick d'Ancona                  [phone] 
 

Notes to editors:

Genel Energy is an independent oil and gas exploration and production company listed on the main market of the London Stock Exchange (LSE: GENL). The Company, with headquarters in London and offices in Ankara and Erbil, is one of the largest London-listed oil producers and the largest holder of reserves and resources in the Kurdistan Region of Iraq. Through its Miran and Bina Bawi gas fields, the Company is positioned to be a cornerstone provider of KRI gas to Turkey under the KRI-Turkey Gas Sales Agreement. Genel also continues to pursue further growth opportunities within the Middle East and Africa. For further information, please refer to www.genelenergy.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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June 06, 2017 09:35 ET (13:35 GMT)