SEPLAT Petroleum Development Co PLC Result of AGM (4547Z)

TIDMSEPL

RNS Number : 4547Z

SEPLAT Petroleum Development Co PLC

17 May 2019

17 May 2019

Seplat Petroleum Development Company Plc ("Seplat" or the "Company")

Results of the Annual General Meeting

Seplat Petroleum Development Company Plc announces that at its Annual General Meeting held yesterday, Thursday 16 May 2019 at the

Civic Centre, Victoria Island, Lagos, Nigeria, all resolutions set out in the Notice of Annual General Meeting put to the shareholders were

duly passed by the requisite majority.

The results of each resolution voted by way of poll including proxy votes lodged with the Company's Registrars are set out below:

 
 RESOLUTIONS                                                                                        TOTAL VOTES         % of         VOTES WITHHELD        RESULT 
                                                                                                                         ISC 
                               FOR                                  AGAINST                                             Votes 
---------------                                   -------------------------------------------  ---------------------  -------  -------------------------  -------- 
                       Holding         % Holding              Holding               % Holding 
---------------                       ----------  -------------------------------  ----------  ---------------------  -------  -------------------------  -------- 
 Resolution 1: 
  To receive 
  the 
  Annual 
  Accounts, 
  Directors' 
  Report, 
  Auditors' 
  Report 
  for the year 
  ended 31 
  December 
  2018 and the 
  Audit 
  Committee 
  Report.                304,038,429    100.00%                               -       0.00%              304,038,429   51.67%                284,406,132   CARRIED 
 Resolution 2: 
  To declare a 
  final 
  dividend 
  recommended 
  by 
  the Board of 
  Directors of 
  the Company 
  in 
  respect of 
  the 
  financial 
  year 
  ended 31 
  December 
  2018.                  306,853,146    100.00%                              20       0.00%              306,853,166   52.15%                281,591,395   CARRIED 
 Resolution 3: 
  To Re-Appoint 
  Ernst & Young 
  Nigeria as 
  Auditors 
  of the 
  Company 
  from the 
  conclusion 
  of this 
  Meeting 
  until the 
  conclusion 
  of the next 
  General 
  Meeting of 
  the 
  Company at 
  which 
  the Company's 
  Annual 
  Accounts 
  are laid.              181,494,795    100.00%                                 1     0.00%              181,494,796   30.84%                406,949,765   CARRIED 
                 -------------------  ----------  -------------------------------  ----------  ---------------------  -------  -------------------------  -------- 
 Resolution 4: 
  To authorize 
  the Board of 
  Directors of 
  the Company 
  to 
  determine the 
  Auditors' 
  Remuneration.          306,450,320    100.00%                              20       0.00%              306,450,340   52.08%                281,994,221   CARRIED 
                 -------------------              -------------------------------              ---------------------  -------                             -------- 
 Resolution 5a: 
  To Re-appoint 
  Mrs. Ifueko 
  Marina 
  Omoigui 
  Okauru 
  as a Director 
  of the 
  Company.               157,406,149    100.00%                              23       0.00%       157,406,172          26.75%                431,038,389   CARRIED 
                 -------------------              -------------------------------              ---------------------  -------                             -------- 
 Resolution 5b: 
  To Re-appoint 
  Mr. Damian 
  Dinshiya 
  Dodo (SAN) as 
  a Director of 
  the Company.           233,832,699    99.95%                     106,770            0.05%              233,939,469   39.76%                354,505,092   CARRIED 
                 -------------------              -------------------------------              ---------------------  -------                             -------- 
 Resolution 6: 
 To Elect 
 Members 
 of the Audit                                           Voting by show of hand. 3 Members representing shareholders 
 Committee.                                                                       elected                                                                  CARRIED 
                 ---------------------------------------------------------------------------------------------------------------------------------------  -------- 
 Resolution 7: 
  To Approve 
  the 
  Remuneration 
  Section of 
  the 
  Directors' 
  Remuneration 
  Report set 
  out 
  in the Annual 
  Report and 
  Accounts 
  for the year 
  ended 31 
  December 
  2018.                  306,646,218    99.86%                     430,620            0.14%              307,076,838   52.18%                281,367,723   CARRIED 
                 -------------------  ----------  -------------------------------  ----------  ---------------------  -------  -------------------------  -------- 
 

Notes:

1. A "Vote Withheld" is not a vote in law and is not counted in the calculation of the proportion of votes "For" or "Against" any resolution nor in the calculation of the proportion of "Percentage of ISC voted" for any resolution.

2. The percentage of votes "For" and "Against" any resolution is expressed as a percentage of votes validly cast for that resolution.

3. In accordance with Section 225 (3) of the Nigerian Companies and Allied Matters Act (CAMA), the election of the statutory Audit Committee shareholder representative members is conducted by a show of hands at the AGM rather than by poll and proxy.

4. The Issued Share Capital ("ISC") at the time of the Annual General Meeting was 588,444,561 shares denominated in Naira of 50 kobo per share. The proportion of "Percentage of ISC voted" for any resolution is the total of votes "For" and "Against" in respect of that resolution expressed as a percentage of the ISC.

5. In accordance with LR 9.6.2, copies of the relevant ordinary and special resolutions passed at the meeting have been submitted to the FCA's National Storage Mechanism and will shortly be available to view at http://www.morningstar.co.uk/uk/NSM. The full text of the resolutions passed at the Annual General Meeting can be found in the Notice of Annual General Meeting, which is available for inspection at the National Storage Mechanism and also on the Company's website at http://www.seplatpetroleum.com.

- Ends -

Enquiries

 
    Seplat Petroleum Development Company 
     Plc 
    Roger Brown, CFO                           [phone] 
    Ayeesha Aliyu, Investor Relations          [phone] 
    Chioma Nwachuku, GM External Affairs 
     & Communications 
 
    FTI Consulting 
    Ben Brewerton / Sara Powell                [phone] 
                                               [e-mail] 
 

Notes to editors

Seplat Petroleum Development Company Plc is a leading indigenous Nigerian oil and gas exploration and production company with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange ("LSE") (LSE:SEPL) and Nigerian Stock Exchange ("NSE") (NSE:SEPLAT). For further information please refer to the Company website, http://seplatpetroleum.com/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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May 17, 2019 09:59 ET (13:59 GMT)