TIDMGKP

RNS Number : 4270C

Gulf Keystone Petroleum Ltd.

18 June 2021

18 June 2021

Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone", "GKP" or "the Company")

Result of Annual General Meeting

The Board of Gulf Keystone is pleased to announce that all the resolutions proposed at the Company's Annual General Meeting ("AGM") held today at 10am (local time) in Amsterdam, were duly passed by shareholders.

The results of the AGM are as follows:

 
 RESOLUTION                          VOTES FOR     %        VOTES        %       VOTES TOTAL   % of     VOTES WITHHELD 
                                                             AGAINST                            ISC 
                                                                                                VOTED 
      1. THAT Deloitte 
       LLP be re-appointed 
       as the Company's 
       auditor to hold 
       office from the 
       close of this meeting 
       until the close 
       of the Company's 
       next annual general 
       meeting and that 
       the Board of Directors 
       be authorised to 
       determine the auditor's 
       remuneration.                 103,885,383   99.31    717,671      0.69    104,603,054   48.94    15,035 
                                    ------------  -------  -----------  ------  ------------  -------  --------------- 
      2. THAT Mr Jaap 
       Huijskes, be and 
       is hereby re-appointed 
       as a Director in 
       accordance with 
       the Bye-laws.                 68,004,521    65.04    36,556,830   34.96   104,561,351   48.92    56,738 
                                    ------------  -------  -----------  ------  ------------  -------  --------------- 
      3. THAT Mr Martin 
       Angle, be and is 
       hereby re-appointed 
       as a Director in 
       accordance with 
       the Bye-laws.                 102,642,675   98.17    1,918,676    1.83    104,561,351   48.92    56,738 
                                    ------------  -------  -----------  ------  ------------  -------  --------------- 
      4. THAT Mr David 
       Thomas, be and is 
       hereby re-appointed 
       as a Director in 
       accordance with 
       the Bye-laws.                 103,299,529   98.79    1,261,822    1.21    104,561,351   48.92    56,738 
                                    ------------  -------  -----------  ------  ------------  -------  --------------- 
      5. THAT Ms Kimberley 
       Wood, be and is 
       hereby re-appointed 
       as a Director in 
       accordance with 
       the Bye-laws.                 87,712,692    83.89    16,848,659   16.11   104,561,351   48.92    56,738 
                                    ------------  -------  -----------  ------  ------------  -------  --------------- 
      6. THAT Mr Ian Weatherdon, 
       be and is hereby 
       re-appointed as 
       a Director in accordance 
       with the Bye-laws.            71,864,836    68.73    32,693,871   31.27   104,558,707   48.92    59,382 
                                    ------------  -------  -----------  ------  ------------  -------  --------------- 
      7. THAT Mr Garrett 
       Soden be and is 
       hereby appointed 
       as a Director in 
       accordance with 
       the Bye-laws.                 100,364,849   95.99    4,196,492    4.01    104,561,341   48.92    56,748 
                                    ------------  -------  -----------  ------  ------------  -------  --------------- 
      8. THAT Mr Jon Harris 
       be and is hereby 
       appointed as a Director 
       in accordance with 
       the Bye-laws.                 104,459,486   99.90    101,855      0.10    104,561,341   48.92    56,748 
                                    ------------  -------  -----------  ------  ------------  -------  --------------- 
      9. THAT the Directors' 
       Remuneration Report 
       as set out in the 
       Annual Report for 
       the year ended 31 
       December 2020 be 
       and is hereby approved.       97,828,443    93.52    6,774,781    6.48    104,603,224   48.94    14,865 
                                    ------------  -------  -----------  ------  ------------  -------  --------------- 
      10. THAT a dividend 
       of $25 million payable 
       in cash on the Common 
       Shares for the financial 
       year ended 31 December 
       2020 in the form 
       of an ordinary dividend 
       is declared and 
       approved.                     104,613,486   100.00   738          0.00    104,614,224   48.95    3,865 
----------------------------------  ------------  -------  -----------  ------  ------------  -------  --------------- 
      11. THAT a dividend 
       of $25 million payable 
       in cash on the Common 
       Shares in the form 
       of a special dividend 
       is declared and 
       approved.                     104,613,470   100.00   754          0.00    104,614,224   48.95    3,865 
----------------------------------  ------------  -------  -----------  ------  ------------  -------  --------------- 
      12. THAT the Company 
       be generally and 
       unconditionally 
       authorised to make 
       market purchases 
       of its Common Shares 
       in such manner as 
       the Directors shall 
       from time to time 
       determine, provided 
       that: i. the maximum 
       aggregate number 
       of Common Shares 
       hereby authorised 
       to be purchased 
       is 21,187,050 (representing 
       approximately 10% 
       of the aggregate 
       issued common share 
       capital; ii. the 
       minimum price (exclusive 
       of any expenses) 
       which may be paid 
       for a Common Share 
       is its nominal value; 
       and the maximum 
       price (exclusive 
       of any expenses) 
       which may be paid 
       for a Common Share 
       is not more than 
       the higher of: (a) 
       an amount equal 
       to 5% above the 
       average of the middle 
       market quotations 
       of the Common Shares 
       in the Company (as 
       derived from the 
       London Stock Exchange 
       Daily Official List) 
       for the five business 
       days immediately 
       preceding the date 
       on which that Common 
       Share is contracted 
       to be purchased; 
       and (b) an amount 
       equal to the higher 
       of: i. the price 
       of the last independent 
       trade of a Common 
       Share; and ii. the 
       highest current 
       independent bid 
       for a Common Share 
       on the London Stock 
       Exchange at the 
       time the purchase 
       is carried out, 
       as derived from 
       the London Stock 
       Exchange Trading 
       System; iii. such 
       authority shall 
       expire (unless otherwise 
       renewed, varied 
       or revoked by the 
       Company in a general 
       meeting) at the 
       conclusion of the 
       AGM of the Company 
       in 2022 except that 
       the Company may 
       at any time prior 
       to the expiry of 
       such authority make 
       a contract or contracts 
       to purchase Common 
       Shares which will 
       or might be completed 
       or executed wholly 
       or partly after 
       the expiration of 
       such authority and 
       may make a purchase 
       of Common Shares 
       in pursuance of 
       any such contract 
       or contracts and 
       may hold as Treasury 
       Shares any Common 
       Shares purchased 
       pursuant to the 
       authority conferred 
       in this resolution.           104,572,860   100.00   2,185        0.00    104,575,045   48.93    43,043 
                                    ------------  -------  -----------  ------  ------------  -------  --------------- 
 

The Board notes that Resolutions 2 and 6 were duly passed but did not attain the support of 80% of shareholders who voted. As set out in provision 4 of the 2018 UK Corporate Governance Code, the Board will consult and engage with shareholders as appropriate. The Company will provide an update within six months of the AGM, in accordance with the 2018 UK Corporate Governance Code.

Enquiries:

 
Gulf Keystone:                            +44 (0) 20 7514 1400 
Aaron Clark, Head of Investor Relations   aclark@gulfkeystone.com 
 
Celicourt Communications:                 + 44 (0) 20 8434 2754 
Mark Antelme                              GKP@Celicourt.uk 
 Jimmy Lea 
 

or visit: www.gulfkeystone.com

Notes to Editors:

Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone is available on its website www.gulfkeystone.com

Disclaimer

This announcement contains certain forward-looking statements that are subject to the risks and uncertainties associated with the oil & gas exploration and production business. These statements are made by the Company and its Directors in good faith based on the information available to them up to the time of their approval of this announcement but such statements should be treated with caution due to inherent risks and uncertainties, including both economic and business factors and/or factors beyond the Company's control or within the Company's control where, for example, the Company decides on a change of plan or strategy. This announcement has been prepared solely to provide additional information to shareholders to assess the Group's strategies and the potential for those strategies to succeed. This announcement should not be relied on by any other party or for any other purpose.

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END

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June 18, 2021 08:05 ET (12:05 GMT)

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