Share Name Share Symbol Market Type Share ISIN Share Description
Premier Oil LSE:PMO London Ordinary Share GB00B43G0577 ORD 12.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.00p -4.78% 59.75p 60.00p 60.50p 61.25p 59.75p 61.00p 6,274,237 16:35:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 796.4 -316.3 19.4 3.2 305.22

Premier Oil PLC Result of AGM

17/05/2017 4:30pm

UK Regulatory (RNS & others)


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Premier Oil PLC

17 May 2017

PREMIER OIL PLC

Result of Annual General Meeting

The Annual General Meeting ("AGM") of Premier Oil plc (the "Company") was held today, 17 May 2017, 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. Furthermore, following the retirement of Joe Darby from the Board, Jane Hinkley has been appointed Senior Independent Director of the Company with effect from the conclusion of the AGM. Jane will also continue to chair the Company's Remuneration Committee.

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                   Annual Report and Accounts     143,012,120   99.34         945,916    0.66               54,136 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   2                          Remuneration Policy     126,747,108   88.18      16,991,271   11.82              273,793 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   3                Annual Report on Remuneration      99,381,186   69.51      43,595,136   30.49            1,035,850 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   4                         Re-elect Robin Allan     143,213,985   99.49         736,528    0.51               61,659 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   5                   Re-elect Anne Marie Cannon     142,482,858   98.98       1,467,206    1.02               62,108 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   6                        Re-elect Tony Durrant     143,043,672   99.37         903,013    0.63               65,487 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   7                        Re-elect Jane Hinkley     142,228,542   98.80       1,722,304    1.20               60,380 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   8                      Re-elect Iain Macdonald     143,414,415   99.64         520,580    0.36               62,414 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   9                        Re-elect Richard Rose     143,305,320   99.56         627,962    0.44               63,181 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  10                         Re-elect Mike Welton     143,184,349   99.47         765,901    0.53               61,922 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  11         Appoint Ernst & Young LLP as Auditor     143,174,768   99.44         811,050    0.56               26,354 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  12                         Auditor remuneration     142,531,224   98.99       1,447,560    1.01               31,748 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
              Authorise Company to make political 
  13                                    donations     139,067,534   96.64       4,841,906    3.36              102,732 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  14          Authorise Directors to allot shares     142,451,098   98.96       1,494,656    1.04               66,418 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  15       Approve the Premier Oil 2017 Long Term     124,971,037   86.92      18,804,240   13.08              236,895 
                                   Incentive Plan 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  16     Authority to disapply pre-emption rights     143,320,399   99.59         592,216    0.41               99,557 
           (up to 5% of issued share capital) (c) 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  17     Authority to disapply pre-emption rights     142,038,754   98.69       1,887,806    1.31               85,612 
         in connection with specific acquisition/ 
                                       investment 
         (further 5% of issued share capital) (c) 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  18         Authority to purchase own shares (c)     140,491,940   97.56       3,510,052    2.44               20,180 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  19       Notice period for General Meetings (c)     139,966,920   97.21       4,010,610    2.79               34,642 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
 

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.

The Board notes that Resolution 3 to approve the remuneration report has received a significant number of votes cast against it (43,595,136 votes, 30.49% of votes validly cast). The Committee will now analyse the voting outcome and will continue to engage with major shareholders to more fully understand their perspectives, as appropriate. We thank those shareholders who have spoken with us to explain their reasons for voting against the Resolution. The Remuneration Committee is committed to continuing dialogue with shareholders to help shape the implementation of our Remuneration Policy over the coming years.

Votes "For" and "Against" are expressed as a percentage of all proxy votes received in advance of the AGM, excluding any "Withheld" votes.

The total number of shares in issue on 15 May 2016, the deadline for casting votes by proxy in advance of the AGM, was 510,824,261 shares. 28.19% 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 have been 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: 
  Daniel Rose 
 Investor Relations: 
  Elizabeth Brooks 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 17, 2017 11:30 ET (15:30 GMT)

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