ADES International Holding PLC 2019 AGM Results (7433B)

TIDMADES

RNS Number : 7433B

ADES International Holding PLC

10 June 2019

Annual General Meeting Results

(London & Dubai, 10 June 2019) ADES International Holding PLC ("ADES" or the "Company"), a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), announces that the resolutions (the "Resolutions") proposed at the Annual General Meeting of the Company held today were duly passed.

Details of the Resolutions were set out in the circular to shareholders dated 17 May 2019, which is available on the Company's investor relations website (investors.adihgroup.com).

Details of the proxy votes received in respect of the Resolutions are set out below:

 
 Resolution                                     Votes For         Votes Against    Votes Withheld 
                                             Number       %      Number      %         Number 
                                          -----------  -------  --------  ------  --------------- 
 1. Approval of the directors' 
  report and audited accounts for 
  the financial year ended December 
  2018                                     36,334,232    100%       0       0%           0 
                                          -----------  -------  --------  ------  --------------- 
 2. Re-election of Mr Ayman Abbas 
  as an executive director of the 
  Company                                  35,521,212   97.76%   813,020   2.24%         0 
                                          -----------  -------  --------  ------  --------------- 
 3. Re-election of Dr Mohamed Farouk 
  Abdelkhalek as an executive director 
  of the Company                           36,334,232    100%       0       0%           0 
                                          -----------  -------  --------  ------  --------------- 
 4. Re-election of Mr Yasser Zaki 
  Hashem as a non-executive director 
  of the Company                           36,334,232    100%       0       0%           0 
                                          -----------  -------  --------  ------  --------------- 
 5. Re-election of Mr Nabil Kassem 
  as a non-executive director of 
  the Company                              35,521,212   97.76%   813,020   2.24%         0 
                                          -----------  -------  --------  ------  --------------- 
 6. Re-election of Mr Ulf Clemens 
  Ingemar Henriksson as a non-executive 
  director of the Company                  35,611,102   98.01%   723,130   1.99%         0 
                                          -----------  -------  --------  ------  --------------- 
 7. Re-election of Mr Mohamed Walid 
  Cherif as a non-executive director 
  of the Company                           35,611,102   98.01%   723,130   1.99%         0 
                                          -----------  -------  --------  ------  --------------- 
 8. Re-election of Mr Hatem Soliman 
  as a non-executive director of 
  the Company                              36,334,232    100%       0       0%           0 
                                          -----------  -------  --------  ------  --------------- 
 9. Re-appointment of Ernst & Young 
  (Dubai Br.) as independent auditors 
  of the Company                           36,334,232    100%       0       0%           0 
                                          -----------  -------  --------  ------  --------------- 
 10. Authority to determine the 
  remuneration of auditors                 35,521,212   99.75%   89,890    0.25%      723,130 
                                          -----------  -------  --------  ------  --------------- 
 

Notes:

(a) All resolutions were passed.

(b) The votes "For" and "Against" are expressed in percentage of the votes received.

(c) The total number of shares in issue at close of business (UK time) on Wednesday 5 June 2019 (being the reference time for assessing entitlement to vote on the Resolutions) was 43,793,882 ordinary shares of US$1 each.

-Ends-

Enquiries

 
 ADES International Holding 
 Hussein Badawy 
 Investor Relations Officer     [e-mail]                       [phone] 
 
 Instinctif 
 David Simonson                 [e-mail]          [phone] 
 Dinara Shikhametova            [e-mail]     [phone] 
 Sarah Hourahane                [e-mail]         [phone] 
 

NOTES TO EDITORS

About ADES International Holding

ADES International Holding extends oil and gas drilling and production services through its subsidiaries and is a leading service provider in the Middle East and North Africa, offering onshore and offshore contract drilling as well as workover and production services. Its c.4,000 employees serve clients including major national oil companies ("NOCs") such as Saudi Aramco and Kuwait Oil Company as well as joint ventures of NOCs with global majors including BP and Eni. While maintaining a superior health, safety and environmental record, the Group currently has a fleet of thirty-four onshore drilling rigs, thirteen jack-up offshore drilling rigs, a jack-up barge, and a mobile offshore production unit ("MOPU"), which includes a floating storage and offloading unit. For more information, visit investors.adihgroup.com

Forward-looking statements

Certain statements contained in this announcement, including any information as to the Group's strategy, plans or future financial or operating performance constitute "forward looking statements". These forward-looking statements can be identified by the use of forward looking terminology, including the terms "believes", "estimates", "anticipates", "projects", "expects", "intends", "aims", "plans", "predicts", "may", "will", "seeks" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the Directors of the Company concerning, amongst other things, the Group's results of operations, financial condition and performance, prospects, growth and strategies and the industry in which the Group operates.

By their nature, forward looking statements address matters that involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward looking statements are not guarantees of future performance and the Group's actual results of operations and financial condition, and the development of the business sector in which the Group operates, may differ materially from those suggested by the forward-looking statements contained in this announcement. In addition, even if the Group's results of operations and financial condition, and the development of the industry in which the Group operates, are consistent with the forward- looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods.

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 Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

RAGLLFEDRFIILIA

(END) Dow Jones Newswires

June 11, 2019 02:00 ET (06:00 GMT)