Premier Oil PLC Result of AGM (3436O)

TIDMPMO

RNS Number : 3436O

Premier Oil PLC

16 May 2018

PREMIER OIL PLC

Result of Annual General Meeting

The Annual General Meeting ("AGM") of Premier Oil plc (the "Company") was held today, 16 May 2018, at No. 11 Cavendish Square, London, W1G 0AN at 11.00am. 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) 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   1       Approve Annual Report and Accounts        381,934,915    99.99      53,966       0.01        2,552,108 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   2     Approve Annual Report on Remuneration       258,516,183    68.34    119,764,664    31.66       6,260,141 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   3              Re-elect Robin Allan               381,905,004    99.38     2,379,978     0.62         256,007 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   4              Elect Dave Blackwood               382,093,426    99.43     2,197,798     0.57         249,765 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   5           Re-elect Anne Marie Cannon            381,465,598    99.26     2,851,780     0.74         223,611 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   6             Re-elect Tony Durrant               380,629,234    99.05     3,655,008     0.95         256,747 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   7              Elect Roy A Franklin               371,007,566    98.43     5,922,552     1.57        7,610,870 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   8             Re-elect Jane Hinkley               359,510,197    93.55    24,792,139     6.45         238,651 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
   9            Re-elect Iain Macdonald              381,405,742    99.25     2,896,224     0.75         239,023 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  10             Re-elect Richard Rose               381,812,402    99.35     2,497,943     0.65         230,644 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  11               Elect Mike Wheeler                381,221,081    99.20     3,066,813     0.80         253,095 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  12    Re-appoint Ernst & Young LLP as Auditor      380,867,429    99.58     1,604,163     0.42        2,069,395 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
            Authorise ARC to approve Auditor 
  13                  remuneration                   383,687,870    99.86      552,487      0.14         300,632 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  14      Authorise Company to make political        371,708,728    96.73    12,558,019     3.27         274,242 
                       donations 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  15      Authorise Directors to allot shares        380,597,070    99.06     3,598,908     0.94         345,011 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  16    Authority to disapply pre-emption rights     383,774,800    99.88      453,302      0.12         312,887 
         (up to 5% of issued share capital) (c) 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  17    Authority to disapply pre-emption rights     380,049,827    98.92     4,164,414     1.08         326,747 
        in connection with specific acquisition/ 
                       investment 
        (further 5% of issued share capital) (c) 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  18      Authority to purchase own shares (c)       381,258,583    99.25     2,891,043     0.75         391,362 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
  19     Authority to call General Meetings by       372,654,606    96.97    11,651,781     3.03         234,602 
          notice of not less than 14 days (c) 
----  -------------------------------------------  --------------  ------  --------------  ------  ------------------- 
 

NOTES:

(a) The "For" proxy vote includes those giving the Chairman 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 Board notes that Resolution 2, to approve the remuneration report, has received a significant number of votes cast against it (119,764,664 votes, 31.66% of votes validly cast). An extensive shareholder engagement programme was undertaken prior to the AGM. We thank those shareholders who have spoken with us to explain their reasons for both supporting and voting against the resolution. The Remuneration Committee remains committed to continuing dialogue with shareholders in the ongoing implementation of our Remuneration Policy. The Committee will now analyse the voting outcome and will continue to engage with major shareholders to more fully understand their perspectives, as appropriate.

Votes "For" and "Against" are expressed as a percentage of all proxy votes received in advance of the AGM, excluding any "Withheld" votes.

The total number of shares in issue on 14 May 2018, the deadline for casting votes by proxy in advance of the AGM, was 768,143,965 shares. 50.06% 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.premier-oil.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 have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM

 
 Enquiries 
 Premier Oil plc        Tel: [phone] 
 Company Secretariat: 
  Rachel Rickard 
 Investor Relations: 
  Elizabeth Brooks 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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May 16, 2018 13:03 ET (17:03 GMT)