TIDMENQ
RNS Number : 7931B
EnQuest PLC
06 June 2023
EnQuest PLC ("EnQuest" or the "Company")
Voting results of the Annual General Meeting held on 5 June
2023
EnQuest announces that at the Company's Annual General Meeting
held today, all resolutions set out in the Notice of Annual General
Meeting and put to the meeting were passed by the requisite
majority by way of a poll.
The results of the poll are set out below. The number of
ordinary shares in issue is 1,885,924,339.
Resolution For * % Against % Withheld
**
Annual Report & Accounts
1 2022 893,535,854 99.95 469,813 0.05 4,634,354
------------------------------ ------------ ------ ------------ ------ ----------
The Directors are required to lay the Annual Report and Accounts
before the shareholders each year at the AGM, including the reports
of the Directors and Auditor.
2 Re-election of Amjad Bseisu 877,132,916 97.61 21,489,151 2.39 17,954
------------------------------ ------------ ------ ------------ ------ ----------
3 Election of Salman Malik 897,233,764 99.86 1,259,153 0.14 147,104
------------------------------ ------------ ------ ------------ ------ ----------
4 Election of Gareth Penny 889,007,532 98.94 9,487,484 1.06 145,005
------------------------------ ------------ ------ ------------ ------ ----------
5 Re-election Farina Khan 827,571,564 92.11 70,921,353 7.89 147,104
------------------------------ ------------ ------ ------------ ------ ----------
6 Re-election of Rani Koya 888,099,235 99.23 6,852,314 0.77 3,688,472
------------------------------ ------------ ------ ------------ ------ ----------
Re-election of Liv Monica
7 Stubholt 895,883,440 99.71 2,600,576 0.29 156,005
------------------------------ ------------ ------ ------------ ------ ----------
The Directors have the power to appoint a Director during the
year but any person so appointed must stand for election at the
next AGM. A retiring Director is eligible to stand for re-election
and, in accordance with best practice, each continuing Director
stands for election or re-election at each AGM. Salman Malik
and Gareth Penny stood for election having both been appointed
during the year. Amjad Bseisu, Farina Khan, Rani Koya and Liv
Monica Stubholt stood for re-election. Carl Hughes, John Winterman
and Howard Paver did not stand for re-election and, accordingly,
have stepped down from the Board following the conclusion of
the 2023 AGM.
8 Re-Appointment of auditor 898,123,993 99.96 377,965 0.04 138,063
------------------------------ ------------ ------ ------------ ------ ----------
Authority to set auditor
9 remuneration 898,007,077 99.95 487,603 0.05 145,341
------------------------------ ------------ ------ ------------ ------ ----------
The above resolutions serve to re-appoint Deloitte LLP as auditor
of the Company to hold office from the conclusion of the AGM
until the conclusion of the next AGM, at which accounts are laid
before the Company, and to authorise the Audit Committee to set
the auditor's remuneration.
Directors' Remuneration
10 Report 765,121,393 85.73 127,331,465 14.27 6,187,163
------------------------------ ------------ ------ ------------ ------ ----------
This resolution approves the Directors' Remuneration Report,
other than the part containing the Directors' Remuneration Policy
for the financial year ended 31 December 2022. The current Directors'
Remuneration Policy was approved at the 2021 AGM. The Report
gives details of the payments and share awards made to Directors
during the year ended 31 December 2022. This resolution constituted
an advisory vote and no entitlement of a Director to remuneration
is conditional upon it.
11 Political Donations 893,887,182 99.88 1,053,618 0.12 3,699,221
------------------------------ ------------ ------ ------------ ------ ----------
The Company does not make, nor intends to make, any political
expenditure or donations. However, the Directors decided to seek
shareholders' authority for political expenditure and donations
incurred by the Company and its subsidiaries as the definition
of political expenditure and donations under the Companies Act
is very broad and could encompass activities in the normal course
of business. The authority is capped at GBP60,000 for the year
and expires at the next AGM or 30 June 2024, if earlier.
12 Authority to allot shares 894,029,107 99.49 4,602,507 0.51 8,407
------------------------------ ------------ ------ ------------ ------ ----------
Directors may only allot shares and grant rights to subscribe
for, or convert any security into, shares if authorised to do
so. This resolution allows Directors to allot ordinary shares
up to one-third of the existing share capital or two- thirds
of the existing share capital in connection with a rights issue.
This authority will expire at the conclusion of the next AGM
or 30 June 2024, if earlier.
Disapplication of pre-emption
13*** rights 883,995,569 98.39 14,466,626 1.61 177,826
------------------------------ ------------ ------ ------------ ------ ----------
This resolution permits the Directors to allot equity securities
or sell treasury shares for cash and otherwise than to existing
shareholders pro rata to their holdings up to 5% of the Company's
issued share capital as at 27 April 2023. This authority will
expire at the next AGM or 30 June 2024, if earlier.
Authority to purchase
14*** own shares 894,697,737 99.58 3,791,006 0.42 151,278
------------------------------ ------------ ------ ------------ ------ ----------
This resolution gives the Company authority to purchase its own
shares in the market up to a limit of 10% of its issued ordinary
share capital. This authority will expire at the next AGM or
30 June 2024, if earlier.
Authority to call a general
meeting not less than
15*** 14 days' notice 877,500,726 97.66 20,996,895 2.34 142,400
------------------------------ ------------ ------ ------------ ------ ----------
This resolution permits the Company to call a general meeting,
other than an Annual General Meeting, on short notice, provided
electronic voting is made available to all shareholders for that
meeting.
* Includes discretionary votes
** A vote withheld is not a vote in law and is not counted for
the purposes of the calculation of the proportion of votes 'For' or
'Against' a resolution
*** Indicates a Special Resolution
The full text of each resolution can be found in the Notice of
Meeting which is available on the Company's
website, www.enquest.com
The Company will submit to the National Storage Mechanism copies
of the Resolutions passed at the Annual General Meeting and these
will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
EnQuest remains focused on its strong balance sheet and its
ongoing deleveraging strategy. As part of this financial policy,
the Group will continue to assess funding opportunities to optimise
the capital structure and manage its debt facilities, including
engagement with sterling fixed income investors regarding a tap
issue and exchange offer related to its retail bonds, which may
follow subject to market conditions.
ENDS
For further information please contact:
EnQuest PLC Tel: +44 (0)20 7925 4900
Chris Sawyer (Company Secretary)
Notes to editors
ENQUEST
EnQuest is providing creative solutions through the energy
transition. As an independent production and development company
with operations in the UK North Sea and Malaysia, the Group's
strategic vision is to be the operator of choice for maturing and
underdeveloped hydrocarbon assets by focusing on operational
excellence, differential capability, value enhancement and
financial discipline.
EnQuest PLC trades on both the London Stock Exchange and the
NASDAQ OMX Stockholm.
Please visit our website www.enquest.com for more information on
our global operations.
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END
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