TIDMPMO
RNS Number : 4615F
Premier Oil PLC
17 May 2017
PREMIER OIL PLC
Result of Annual General Meeting
The Annual General Meeting ("AGM") of Premier Oil plc (the
"Company") was held today, 17 May 2017, 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. Furthermore, following the retirement of
Joe Darby from the Board, Jane Hinkley has been appointed Senior
Independent Director of the Company with effect from the conclusion
of the AGM. Jane will also continue to chair the Company's
Remuneration Committee.
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 Annual Report and Accounts 143,012,120 99.34 945,916 0.66 54,136
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
2 Remuneration Policy 126,747,108 88.18 16,991,271 11.82 273,793
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
3 Annual Report on Remuneration 99,381,186 69.51 43,595,136 30.49 1,035,850
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
4 Re-elect Robin Allan 143,213,985 99.49 736,528 0.51 61,659
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
5 Re-elect Anne Marie Cannon 142,482,858 98.98 1,467,206 1.02 62,108
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
6 Re-elect Tony Durrant 143,043,672 99.37 903,013 0.63 65,487
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
7 Re-elect Jane Hinkley 142,228,542 98.80 1,722,304 1.20 60,380
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
8 Re-elect Iain Macdonald 143,414,415 99.64 520,580 0.36 62,414
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
9 Re-elect Richard Rose 143,305,320 99.56 627,962 0.44 63,181
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
10 Re-elect Mike Welton 143,184,349 99.47 765,901 0.53 61,922
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
11 Appoint Ernst & Young LLP as Auditor 143,174,768 99.44 811,050 0.56 26,354
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
12 Auditor remuneration 142,531,224 98.99 1,447,560 1.01 31,748
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
Authorise Company to make political
13 donations 139,067,534 96.64 4,841,906 3.36 102,732
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
14 Authorise Directors to allot shares 142,451,098 98.96 1,494,656 1.04 66,418
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
15 Approve the Premier Oil 2017 Long Term 124,971,037 86.92 18,804,240 13.08 236,895
Incentive Plan
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
16 Authority to disapply pre-emption rights 143,320,399 99.59 592,216 0.41 99,557
(up to 5% of issued share capital) (c)
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
17 Authority to disapply pre-emption rights 142,038,754 98.69 1,887,806 1.31 85,612
in connection with specific acquisition/
investment
(further 5% of issued share capital) (c)
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
18 Authority to purchase own shares (c) 140,491,940 97.56 3,510,052 2.44 20,180
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
19 Notice period for General Meetings (c) 139,966,920 97.21 4,010,610 2.79 34,642
---- ------------------------------------------- -------------- ------ -------------- ------ -------------------
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 3 to approve the remuneration
report has received a significant number of votes cast against it
(43,595,136 votes, 30.49% of votes validly cast). The Committee
will now analyse the voting outcome and will continue to engage
with major shareholders to more fully understand their
perspectives, as appropriate. We thank those shareholders who have
spoken with us to explain their reasons for voting against the
Resolution. The Remuneration Committee is committed to continuing
dialogue with shareholders to help shape the implementation of our
Remuneration Policy over the coming years.
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 15 May 2016, the deadline
for casting votes by proxy in advance of the AGM, was 510,824,261
shares. 28.19% 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: 020 7730 1111
Company Secretariat:
Daniel Rose
Investor Relations:
Elizabeth Brooks
This information is provided by RNS
The company news service from the London Stock Exchange
END
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