Harbour Energy PLC Result of AGM (8941C)

TIDMHBR

RNS Number : 8941C

Harbour Energy PLC

23 June 2021

HARBOUR ENERGY PLC

(the "Company")

Result of Annual General Meeting

The Annual General Meeting ("AGM") of the Company was held today, 23 June 2021, at 23 Lower Belgrave Street, London, SW1W 0NR at 3.00pm. 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.

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) 
       Approve the Premier Oil plc Annual Report 
   1                  and Accounts                  15,076,809,404   99.94     8,493,123     0.06       2,428,359 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
   2   Approve the Premier Oil plc Annual Report    14,913,939,666   98.85    173,270,899    1.15        520,322 
                    on Remuneration 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
   3   Approve the Directors' Remuneration Policy   14,593,098,273   97.19    421,903,633    2.81       72,728,980 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
   4    Approve amendments to the Harbour Energy    14,594,042,828   97.20    421,075,951    2.80       72,612,108 
             2017 Long Term Incentive Plan 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
   5             Elect R. Blair Thomas              15,066,505,481   99.86    20,755,909     0.14        469,497 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
   6              Elect Linda Z. Cook               15,081,643,888   99.96     5,484,014     0.04        602,985 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
   7                Elect Phil Kirk                 15,081,678,271   99.96     5,583,122     0.04        469,497 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
   8             Elect Alexander Krane              15,081,419,032   99.96     5,840,358     0.04        471,497 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
   9               Elect Simon Henry                15,085,798,870   99.99     1,460,520     0.01        471,497 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  10           Re-elect Anne Marie Cannon           15,085,434,394   99.99     1,831,897     0.01        464,596 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  11             Elect G. Steven Farris             15,078,030,049   99.94     9,229,434     0.06        471,404 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  12              Elect Alan Ferguson               15,073,477,690   99.91    13,650,305     0.09        602,892 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  13               Elect Andy Hopwood               15,084,550,699   99.98     2,708,784     0.02        471,404 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  14           Elect Margareth Øvrum           15,082,530,288   99.97     4,727,195     0.03        473,404 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  15               Elect Anne Stevens               15,084,686,520   99.98     2,572,963     0.02        471,404 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  16    Re-appoint Ernst & Young LLP as Auditor     15,068,964,630   99.89   16,043,852      0.11       2,722,405 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  17    Authorise the Audit & Risk Committee to     15,037,378,054   99.68    47,631,193     0.32       2,721,640 
              approve Auditor remuneration 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  18    Authorise the Company to make political     15,034,024,327   99.92    12,383,934     0.08       41,322,626 
                       donations 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  19   Approve the consolidation of the Company's   15,084,058,852   99.98     3,235,815     0.02        436,220 
          ordinary shares on a 1 for 20 basis 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  20      Authorise Directors to allot shares       15,021,960,238   99.57    65,180,024     0.43        590,625 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  21    Authority to disapply pre-emption rights    15,043,150,244   99.71    44,022,677     0.29        557,966 
         (up to 5% of issued share capital) (c) 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  22    Authority to disapply pre-emption rights    15,035,858,961   99.66    51,316,410     0.34        555,516 
        in connection with specific acquisition/ 
                       investment 
        (further 5% of issued share capital) (c) 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  23   To approve the adoption of new Articles of   15,082,350,827   99.97     4,903,065     0.03        476,995 
                    Association (c) 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
  24     Authority to call General Meetings by      15,066,192,075   99.86    21,075,074     0.14        463,738 
          notice of not less than 14 days (c) 
      -------------------------------------------  ---------------  ------  --------------  -----  ------------------- 
 

NOTES:

(a) The "For" proxy vote includes those giving the Chair 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 total number of shares in issue on 21 June 2021, the deadline for casting votes by proxy in advance of the AGM, was 18,510,652,139 shares. 81.51% 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.harbourenergy.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, will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism

Share Consolidation

Following the approval of Resolution 19 and, as explained in the Notice of AGM, the Company's existing ordinary shares of 0.0001 pence each (the 'Existing Ordinary Shares') will now be consolidated into new ordinary shares of 0.002 pence each (the 'New Ordinary Shares') such that shareholders on the Company's register of members at 6:00pm on 24 June 2021 will hold 1 New Ordinary Share of 0.002 pence each for every 20 Existing Ordinary Shares of 0.0001 pence each.

Requests have been made to the Financial Conduct Authority for the New Ordinary Shares to be admitted to the premium segment of the Official List and to the London Stock Exchange and for the New Ordinary Shares to be admitted to trading on the London Stock Exchange's Main Market for listed securities.

It is expected that the New Ordinary Shares arising from the share consolidation will be admitted to listing and trading from 8:00am on 25 June 2021 with ISIN number GB00BMBVGQ36.

Immediately following admission, the Company will have 925,532,606 ordinary shares of 0.002 pence each in issue; therefore, the total voting rights in the Company will be 925,532,606. This figure may be used by shareholders as the denominator for calculations by which they may determine whether or not 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.

Existing equity warrants

The Company confirms that the aforementioned share consolidation will result in an adjustment to the exercise price under the terms of the existing equity warrants issued by the Company in 2017. The exercise price will be adjusted from GBP0.4017 to GBP8.0340 with effect from 25 June 2021. In addition, each outstanding equity warrant will be exercisable over one-twentieth of a New Ordinary Share from the 25 June 2021.

Enquiries

   Rachel Rickard, Company Secretary                                         Tel: [phone] 
   Elizabeth Brooks, Head of Investor Relations                         Tel:  [phone] 

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June 23, 2021 10:45 ET (14:45 GMT)