Energean PLC Result of General Meeting (7388P)
19 February 2021 - 10:00PM
UK Regulatory
TIDMENOG
RNS Number : 7388P
Energean PLC
19 February 2021
Energean plc
("Energean" or the "Company")
Results of General Meeting
London, 19 February 2021 - Energean plc (LSE: ENOG, TASE: ), the
gas producer focused on the Mediterranean, today announces that, at
its General Meeting ("GM") held today at its registered office, the
resolutions put before the meeting were duly passed.
In accordance with Listing Rule 9.6.18 copies of all resolutions
passed, other than ordinary business, will be submitted to the UK
Listing Authority. Copies will be available at the National Storage
Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
.
Details of the votes cast (including the proxy voting
appointments and associated instructions received prior to the
meeting) in respect of the two resolutions set out in the Notice of
General Meeting are shown in the table below and will shortly be
available on the Company's website, www.energean.com .
RESOLUTION VOTES FOR VOTES VOTES % of ISSUED VOTES
AGAINST TOTAL SHARE CAPITAL WITHHELD
VOTED
No. % No. %
-------------- ------ ------- -----
1. APPROVE
ACQUISITION 150,407,839 100 0 0 150,407,839 84.93 413
-------------- ------ ------- ----- -------------- --------------- ----------
2. ALLOT
EQUITY SECURITIES 150,308,574 99.93 99,265 0.07 150,407,839 84.93 413
-------------- ------ ------- ----- -------------- --------------- ----------
Enquiries
Investors and Analysts
Kate Sloan, Head of IR Tel: +44 07917 608 645
and ECM
Media
Sotiris Chiotakis, Media Relations Tel: +30 693 2663 877
About Energean plc
Established in 2007, Energean is a London Premium Listed FTSE
250 and Tel Aviv 35 Listed E&P company with operations in nine
countries across the Mediterranean and UK North Sea. Since IPO in
2018, Energean has grown to become the leading independent,
gas-focused E&P company in the Eastern Mediterranean, with a
strong production and development growth profile. The Company
explores and invests in new ideas, concepts and solutions to
produce and develop energy efficiently, at low cost and with a
minimal carbon footprint.
Energean's production comes mainly from the Abu Qir field in
Egypt, as well as fields in Southern Europe and the UK. The
company's flagship project is the 3.5 Tcf Karish, Karish North and
Tanin development, offshore Israel, where it intends to use the
newbuild fully-owned FPSO Energean Power, which will be the only
FPSO in the Eastern Mediterranean, to produce first gas, commencing
4Q-2021. Energean has signed firm contracts for 7.4 Bcm/yr of gas
sales into the Israeli domestic market, which have floor pricing,
take-or-pay and/or exclusivity provisions that largely insulate the
project's revenues against global commodity price fluctuations and
underpin Energean's goal of paying a meaningful and sustainable
dividend.
With a strong track record of growing reserves and resources,
Energean is focused on maximising production from its large-scale
gas-focused portfolio to deliver material free cash flow and
maximise total shareholder return in a sustainable way. ESG and
health and safety are paramount to Energean; it aims to run safe
and reliable operations, whilst targeting carbon-neutrality across
its operations by 2050. These aspirations were significantly
advanced with the completion of the Edison E&P acquisition in
December 2020, which is now being successfully integrated into
Energean's business. The Company expects to enhance its Israeli
position in 2021 through the acquisition of Kerogen Capital's 30%
holding in Energean Israel for a total consideration of $380-405
million. Following the passing of the above resolutions, this
acquisition is expected to close in 1Q 2021. www.energean.com
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