Genel Energy

AGM Information • May 6, 2021

National Storage Mechanism | Additional information

Genel Energy PLC (GENL)

Genel Energy PLC: Result of AGM

06-May-2021 / 14:30 GMT/BST

Dissemination of a Regulatory Announcement, transmitted by EQS Group.

The issuer is solely responsible for the content of this announcement.

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6 May 2021

Genel Energy plc

Results of Annual General Meeting

The Annual General Meeting of Genel Energy plc was held today, Thursday, 6 May 2021, and the results of the votes by shareholders are set out below. The number of ordinary shares of £0.10p each in the Company in issue at the date of the meeting was 277,670,478 and each share attracted one vote.

Resolutions 7 and 13 to re-elect Esa Ikaheimonen and Martin Gudgeon respectively were withdrawn prior to the meeting.

The results were as follows:

Resolutions	For	%	Against	%	Withheld	Total lodged
1. To receive the audited financial statements of the Company for the year ended 31 December 2020	211,282,506	99.99%	17,258	0.01%	15,443	211,315,207
2. To declare a final distribution of 10 US cents per ordinary share for the financial year ending 31 December 2020	211,315,207	100%	0	0%	0	211,315,207
3. To approve the Remuneration Policy for Directors	111,404,413	57.94%	80,873,006	42.06%	19,037,788	211,315,207
4. To approve the Annual Report on Remuneration for the year ended 31 December 2020	129,041,748	61.07%	82,247,207	38.93%	26,252	211,315,207
5. To re-elect Mr David McManus as a Non‑Executive Director	211,015,688	99.87%	283,629	0.13%	15,890	211,315,207
6. To re-elect Dr Bill Higgs as an Executive Director	130,500,300	61.76%	80,799,017	38.24%	15,890	211,315,207
8. To re-elect Sir Michael Fallon as a Non‑Executive Director	189,955,677	99.93%	131,138	0.07%	21,228,392	211,315,207
9. To re-elect Mr Ümit Tolga Bilgin as a Non-Executive Director	189,962,201	89.91%	21,325,580	10.09%	27,426	211,315,207
10. To re-elect Mr Tim Bushall as a Non-Executive Director	211,247,269	99.98%	40,512	0.02%	27,426	211,315,207
11. To elect Ms Canan Ediboglu as Non-Executive Director	211,246,262	99.98%	41,519	0.02%	27,426	211,315,207
12. To re-elect Mr Hassan Gozal as a Non-Executive Director	190,042,339	89.94%	21,255,978	10.06%	16,890	211,315,207
14. To re-elect Mrs Nazli K Williams as a Non-Executive Director.	171,043,215	80.95%	40,255,102	19.05%	16,890	211,315,207
15. To appoint BDO as the Company's auditor	211,263,358	99.98%	50,849	0.02%	1,000	211,315,207
16. To authorise the Directors to set the Auditor's fees	211,308,445	100%	6,762	0%	0	211,315,207
17. To give the Company limited authority to make political donations and expenditure	189,659,709	90.27%	20,449,082	9.73%	4,000	210,112,791
18. To approve the Genel Energy plc 2021 Performance Share Plan (the "PSP")	111,373,656	57.92%	80,919,799	42.08%	19,021,752	211,315,207
19. To approve the Genel Energy plc 2021 Deferred Bonus Plan (the "DBP")	111,411,713	57.94%	80,888,075	42.06%	19,015,419	211,315,207
20. To authorise the Company to purchase its Ordinary Shares	211,282,961	99.99%	20,710	0.01%	11,536	211,315,207
21. To permit the Company to hold general meetings, other than an AGM, on not less than 14 clear days' notice	211,196,179	99.94%	118,578	0.06%	450	211,315,207

Following the approval of resolution 2, Genel confirms the payment of a final dividend of 10¢ per share in relation to the 2018 financial year. The final dividend payment timetable is below:

• Ex-dividend date: 13 May 2021
• Record Date: 14 May 2021
• Payment Date: 14 June 2021

The Board of Directors notes that, although resolutions 3, 4, 6, 18, and 19 were passed with the requisite majority, c.40% of votes were cast against them. The Board will take note of the voting and engage with shareholders. The Board continues to support Bill Higgs as he successfully delivers the Company strategy and creates value for all shareholders.

The full text of the resolutions may be found in the Notice of the Annual General Meeting, copies of which are available on both the Company's website www.genelenergy.com and on the National Storage Mechanism https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

A copy of the special resolutions (resolutions 20 and 21) passed at the Annual General Meeting, have been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. 

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For further information, please contact:

Genel Energy Andrew Benbow, Head of Communications	+44 20 7659 5100
Vigo Communications Patrick d'Ancona	+44 20 7830 9700

Notes to editors:

Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production from the Sarta, Taq Taq, and Tawke licences in the Kurdistan Region of Iraq, providing financial resilience that allows investment in growth and the payment of a material and sustainable dividend, even at a low oil price. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.

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ISIN:	JE00B55Q3P39, NO0010894330
Category Code:	RAG
TIDM:	GENL
LEI Code:	549300IVCJDWC3LR8F94
Sequence No.:	103551
EQS News ID:	1193556

End of Announcement	EQS News Service

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