Pharos Energy PLC RESULTS OF ANNUAL GENERAL MEETING (7227A)

TIDMPHAR

RNS Number : 7227A

Pharos Energy PLC

25 May 2023

25 May 2023

Pharos Energy plc

("Pharos" or the "Company" or, together with its subsidiaries, the "Group")

RESULTS OF ANNUAL GENERAL MEETING

The Company announces that at its Annual General Meeting held at Storey Club, 100 Liverpool Street, London, EC2M 2AT today, all resolutions put before the meeting were duly passed.

In accordance with LR 9.6.2, copies of resolutions concerning items other than ordinary business are being 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.

On the date of the meeting, Pharos' issued share capital consisted of 440,188,180 ordinary shares of GBP0.05 each with voting rights; 9,122,268 shares were in Treasury and therefore, the total number of voting rights was 431,065,912.

Voting was conducted on a poll, the results of which are shown in the table below and will shortly be available on the Company's website, www.pharos.energy .

 
   Resolution              Votes in                                                       Total 
                           Favour             %                Votes      %               Votes                  Votes 
                           (Including                         Against                     (excluding             Withheld 
                           Discretionary)                                                 votes 
                                                                                          withheld) 
 1. To receive 
  the Annual 
  Report 
  and Accounts 
  for the 
  financial 
  year ended 31 
  December 2022.              201,744,668  99.99%              17,659   0.01%            201,762,327           35,032,731 
                  =======================  ======  ==================  ======  =====================  =================== 
 2. To declare a 
  final dividend 
  of 1 pence per 
  share.                      202,049,031  85.33%          34,746,027  14.67%            236,795,058                    0 
                  =======================  ======  ==================  ======  =====================  =================== 
3. To approve 
 the Directors' 
 Remuneration 
 Policy included 
 in the Annual 
 Report and 
 Accounts 
 for the 
 financial year 
 ended 
 31 December 
 2022.                        200,307,051  84.59%          36,478,777  15.41%            236,785,828                9,230 
                  =======================  ======  ==================  ======  =====================  =================== 
 4. To approve 
  the Directors' 
  Remuneration 
  Report 
  included 
  in the Annual 
  Report and 
  Accounts 
  for the 
  financial year 
  ended 
  31 December 
  2022.                       200,237,478  84.58%          36,498,967  15.42%            236,736,445               58,613 
                  =======================  ======  ==================  ======  =====================  =================== 
 5. To reappoint 
  John Martin, 
  who is Chair 
  of the 
  Nominations 
  and ESG 
  Committees, as 
  a Director                  231,004,568  97.56%           5,789,415   2.44%            236,793,983                1,075 
                  =======================  ======  ==================  ======  =====================  =================== 
 6. To reappoint 
  Jann Brown, 
  who is a 
  member of the 
  ESG 
  and 
  Nominations 
  Committees, 
  as a Director.              199,786,575  84.37%          37,001,108  15.63%            236,787,683                7,375 
                  =======================  ======  ==================  ======  =====================  =================== 
7. To reappoint 
 Marianne 
 Daryabegui, 
 who is a member 
 of the who 
 is a member of 
 the Audit and 
 Risk, ESG, 
 Nominations and 
 Remuneration 
 Committees, as 
 a Director.                  201,713,840  85.19%          35,073,843  14.81%            236,787,683                7,375 
                  =======================  ======  ==================  ======  =====================  =================== 
 8. To reappoint 
  Geoffrey 
  Green, 
  who is Chair 
  of the 
  Remuneration 
  Committee and 
  a member of 
  the 
  Audit and 
  Risk, ESG and 
  Nominations 
  Committees, as 
  a Director.                 198,097,821  84.24%          37,064,272  15.76%            235,162,093            1,632,965 
                  =======================  ======  ==================  ======  =====================  =================== 
 9. To reappoint 
  Lisa Mitchell, 
  who is Chair 
  of the Audit 
  and 
  Risk Committee 
  and a member 
  of the ESG, 
  Nominations 
  and 
  Remuneration 
  Committees, as 
  a Director.                 199,799,581  84.38%          36,988,902  15.62%            236,788,483                6,575 
                  =======================  ======  ==================  ======  =====================  =================== 
 10. To 
  reappoint Sue 
  Rivett, 
  who is a 
  member of the 
  ESG 
  Committee, as 
  a Director.                 199,799,581  84.38%          36,988,902  15.62%            236,788,483                6,575 
                  =======================  ======  ==================  ======  =====================  =================== 
 11. To 
  reappoint 
  Deloitte LLP 
  as Auditors to 
  hold office 
  until the 
  conclusion of 
  the 
  next Annual 
  General 
  Meeting 
  at which 
  accounts are 
  laid 
  before the 
  Company.                    234,331,058  98.96%           2,461,109   1.04%            236,792,167                2,891 
                  =======================  ======  ==================  ======  =====================  =================== 
 12. To 
  authorise the 
  Audit 
  and Risk 
  Committee, for 
  and 
  on behalf of 
  the Directors, 
  to agree the 
  Auditors' 
  remuneration.               202,009,136  99.97%              52,326   0.03%            202,061,462           34,733,596 
                  =======================  ======  ==================  ======  =====================  =================== 
 13. To 
  authorise the 
  Directors 
  to allot 
  securities 
  (s.551 
  of the 
  Companies Act 
  2006).                      201,418,918  85.07%          35,340,141  14.93%            236,759,059               35,999 
                  =======================  ======  ==================  ======  =====================  =================== 
 14. To disapply 
  pre-emption 
  rights (s.570 
  and s.573 of 
  the Companies 
  Act 2006)                   197,304,289  97.65%           4,757,321   2.35%            202,061,610           34,733,448 
                  =======================  ======  ==================  ======  =====================  =================== 
 15. To disapply 
  pre-emption 
  rights (s.570 
  and s.573 of 
  the Companies 
  Act 2006) for 
  acquisitions 
  or specified 
  capital 
  investments.                197,306,294  97.65%           4,754,669   2.35%            202,060,963           34,734,095 
                  =======================  ======  ==================  ======  =====================  =================== 
 16. To 
  authorise the 
  Company 
  to repurchase 
  its own Shares 
  (s.701 of the 
  Companies Act 
  2006).                      236,776,060  99.99%              16,335   0.01%            236,792,395                2,663 
                  =======================  ======  ==================  ======  =====================  =================== 
 17. To 
  authorise the 
  Directors 
  to call 
  general 
  meetings of 
  the Company 
  (other than an 
  annual general 
  meeting) on 
  not less than 
  14 clear days' 
  notice.                     236,552,421  99.90%             242,637   0.10%            236,795,058                    0 
                  =======================  ======  ==================  ======  =====================  =================== 
 

For further information, please contact:

Pharos Energy plc Tel: [phone]

Tony Hunter, Company Secretary

Camarco Tel: [phone]

Billy Clegg | Georgia Edmonds | Rebecca Waterworth | Kirsty Duff

Notes to editors

Pharos Energy plc is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders, which is listed on the London Stock Exchange. Pharos has production, development and/or exploration interests in Egypt and Vietnam. In Egypt, Pharos holds a 45% working interest share in the El Fayum Concession in the Western Desert, with IPR Lake Qarun, part of the international integrated energy business IPR Energy Group, holding the remaining 55% working interest. The El Fayum Concession produces oil from 10 fields and is located 80 km southwest of Cairo. It is operated by Petrosilah, a 50/50 joint stock company between the contractor parties (being IPR Lake Qarun and Pharos) and the Egyptian General Petroleum Corporation (EGPC). Pharos also holds a 45% working interest share in the North Beni Suef (NBS) Concession in Egypt, which is located immediately south of the El Fayum Concession. IPR Lake Qarun operates and holds the remaining 55% working interest in the NBS Concession. In Vietnam, Pharos has a 30.5% working interest in Block 16-1 which contains 97% of the Te Giac Trang (TGT) field and is operated by the Hoang Long Joint Operating Company. Pharos' unitised interest in the TGT field is 29.7%. Pharos also has a 25% working interest in the Ca Ngu Vang (CNV) field located in Block 9-2, which is operated by the Hoan Vu Joint Operating Company. Blocks 16-1 and 9-2 are located in the shallow water Cuu Long Basin, offshore southern Vietnam. Pharos also holds a 70% interest in, and is designated operator of, Blocks 125 & 126, located in the

moderate to deep water Phu Khanh Basin, north east of the Cuu Long Basin, offshore central Vietnam.

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