Result of General Meeting
Pennpetro Energy Plc announced the results of its General Meeting, where Ordinary Resolution 1, granting authority to allot shares, was passed with 27,983,513 votes for and 24,450,872 against, representing 53.37% in favour. However, Special Resolution 2, concerning the disapplication of pre-emption rights, failed to pass, receiving 27,937,738 votes for and 24,511,647 against, falling short of the required 75% majority.
Select text to share a quote on X · sign in to keep highlights & notes in your PPP notes
Pennpetro Energy plc (LSE: PPP), the company focused on developing strategic traditional and transition energy projects, announces the results of its General Meeting held earlier today. Voting was by way of a poll.
The following table shows the votes cast on each resolution:
| Resolution* | Votes For | % | Votes Against | % | Votes Withheld | |
|---|---|---|---|---|---|---|
| 1. | Authority to allot shares | 27,983,513 | 53.37% | 24,450,872 | 46.63% | 91,841 |
| 2. | Disapplication of pre-emption rights ** | 27,937,738 | 53.27% | 24,511,647 | 46.73% | 76,841 |
* The full text of the resolutions is given in the Notice of GM which is available at https://pennpetroenergy.co.uk/notices-%26-reports
** Indicates a Special Resolution requiring a 75% majority of the votes cast.
Accordingly, Ordinary Resolution 1 was duly passed. Special Resolution 2 was not passed.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.