Results of Annual General Meeting 8 May 2025
Annual General Meeting held; all resolutions passed though several received substantial opposing votes.
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08-May-2025 / 12:04 GMT/BST
Genel Energy plc
Results of Annual General Meeting 8 May 2025
The Annual General Meeting of Genel Energy plc was held today, Thursday, 8 May 2025 and the results of the votes by shareholders are set out below. All resolutions were duly passed on a poll.
The number of ordinary shares of £0.10p each in the Company in issue on 6 May 2025 (the voting record date) was 279,402,863 and each share attracted one vote.
The results of the poll on each resolution were as follows:
| Resolutions | For | % | Against | % | Total votes | Votes withheld |
|---|---|---|---|---|---|---|
| To receive the audited financial statements of the Company for the year ended 31 December 2024 | 198,426,275 | 90.14% | 21,706,098 | 9.86% | 220,132,373 | 12,185 |
| To approve the Annual Report on Remuneration for the year ended 31 December 2024 | 147,200,909 | 67.07% | 72,272,478 | 32.93% | 219,473,387 | 671,171 |
| To re-elect Mr David McManus as a Non ‑ Executive Director | 170,446,309 | 77.46% | 49,601,172 | 22.54% | 220,047,481 | 97,077 |
| To re-elect Mr Paul Weir as an Executive Director | 170,573,977 | 77.49% | 49,556,534 | 22.51% | 220,130,511 | 14,047 |
| To re-elect Mr Ümit Tolga Bilgin as a Non-Executive Director | 147,784,245 | 67.13% | 72,346,266 | 32.87% | 220,130,511 | 14,047 |
| To elect Sir Dominick Chilcott as a Non-Executive Director | 169,749,319 | 77.14% | 50,313,162 | 22.86% | 220,062,481 | 82,077 |
| To re-elect Ms Canan Ediboglu as Non-Executive Director | 170,018,859 | 77.26% | 50,028,622 | 22.74% | 220,047,481 | 97,077 |
| To re-elect Mr Yetik K. Mert as a Non-Executive Director | 168,930,798 | 76.76% | 51,131,683 | 23.24% | 220,062,481 | 82,077 |
| To re-appoint BDO LLP as the Company’s auditor | 198,379,524 | 90.12% | 21,752,483 | 9.88% | 220,132,007 | 12,551 |
| To authorise the Directors to set the Auditor’s fees | 149,239,142 | 67.80% | 70,892,865 | 32.20% | 220,132,007 | 12,551 |
| To give the Company limited authority to make political donations and expenditure | 148,178,605 | 67.31% | 71,962,868 | 32.69% | 220,141,473 | 3,085 |
| To authorise the Company to purchase its Ordinary Shares | 149,009,157 | 67.69% | 71,130,516 | 32.31% | 220,139,673 | 4,885 |
| To permit the Company to hold general meetings, other than an AGM, on not less than 14 clear days’ notice | 198,348,302 | 90.10% | 21,782,071 | 9.90% | 220,130,373 | 14,185 |
The Board of Directors notes that, although resolutions 2 to 8, 10, 11 and 12 were passed with the requisite majority, substantial votes were cast against each of these resolutions. The Board will take note of the voting and engage with shareholders to further understand the reasons for the significant vote against such resolutions.
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 12 and 13) 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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