23 May
2024
Pharos
Energy plc
("Pharos"
or the "Company" or, together with its subsidiaries, the
"Group")
RESULTS OF ANNUAL GENERAL
MEETING
The Company announces that at its
Annual General Meeting held at 100 Liverpool Street, London, EC2M
2AT today, all resolutions put before the meeting were duly
passed.
In accordance with LR 9.6.2, copies
of resolutions concerning items other than ordinary business are
being submitted to the National Storage Mechanism and will shortly
be available for inspection at
https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism.
On the date of the meeting, Pharos'
issued share capital consisted of 429,040,568 ordinary shares of
£0.05 each with voting rights; 9,122,268 shares were in Treasury
and therefore, the total number of voting rights was
419,918,300.
Voting was conducted on a poll, the
results of which are shown in the table below and will shortly be
available on the Company's website, www.pharos.energy.
Resolution
|
Votes in Favour
(Including Discretionary)
|
%
|
Votes
Against
|
%
|
Total Votes
(excluding
votes withheld)
|
Votes Withheld
|
1. To receive the Annual
Report and Accounts for the financial year ended 31 December
2023.
|
173,379,189
|
99.68%
|
549,817
|
0.32%
|
173,929,006
|
299,560
|
2. To declare a final
dividend of 0.77 pence per share.
|
150,387,352
|
99.64%
|
544,817
|
0.36%
|
150,932,169
|
23,296,397
|
3. To approve the
Directors' Remuneration Report included in the Annual Report and
Accounts for the financial year ended 31 December 2023.
|
148,541,759
|
98.42%
|
2,388,177
|
1.58%
|
150,929,936
|
23,298,630
|
4. To reappoint John
Martin, who is Chair of the Nominations and ESG Committees, as a
Director
|
147,002,768
|
84.38%
|
27,220,195
|
15.62%
|
174,222,963
|
5,603
|
5. To reappoint Sue
Rivett, who is a member of the ESG Committee, as a
Director.
|
149,925,050
|
86.05%
|
24,300,533
|
13.95%
|
174,225,583
|
2,983
|
6. Resolution 6 -
withdrawn*
|
|
|
|
|
|
|
7. To reappoint Geoffrey
Green, who is Chair of the Remuneration Committee and a member of
the Audit and Risk, ESG and Nominations Committees, as a
Director.
|
146,849,619
|
84.29%
|
27,375,963
|
15.71%
|
174,225,582
|
2,984
|
8. To reappoint Lisa
Mitchell, who is Chair of the Audit and Risk Committee and a member
of the ESG, Nominations and Remuneration Committees, as a
Director.
|
148,466,766
|
85.22%
|
25,758,816
|
14.78%
|
174,225,582
|
2,984
|
9. To reappoint Dr Bill
Higgs, who is a member of the ESG Committee, as a
Director.
|
173,217,967
|
99.42%
|
1,007,616
|
0.58%
|
174,225,583
|
2,983
|
10.
To appoint Ernst & Young LLP as Auditors to
hold office until the conclusion of the next Annual General Meeting
at which accounts are laid before the Company.
|
173,670,427
|
99.68%
|
552,267
|
0.32%
|
174,222,694
|
5,872
|
11.
To authorise the Audit and Risk Committee, for and
on behalf of the Directors, to agree the Auditors'
remuneration.
|
173,564,242
|
99.62%
|
658,498
|
0.38%
|
174,222,740
|
5,826
|
12.
To authorise the Directors to allot securities
(s.551 of the Companies Act 2006).
|
149,739,455
|
99.21%
|
1,196,994
|
0.79%
|
150,936,449
|
23,292,117
|
13.
To disapply pre-emption rights (s.570 and s.573 of
the Companies Act 2006)
|
169,804,962
|
97.46%
|
4,423,604
|
2.54%
|
174,228,566
|
0
|
14.
To disapply pre-emption rights (s.570 and s.573 of
the Companies Act 2006) for acquisitions or specified capital
investments.
|
169,806,967
|
97.46%
|
4,421,599
|
2.54%
|
174,228,566
|
0
|
15.
To authorise the Company to repurchase its own
Shares (s.701 of the Companies Act 2006).
|
173,674,543
|
99.68%
|
552,007
|
0.32%
|
174,226,550
|
2,016
|
16.
To authorise the Directors to call general
meetings of the Company (other than an annual general meeting) on
not less than 14 clear days' notice.
|
150,023,309
|
99.40%
|
908,859
|
0.60%
|
150,932,168
|
23,296,398
|
* Following the Company's
announcement on 3 May 2024 that Marianne Daryabegui will retire at
the conclusion of the AGM, resolution 6, to reappoint Marianne
Daryabegui as a Director, was accordingly withdrawn at today's
AGM.
For further
information, please contact:
Pharos Energy plc
Tel: 0207 603 1515
Tony Hunter, Company
Secretary
Camarco
Tel: 020 3757 4980
Billy Clegg
| Rebecca Waterworth | Kirsty Duff | Andrew
Turner
Notes to
editors
Pharos Energy plc is an independent
oil and gas exploration and production company with a focus on
sustainable growth and returns to stakeholders, which is listed on
the London Stock Exchange. Pharos has production, development
and/or exploration interests in Egypt and Vietnam. In Egypt, Pharos
holds a 45% working interest share in the El Fayum Concession in
the Western Desert, with IPR Lake Qarun, part of the international
integrated energy business IPR Energy Group, holding the remaining
55% working interest. The El Fayum Concession produces oil from 10
fields and is located 80 km southwest of Cairo. It is operated by
Petrosilah, a 50/50 joint stock company between the contractor
parties (being IPR Lake Qarun and Pharos) and the Egyptian General
Petroleum Corporation (EGPC). Pharos also holds a 45% working
interest share in the North Beni Suef (NBS) Concession in Egypt,
which is located immediately south of the El Fayum Concession. IPR
Lake Qarun operates and holds the remaining 55% working interest in
the NBS Concession. In Vietnam, Pharos has a 30.5% working interest
in Block 16-1 which contains 97% of the Te Giac Trang (TGT) field
and is operated by the Hoang Long Joint Operating Company. Pharos'
unitised interest in the TGT field is 29.7%. Pharos also has a 25%
working interest in the Ca Ngu Vang (CNV) field located in Block
9-2, which is operated by the Hoan Vu Joint Operating Company.
Blocks 16-1 and 9-2 are located in the shallow water Cuu Long
Basin, offshore southern Vietnam. Pharos also holds a 70% interest
in, and is designated operator of, Blocks 125 & 126, located in
the moderate to deep water Phu Khanh Basin, north east of the Cuu
Long Basin, offshore central Vietnam.