("REL" or the "Company")
Results of the Annual General Meeting ("AGM")
The Company is pleased to announce that, at the Sixth AGM held at
The details of each resolution are as follows:
ORDINARY RESOLUTIONS
Resolution 1
IT WAS RESOLVED to receive and consider the annual audited financial statements of the Company for the year ended 31 December 2018.
For (including discretionary) | 62,206,834 votes |
Against | 23,702 votes |
Withheld | 0 votes |
Resolution 2
IT WAS RESOLVED to re-appoint
For (including discretionary) | 62,229,131 votes |
Against | 0 votes |
Withheld | 1,405 votes |
Resolution 3
IT WAS RESOLVED that the Board of Directors determine the remuneration of the Auditor.
For (including discretionary) | 62,230,536 votes |
Against | 0 votes |
Withheld | 0 votes |
Resolution 4
IT WAS RESOLVED to re-elect Peter Barker as a director.
For (including discretionary) | 60,763,851 votes |
Against | 1,059,869 votes |
Withheld | 406,816 votes |
Resolution 5
IT WAS RESOLVED to re-elect Patrick Firth as a director.
For (including discretionary) | 60,526,514 votes |
Against | 1,297,206 votes |
Withheld | 406,816 votes |
Resolution 6
IT WAS RESOLVED to re-elect Richard Hayden as a director.
For (including discretionary) | 59,618,066 votes |
Against | 2,205,654 votes |
Withheld | 406,816 votes |
Resolution 7
IT WAS RESOLVED to re-elect Pierre F. Lapeyre as a director.
For (including discretionary) | 60,738,744 votes |
Against | 1,084,976 votes |
Withheld | 406,816 votes |
Resolution 8
IT WAS RESOLVED to re-elect David M. Leuschen as a director.
For (including discretionary) | 60,738,744 votes |
Against | 1,084,976 votes |
Withheld | 406,816 votes |
Resolution 9
IT WAS RESOLVED to re-elect Kenneth Ryan as a director.
For (including discretionary) | 60,738,744 votes |
Against | 1,084,976 votes |
Withheld | 406,816 votes |
Resolution 10
IT WAS RESOLVED to re-elect Jeremy Thompson as a director.
For (including discretionary) | 60,763,851 votes |
Against | 1,059,869 votes |
Withheld | 406,816 votes |
Resolution 11
IT WAS RESOLVED to re-elect Claire Whittet as a director.
For (including discretionary) | 60,581,455 votes |
Against | 1,242,265 votes |
Withheld | 406,816 votes |
In accordance with LR 9.6.18, details of those resolutions passed, which were not ordinary business of the AGM, follow:-
Resolution | Votes For (including discretionary) | Votes Against | Votes Withheld* |
12 - Special | 62,230,057 votes | 129 votes | 350 votes |
13 - Special | 58,265,483 votes | 3,964,703 votes | 350 votes |
*A vote withheld is not a vote in law and is therefore not counted towards the proportion of votes "for" or "against" the Resolution.
Resolution 12 That the Company be and is hereby generally and unconditionally authorised in accordance with the Companies (Guernsey) Law, 2008, as amended (the "Companies Law") (subject to the Listing Rules made by the UK Listing Authority and all other applicable legislation and regulations), to make market acquisitions (as defined in the Companies Law) of each class of its shares (either for the retention as treasury shares for resale or transfer, or cancellation), PROVIDED THAT: |
a. the maximum number of shares authorised to be purchased shall be 11,976,520 Ordinary Shares (as defined in the Company's articles of incorporation (the "Articles") (being 14.99 per cent. of the Ordinary Shares in issue (excluding shares held in treasury) as at the latest practicable date prior to the date of publication of this document);
b. the minimum price (exclusive of expenses) which may be paid for an Ordinary Share shall be one penny;
c. the maximum price which may be paid for an Ordinary Share is an amount equal to the higher of: (a) 105 per cent. of the average of the middle market quotations for an Ordinary Share on the relevant market for the five business days immediately preceding the date on which the Ordinary Share is purchased; and (b) the higher of (i) the price of the last independent trade for an Ordinary Share and (ii) the highest current independent bid for an Ordinary Share at the time of purchase; and
d. he authority hereby conferred shall expire at the next annual general meeting of the Company due to be held in 2020 unless such authority is varied, revoked or renewed prior to such date by a special resolution of the Company in a general meeting save that the Company may make an offer or agreement to acquire shares under this authority before its expiry which will or may be executed wholly or partly after its expiration and the Company may make an acquisition of shares pursuant to such an offer or agreement as if the authority had not expired.
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Resolution 13 That, in accordance with Article 6.7 of the Articles, the Directors be empowered to allot and issue (or sell from treasury) equity securities (within the meaning of the Company's Articles) for cash on a non-preemptive basis as if Article 6.2 of the Articles did not apply to any such allotment and issue, provided that this power shall be limited to the allotment and issue of (i) up to a maximum number of equity securities equal to 7,989,673 Ordinary Shares in the Company (being 10 per cent. of the Ordinary Shares in issue as at the latest practicable date prior to the date of this notice) and (ii) an unlimited number of Ordinary Shares in accordance with the Performance Allocation Reinvestment Agreement dated
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- ENDS -
About
REL is a closed-ended investment company that invests exclusively in the global energy industry across all sectors. REL aims to capitalise on the opportunities presented by Riverstone's energy investment platform. REL is a member of the FTSE 250 and its ordinary shares are listed on the
For further details, see www.RiverstoneREL.com
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