Good Energy Group PLC Result of AGM (5909R)

TIDMGOOD

RNS Number : 5909R

Good Energy Group PLC

30 June 2020

Good Energy Group PLC

(the "Company")

Results of Annual General Meeting

At the Company's Annual General Meeting held at 4pm on Tuesday 30 June, shareholders passed Ordinary resolutions 1 - 5 and 7.

The Board notes that that Ordinary resolution 6 did not pass. This resolution sought shareholder approval to renew the Company's authority to continue its referral arrangements, even if they constituted political donation or political expenditure, up to an aggregate limit of GBP40,000. This resolution was proposed as a precautionary measure, in case any of the Company's normal operating activities were caught by the broad definition of political expenditure contained in the Companies Act 2006. The Company and its subsidiaries made no political donations and incurred no political expenditure following the conclusion of the 2019 Annual General Meeting to date.

The Board notes that special resolutions 8, 9, 10 and 11 also did not pass. Resolutions 9 and 11 were relatively standard authorities that UK listed companies take at annual general meetings, relating to the allotment of 5% of shares for cash on a non-pre-emptive basis and purchase of own shares. Resolution 10 was included to potentially avoid further costs which would be borne by the Company in convening a general meeting of shareholders should the necessity for a non pre-emptive issue of new Ordinary Shares in excess of the authorities granted by Resolutions 8 and 9 arise between the date of the AGM and 30 September 2020. The board is disappointed not to receive this limited additional flexibility of the special resolutions to pursue opportunities in the interests of the Company and its shareholders.

The results of the AGM will be published on the Company's website as soon as practicable following the meeting.

The full text of the resolutions may be found in the Notice of the Annual General Meeting, copies of which are also available on the Company's website at www.group.goodenergy.co.uk/investor-centre/agm-and-general-meeting-information/

Enquiries:

 
 Good Energy Group PLC                   Via Walbrook PR 
  Juliet Davenport, Chief Executive 
  Charlie Parry, Investor Relations 
  Luke Bigwood, Communications 
 Investec Bank plc (Nominated Adviser)   Tel: [phone] 
  Jeremy Ellis 
  Sara Hale 
 Walbrook (Financial PR)                 [e-mail] 
  Nick Rome                               Tel: [phone] 
  Tom Cooper 
 

Notes to editors:

About Good Energy www.goodenergy.co.uk

Good Energy is a generator and supplier of 100% renewable power and an innovator in energy services. It currently owns two wind farms, six solar farms and sources electricity from a community of 1,500 independent UK generators.

Since it was founded 20 years ago, the Company has been at the forefront of the charge towards a cleaner, distributed energy system. Its mission is to support UK households and businesses generate, store and share clean power.

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June 30, 2020 11:35 ET (15:35 GMT)