SINGAPORE and PORT MORESBY, Papua New Guinea, June 14, 2016 /PRNewswire/ -- InterOil
Corporation (NYSE: IOC; POMSoX: IOC) today announced that
shareholders have overwhelmingly voted to re-elect all eight of
InterOil's director nominees and rejected all of the dissident
resolutions proposed by Phil Mulacek and certain of his
associates at InterOil's Annual and Special Meeting of Shareholders
(the "Meeting") held today. Each InterOil director nominee received
at least 72% of the votes submitted at the Meeting or by
proxy.
Commenting on the results, InterOil issued the following
statement:
We appreciate the strong support
that we have received from our shareholders throughout this
process. The results of the Meeting underscore the recognition by
our shareholders of the steps our Board and management team have
taken to transform InterOil.
Approximately 70% of the outstanding InterOil common shares were
represented at the Meeting. In addition to the election of the
Corporation's nominees as directors, each of the other proposals
presented by the Corporation at the Meeting was approved by
shareholders, including the appointment of auditors, approval of a
new incentive plan and the denial of Mulacek's expense
reimbursement. The final tabulation for the voting results is
presented below, including shares voted at the Meeting or by
proxy.
|
Director
Nominees
|
Shares Voted in
Favor
|
|
InterOil Nominee
Christopher Finlayson
|
25,074,897
|
|
InterOil Nominee Ford
Nicholson
|
25,077,279
|
|
InterOil Nominee
Michael Hession
|
25,081,569
|
|
InterOil Nominee Sir
Rabbie
Namaliu
|
25,070,018
|
|
InterOil Nominee Sir
Wilson Kamit
|
25,051,994
|
|
InterOil Nominee
(William) Ellis
Armstrong
|
25,069,626
|
|
InterOil Nominee Chee
Keong Yap
|
25,052,784
|
|
InterOil Nominee
Isikeli Taureka
|
25,066,424
|
|
Dissident Nominee
Phil E. Mulacek
|
8,165,875
|
|
Dissident Nominee
David Lasco
|
8,080,892
|
|
Dissident Nominee
David Vance
|
8,096,292
|
|
Dissident Nominee
Henry Olen
Overstreet
|
8,071,300
|
|
Dissident Nominee
George Cammon
|
8,030,019
|
|
InterOil Proposals
Presented at the Meeting
|
Shares Voted in
Favor
|
Shares Voted
Against
|
|
InterOil New Plan
Resolution
|
22,399,736
|
12,236,275
|
|
InterOil Appointment
of Auditors
|
34,262,436
|
368,552
|
|
InterOil Mulacek
Expenses Denial Resolution
|
25,938,795
|
8,692,193
|
|
Dissident
Resolutions Presented at the Meeting
|
Shares Voted in
Favor
|
Shares Voted
Against
|
|
Dissident Director
Election Resolution
|
10,916,801
|
23,716,710
|
|
Dissident
Compensation Committee Charter Resolution
|
13,487,651
|
21,145,860
|
|
Dissident Nomination
and Governance Committee Resolution
|
10,911,169
|
23,722,342
|
|
Dissident Reserves
Governance Committee Resolution
|
10,893,756
|
23,739,755
|
|
Dissident Material
Transactions Resolution
|
10,832,624
|
23,800,887
|
|
Dissident Disclosure
Policy Resolution
|
10,944,283
|
23,689,228
|
The finalized election results will be filed on SEDAR and with
the U.S. Securities and Exchange Commission.
About InterOil
InterOil Corporation is an independent oil and gas business with
a sole focus on Papua New Guinea.
InterOil's assets include one of Asia's largest undeveloped gas fields,
Elk-Antelope, in the Gulf Province, and exploration licenses
covering about 16,000sqkm. Its main offices are in Singapore and Port
Moresby. InterOil is listed on the New York and Port
Moresby stock exchanges.
Investor Contacts
|
Singapore
|
Singapore
|
United
States
|
|
Michael
Lynn
Senior Vice
President
Investor
Relations
|
David Wu
Vice
President
Investor
Relations
|
Cynthia
Black
Investor
Relations
North
America
|
|
T: +65 6507
0222
E:
michael.lynn@interoil.com
|
T: +65 6507
0222
E:
david.wu@interoil.com
|
T: +1 212 653
9778
E:
cynthia.black@interoil.com
|
Media Contacts
|
Singapore
|
United
States
|
|
Ann Lee
Communications
Specialist
|
James Golden/ Aaron
Palash
Joele Frank,
Wilkinson Brimmer Katcher
|
|
T: +65 6507
0222
E:
ann.lee@interoil.com
|
T: +1 212 355
4449
E:
ioc-jf@joelefrank.com
|
Forward Looking Statements
This release includes "forward-looking statements". All
statements, other than statements of historical facts, included in
this release are forward-looking statements. These statements are
based on the current belief of InterOil, as well as assumptions
made by, and information currently available to InterOil. No
assurances can be given however, that these events will occur.
Actual results could differ, and the difference may be material and
adverse to the combined company and its shareholders. Such
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of InterOil,
which may cause actual results to differ materially from those
implied or expressed by the forward-looking statements. These
include in particular information and statements relating to
InterOil's agreement with Oil Search and the ability to realize the
anticipated benefits and the other risk factors discussed in
InterOil's publicly available filings, including but not limited to
those in InterOil's annual report for the year ended December 31, 2015 on Form 40-F and its Annual
Information Form for the year ended December
31, 2015. InterOil disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable laws.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/interoil-shareholders-overwhelmingly-re-elect-all-of-interoils-director-nominees-300284539.html
SOURCE InterOil Corporation