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| Date | 25 May 2023 |
| Time | 17:19:12 |
| Category | AGMs and other meetings |
| ID | 7227A |
25 May 2023
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 Storey Club, 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 440,188,180 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 431,065,912.
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 2022. |
201,744,668 |
99.99% |
17,659 |
0.01% |
201,762,327 |
35,032,731 |
|
2. To declare a final dividend of 1 pence per share. |
202,049,031 |
85.33% |
34,746,027 |
14.67% |
236,795,058 |
0 |
|
3. To approve the Directors' Remuneration Policy included in the Annual Report and Accounts for the financial year ended 31 December 2022. |
200,307,051 |
84.59% |
36,478,777 |
15.41% |
236,785,828 |
9,230 |
|
4. To approve the Directors' Remuneration Report included in the Annual Report and Accounts for the financial year ended 31 December 2022. |
200,237,478 |
84.58% |
36,498,967 |
15.42% |
236,736,445 |
58,613 |
|
5. To reappoint John Martin, who is Chair of the Nominations and ESG Committees, as a Director |
231,004,568 |
97.56% |
5,789,415 |
2.44% |
236,793,983 |
1,075 |
|
6. To reappoint Jann Brown, who is a member of the ESG and Nominations Committees, as a Director. |
199,786,575 |
84.37% |
37,001,108 |
15.63% |
236,787,683 |
7,375 |
|
7. To reappoint Marianne Daryabegui, who is a member of the who is a member of the Audit and Risk, ESG, Nominations and Remuneration Committees, as a Director. |
201,713,840 |
85.19% |
35,073,843 |
14.81% |
236,787,683 |
7,375 |
|
8. 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. |
198,097,821 |
84.24% |
37,064,272 |
15.76% |
235,162,093 |
1,632,965 |
|
9. 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. |
199,799,581 |
84.38% |
36,988,902 |
15.62% |
236,788,483 |
6,575 |
|
10. To reappoint Sue Rivett, who is a member of the ESG Committee, as a Director. |
199,799,581 |
84.38% |
36,988,902 |
15.62% |
236,788,483 |
6,575 |
|
11. To reappoint Deloitte LLP as Auditors to hold office until the conclusion of the next Annual General Meeting at which accounts are laid before the Company. |
234,331,058 |
98.96% |
2,461,109 |
1.04% |
236,792,167 |
2,891 |
|
12. To authorise the Audit and Risk Committee, for and on behalf of the Directors, to agree the Auditors' remuneration. |
202,009,136 |
99.97% |
52,326 |
0.03% |
202,061,462 |
34,733,596 |
|
13. To authorise the Directors to allot securities (s.551 of the Companies Act 2006). |
201,418,918 |
85.07% |
35,340,141 |
14.93% |
236,759,059 |
35,999 |
|
14. To disapply pre-emption rights (s.570 and s.573 of the Companies Act 2006) |
197,304,289 |
97.65% |
4,757,321 |
2.35% |
202,061,610 |
34,733,448 |
|
15. To disapply pre-emption rights (s.570 and s.573 of the Companies Act 2006) for acquisitions or specified capital investments. |
197,306,294 |
97.65% |
4,754,669 |
2.35% |
202,060,963 |
34,734,095 |
|
16. To authorise the Company to repurchase its own Shares (s.701 of the Companies Act 2006). |
236,776,060 |
99.99% |
16,335 |
0.01% |
236,792,395 |
2,663 |
|
17. 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. |
236,552,421 |
99.90% |
242,637 |
0.10% |
236,795,058 |
0 |
For further information, please contact:
Pharos Energy plc Tel: 0207 603 1515
Tony Hunter, Company Secretary
Camarco Tel: 020 3757 4980
Billy Clegg | Georgia Edmonds | Rebecca Waterworth | Kirsty Duff
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.