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RNS Number : 7644S
Tullow Oil PLC
18 March 2021
TULLOW OIL PLC
SHAREHOLDER APPROVAL
18 March 2021 - Tullow Oil plc (Tullow) announces that at its
General Meeting held earlier today, the resolution set out in the
Notice of General Meeting put to the General Meeting seeking
approval for the proposed sale of the entire issued share capital
of Tullow Equatorial Guinea Limited (the "Transaction"), as
described in the circular to shareholders dated 2 March 2021 (the
"Circular") was passed by the requisite majority. The resolution
put to the General Meeting was voted on by way of a poll and the
results are set out below.
The resolution which was adopted earlier today is the final
condition which is required to be fulfilled to complete the
Transaction. Tullow and Panoro intend to proceed to completion
within the coming weeks.
Votes FOR % Votes % Votes TOTAL % of ISC Votes WITHHELD
AGAINST voted
================== ============ ======= ========= ===== ============ ============ =====================
T o approve
the Transaction 744,803,881 99.98% 124,673 0.02 744,928,554 52.43 111,038
================== ============ ======= ========= ===== ============ ============ =====================
Notes:
(1) Proxy appointments which gave discretion to the Chair of the
General Meeting have been included in the "For" total of the
resolution.
(2) A "Vote Withheld" is not a vote in law and is not counted in
the calculation of the proportion of votes "For" or "Against" the
resolution, nor in the calculation of the proportion of "Percentage
of ISC voted" for the resolution.
(3) The percentage of votes "For" and "Against" the resolution
is expressed as a percentage of votes validly cast for the
resolution.
(4) The number of shares in issue at at 8.00 p.m. on 16 March
2021 (being the voting record date for the General Meeting) was
1,420,675,633 ordinary shares of 10 pence each (the "Ordinary
Shares") and at that time, Tullow did not hold any Ordinary Shares
in treasury. The proportion of "Percentage of ISC voted" for the
resolution is the total of votes "For" and "Against" in respect of
the resolution expressed as a percentage of the ISC as described in
this note (4).
(5) In accordance with LR 9.6.2, a copy of the resolution passed
at the meeting has been submitted to the FCA's National Storage
Mechanism, and will shortly be available to view at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism. The full
text of the resolution passed at the General Meeting can be found
in the Notice of General Meeting forming part of the Circular,
which is available for inspection at the National Storage Mechanism
and also on the Company's website at http://www.tullowoil.com.
For further information, contact:
Tullow Oil plc Murrays
(London) (Dublin)
(+44 20 3249 9000) (+353 1 498 0300)
Chris Perry, Matthew Evans (Investors) Pat Walsh
George Cazenove (Media) Joe Heron
======================================== ===================
Notes to editors
Tullow is an independent oil & gas, exploration and
production group which is quoted on the London, Irish and Ghanaian
stock exchanges (symbol: TLW) and is a constituent of the FTSE250
index. The Group has interests in over 50 exploration and
production licences across 11 countries including Ghana where it
operates the Jubilee and TEN fields. In March 2021, Tullow
committed to becoming Net Zero on its Scope 1 and 2 emissions by
2030.
For further information, please refer to our website at
www.tullowoil.com
Follow Tullow on:
Twitter: www.twitter.com/TullowOilplc
YouTube: www.youtube.com/TullowOilplc
Facebook: www.facebook.com/TullowOilplc
LinkedIn: www.linkedin.com/company/Tullow-Oil
THIS ANNOUNCEMENT IS AN ANNOUNCEMENT AND NOT A CIRCULAR OR
PROSPECTUS OR EQUIVALENT DOCUMENT AND PROSPECTIVE INVESTORS SHOULD
NOT MAKE ANY INVESTMENT DECISION ON THE BASIS OF ITS CONTENTS.
NOTHING IN THIS ANNOUNCEMENT CONSTITUTES AN OFFER OF SECURITIES FOR
SALE IN ANY JURISDICTION. SHAREHOLDERS ARE ADVISED TO CAREFULLY
READ THE CIRCULAR.
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF THAT JURISDICTION. THE DISTRIBUTION OF THIS
ANNOUNCEMENT IN JURISDICTIONS OTHER THAN THE UNITED KINGDOM,
IRELAND AND GHANA MAY BE RESTRICTED BY LAW AND THEREFORE PERSONS
INTO WHOSE POSSESSION THIS ANNOUNCEMENT COMES SHOULD INFORM
THEMSELVES ABOUT, AND OBSERVE, SUCH RESTRICTIONS. ANY FAILURE TO
COMPLY WITH THE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE
SECURITIES LAWS OF ANY SUCH JURISDICTION.
This announcement and the Circular include statements that are,
or may deemed to be, "forward-looking statements" within the
meaning of the securities laws of certain jurisdictions. These
forward-looking statements can be identified by the use of
forward-looking terminology, such as "anticipate", "expect",
"suggests", "plan", "believe", "intend", "estimates", "targets",
"projects", "should", "could", "would", "may", "will", "forecast"
and other similar expressions or, in each case, their negative or
other variations or comparable terminology. These forward-looking
statements include all matters that are not historical facts. They
appear in a number of places throughout this announcement and the
Circular and include statements regarding Tullow's or the Tullow
directors' plans, estimates, intentions, beliefs or current
expectations concerning, among other things, the Transaction,
Tullow's exploration and development plans and the timing and cost
thereof, future production levels and volumes, future operating
cost levels, the grant and timing of future governmental or
commercial or joint venture partner approvals or consents, future
portfolio management plans, the Group's liquidity, financing costs
and reserve base redeterminations, the timing, outcome and
potential scope of liability in any litigation, proceedings or
other disputes and Tullow's business, financial condition, results
of operations and/or prospects and/or the industry in which the
Group operates more generally.
Forward-looking statements are not guarantees of future
performance and the Group's actual business, financial condition,
results of operations and/or prospects and/or the development of
the industry in which it operates, may differ materially from those
made in or suggested by the forward-looking statements contained in
this announcement and the Circular. In addition, even if the
Group's business, financial condition, results of operations and/or
prospects and/or the development of the industry in which it
operates, are consistent with the forward-looking statements
contained in this announcement and the Circular, those results or
developments may not be indicative of results or developments in
subsequent periods.
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END
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