JKX Oil & Gas PLC Result of AGM (5200Q)

TIDMJKX

RNS Number : 5200Q

JKX Oil & Gas PLC

19 June 2020

LEI: 213800AS2I1XUAGQ6F27

19 June 2020

JKX Oil & Gas plc

("JKX", the "Company" or the "Group")

Result of AGM

JKX announces that at its AGM this morning Ordinary Resolutions 1, 2, 3, 4, 5, 6, 7, 8, 9 and 10 and Special Resolution 11 were passed. A table showing the voting is below.

Commenting on the AGM, Charles Valceschini, Chairman of JKX's Board, said, "The last twelve months have seen a unique combination of events. Yet despite facing a global pandemic, with all that this entailed, the collapse in hydrocarbon prices, and significant changes in the composition of the JKX Board, there have been many reassuring things to report.

"Your company is now debt free, for the first time in many years, with reserves of $14.7m of cash, cash equivalents and product inventory at 31 May 2020. Production for 1Q2020 was up 11% year on year after already rising by 20% over the full year 2019. A number of long-outstanding claims brought by the Ukrainian tax authorities have been settled in our favour and the Board has adjusted its previous work programme and budget with a view to increasing your Company's resilience in a challenging commercial environment.

"We are all too aware of the external challenges we face, but we believe that our fundamentals are sound and in a better position than they have been for years. We are confident that this will be recognised by the market."

 
        VOTES        %       VOTES       %       VOTES      % of ISC     VOTES 
          FOR                AGAINST              TOTAL       VOTED     WITHHELD 
 1    51,759,248   99.96%     22,457   0.04%   51,781,705      30.15       4,194 
     -----------  -------  ---------  ------  -----------  ---------  ---------- 
 2    51,716,227   99.88%     61,017   0.12%   51,777,244      30.15       8,655 
     -----------  -------  ---------  ------  -----------  ---------  ---------- 
 3    51,726,717   99.90%     50,527   0.10%   51,777,244      30.15       8,655 
     -----------  -------  ---------  ------  -----------  ---------  ---------- 
 4    51,712,508   99.92%     40,045   0.08%   51,752,553      30.14      33,346 
     -----------  -------  ---------  ------  -----------  ---------  ---------- 
 5    51,719,958   99.93%     34,818   0.07%   51,754,776      30.14      31,123 
     -----------  -------  ---------  ------  -----------  ---------  ---------- 
 6    51,705,211   99.93%     38,595   0.07%   51,743,806      30.13      42,093 
     -----------  -------  ---------  ------  -----------  ---------  ---------- 
 7    51,712,524   99.92%     39,029   0.08%   51,751,553      30.14      34,346 
     -----------  -------  ---------  ------  -----------  ---------  ---------- 
 8    51,736,927   99.94%     29,979   0.06%   51,766,906      30.15      18,993 
     -----------  -------  ---------  ------  -----------  ---------  ---------- 
 9    51,776,286   99.99%      7,594   0.01%   51,783,880      30.16       2,019 
     -----------  -------  ---------  ------  -----------  ---------  ---------- 
 10   51,762,474   99.96%     19,983   0.04%   51,782,457      30.15       3,442 
     -----------  -------  ---------  ------  -----------  ---------  ---------- 
 11   51,732,845   99.94%     32,787   0.06%   51,765,632      30.14      20,267 
     -----------  -------  ---------  ------  -----------  ---------  ---------- 
 

ENDS

   EM Communications                         [phone] 

Stuart Leasor, Jeroen van de Crommenacker

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June 19, 2020 06:16 ET (10:16 GMT)