TIDMGKP
RNS Number : 5420Q
Gulf Keystone Petroleum Ltd.
19 June 2020
19 June 2020
Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone", "GKP" or "the Company")
Result of Annual General Meeting
The Board of Gulf Keystone is pleased to announce that all the
resolutions proposed at the Company's Annual General Meeting
("AGM") held today at 10am (local time) in Amsterdam, were duly
passed by shareholders.
The results of the AGM are as follows:
RESOLUTION VOTES FOR % VOTES % VOTES TOTAL % of VOTES WITHHELD
AGAINST ISC
VOTED
1. THAT Deloitte
LLP be re-appointed
as the Company's
auditor to hold
office from the
close of this meeting
until the close
of the Company's
next annual general
meeting and that
the Board of Directors
be authorised to
determine the auditor's
remuneration. 119,640,191 98.99 1,223,766 1.01 120,864,092 57.45 135
------------ ------ ----------- ------ ------------ ------- ---------------
2. THAT Mr Jaap
Huijskes, be and
is hereby re-appointed
as a Director in
accordance with
the Bye-laws. 85,958,769 71.12 34,904,969 28.88 120,864,092 57.45 354
------------ ------ ----------- ------ ------------ ------- ---------------
3. THAT Mr Martin
Angle, be and is
hereby re-appointed
as a Director in
accordance with
the Bye-laws. 115,991,572 95.97 4,872,166 4.03 120,864,092 57.45 354
------------ ------ ----------- ------ ------------ ------- ---------------
4. THAT Mr David
Thomas, be and is
hereby re-appointed
as a Director in
accordance with
the Bye-laws. 116,438,068 96.34 4,425,670 3.66 120,864,092 57.45 354
------------ ------ ----------- ------ ------------ ------- ---------------
5. THAT Mr Jón
Ferrier, be and
is hereby re-appointed
as a Director in
accordance with
the Bye-laws. 86,698,614 71.73 34,165,124 28.27 120,864,092 57.45 354
------------ ------ ----------- ------ ------------ ------- ---------------
6. THAT Ms Kimberley
Wood, be and is
hereby re-appointed
as a Director in
accordance with
the Bye-laws. 116,008,081 95.98 4,855,657 4.02 120,864,092 57.45 354
------------ ------ ----------- ------ ------------ ------- ---------------
7. THAT Mr Ian Weatherdon
be and is hereby
appointed as a Director
in accordance with
the Bye-laws. 120,420,939 99.63 442,799 0.37 120,864,092 57.45 354
------------ ------ ----------- ------ ------------ ------- ---------------
8. THAT the Directors'
Remuneration Report
as set out in the
Annual Report for
the year ended 31
December 2019 be
and is hereby approved. 84,095,030 69.58 36,768,858 30.42 120,864,092 57.45 204
------------ ------ ----------- ------ ------------ ------- ---------------
9. THAT the Company
be generally and
unconditionally
authorised to make
market purchases
of its Common Shares
in such manner as
the Directors shall
from time to time
determine, provided
that: i. the maximum
aggregate number
of Common Shares
hereby authorised
to be purchased
is 22,942,956 (representing
approximately 10%
of the aggregate
issued common share
capital of the Company);
ii. the minimum
price (exclusive
of any expenses)
which may be paid
for a Common Share
is its nominal value;
and the maximum
price (exclusive
of any expenses)
which may be paid
for a Common Share
is not more than
the higher of: (a)
an amount equal
to 5% above the
average of the middle
market quotations
of the Common Shares
in the Company (as
derived from the
London Stock Exchange
Daily Official List)
for the five business
days immediately
preceding the date
on which that Common
Share is contracted
to be purchased;
and (b) an amount
equal to the higher
of: i. the price
of the last independent
trade of a Common
Share; and ii. the
highest current
independent bid
for a Common Share
on the London Stock
Exchange at the
time the purchase
is carried out,
as derived from
the London Stock
Exchange Trading
System; iii. such
authority shall
expire (unless otherwise
renewed, varied
or revoked by the
Company in a general
meeting) at the
conclusion of the
AGM of the Company
in 2021 except that
the Company may
at any time prior
to the expiry of
such authority make
a contract or contracts
to purchase Common
Shares which will
or might be completed
or executed wholly
or partly after
the expiration of
such authority and
may make a purchase
of Common Shares
in pursuance of
any such contract
or contracts and
may hold as Treasury
Shares any Common
Shares purchased
pursuant to the
authority conferred
in this resolution. 119,564,698 99.93 78,638 0.07 120,864,092 57.45 1,220,756
------------ ------ ----------- ------ ------------ ------- ---------------
10. That the amendments
to the rules of
the Long Term Incentive
Plan 2014, in the
form produced to
the AGM and initialled
by the Chairman
for the purposes
of identification,
be and are hereby
approved. 119,326,793 98.76 1,504,066 1.24 120,864,092 57.45 33,233
------------ ------ ----------- ------ ------------ ------- ---------------
The Board notes that Resolutions 2, 5, and 8 were duly passed
but did not attain the support of 80% of shareholders who voted. In
accordance with provision 4 of the 2018 UK Corporate Governance
Code, the Board will consult and engage with shareholders as
appropriate. The Company will provide an update within six months
of the AGM, in accordance with the 2018 UK Corporate Governance
Code.
Gulf Keystone currently has 19,059,064 common shares held in
treasury. The Company has resolved to cancel all treasury shares,
save for 1,000,000, which will be used to satisfy historical vested
share options. The Company continues to have 210,370,502 common
shares in issue with voting rights.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
Enquiries:
Celicourt Communications: + 44(0) 20 8434 2754
Mark Antelme
Jimmy Lea
or visit: www.gulfkeystone.com
Notes to Editors:
Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent
operator and producer in the Kurdistan Region of Iraq. Further
information on Gulf Keystone is available on its website
www.gulfkeystone.com
Disclaimer
This announcement contains certain forward-looking statements
that are subject to the risks and uncertainties associated with the
oil & gas exploration and production business. These statements
are made by the Company and its Directors in good faith based on
the information available to them up to the time of their approval
of this announcement but such statements should be treated with
caution due to inherent risks and uncertainties, including both
economic and business factors and/or factors beyond the Company's
control or within the Company's control where, for example, the
Company decides on a change of plan or strategy. This announcement
has been prepared solely to provide additional information to
shareholders to assess the Group's strategies and the potential for
those strategies to succeed. This announcement should not be relied
on by any other party or for any other purpose.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
RAGSFEFEUESSEEM
(END) Dow Jones Newswires
June 19, 2020 08:30 ET (12:30 GMT)
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