Company Announcements

Results of Annual General Meeting

Source: RNS
RNS Number : 4234J
Diversified Energy Company PLC
26 April 2022
 

26 April 2022

 

Diversified Energy Company PLC

("Diversified" or the "Company")

 

Results of Annual General Meeting

 

Diversified Energy Company PLC (LSE: DEC) is pleased to announce that all resolutions put to shareholders at the Company's Annual General Meetings held earlier today were duly passed.

 

The total votes were cast as follows:

 

Resolution

 

For

%

 

Against

%

 

Withheld

1

Annual Report

 

       690,974,255      

        100        %

 

           1,472,757

     -   %

 

            166,015

2

Final Dividend

 

       692,598,183      

        100        %

 

                   1,000

     -   %

 

               13,844

3

To re-appoint Auditor

 

       692,473,422      

        100        %

 

                 39,681

     -   %

 

               99,924

4

Auditor's Remuneration

 

       692,528,137      

        100        %

 

                 35,286

     -   %

 

               49,604

5

Re-elect David Edward Johnson

 

       688,641,757      

     

99      %

 

           3,945,083

    1  %

 

               26,187

6

Re-elect Robert "Rusty" Russell Hutson, Jr.

 

       691,446,814      

        100        %

 

           1,139,251

     -   %

 

               26,962

7

Re-elect Bradley Grafton Gray

 

       691,448,909      

        100        %

 

           1,137,836

     -   %

 

               26,282

8

Re-elect Martin Keith Thomas

 

       643,432,140      

     

93      %

 

  49,154,105

    7  %

 

               26,782

9

Re-elect David Jackson Turner, Jr.

 

       686,675,128      

     

99      %

 

           5,911,117

    1  %

 

               26,782

10

Re-elect Sandra Mary Stash

 

       691,542,581      

        100        %

 

           1,045,257

     -   %

 

               25,189

11

Re-elect Melanie Anne Little

 

       645,077,449      

     

93      %

 

47,510,388

    7  %

 

               25,190

12

To elect Sylvia Kerrigan

 

       691,648,956      

        100        %

 

               912,117

     -   %

 

               51,954

13

Authority to allot shares

 

       610,680,791      

    

  88      %

 

81,883,059

   12  %

 

               49,177

14

Directors' Remuneration Report

 

       606,381,459      

     

88      %

 

86,165,071

12  %

 

               66,497

15

Directors' Remuneration Policy

 

       553,460,616      

     

83      %

 

       115,861,586

    17  %

 

23,290,825

16

Political Donations & Expenditures

 

       678,102,210      

     

98      %

 

14,428,471

    2   %

 

               82,346

17

Authority to dis-apply pre-emption rights

 

       608,794,631      

     

88      %

 

83,604,763

   12  %

 

            212,769

18

Authority to dis-apply pre-emption rights (Acquisitions)

 

       542,552,815      

     

78      %

 

149,848,576

    22  %

 

            210,772

19

Authority to purchase own shares

 

       692,429,965      

        100        %

 

                 44,220

     -    %

 

            138,478

20

Amendment of Articles

 

       690,908,669      

        100        %

 

                 23,507

     -    %

 

         1,679,987

21

Short Notice General Meeting

 

       683,581,650      

    

  99      %

 

           9,005,339

    1   %

 

               25,174

 

Note: A vote "Withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" or "Against" shown.

 

The full text of the resolutions passed at the AGM has been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

The Board of Diversified Energy Company PLC (the "Board") is pleased to note that shareholders approved all resolutions at today's AGM, most with substantial support. Having actively engaged with many shareholders ahead of the AGM and throughout the year, the Board would like to thank shareholders for their input and continued support.

 

Whilst pleased that shareholders approved most of the resolutions with majorities in excess of 80%, the Board notes that Resolution 18 (Disapplication of Pre-emption Rights for acquisitions and other capital investment) was passed with a majority of 78.36%.

 

Resolutions 17 and 18 (both in relation to the disapplication of pre-emption rights) followed the provisions of the Pre-Emption Group's Statement of Principles for the disapplication of pre-emption rights and reflect UK listed company market practice. The Board considers the flexibility afforded by the authorities to allot shares without pre-emption rights to be in the best interests of shareholders.

 

The Board is committed to maintaining an open and transparent dialogue with the Company's shareholders and in accordance with provision 4 of the UK Corporate Governance Code, it will continue this engagement to enhance its understanding of the views of shareholders who voted against this resolution including any specific concerns on share allotment authorities. The Company will publish an update on this engagement, in accordance with the UK Corporate Governance Code, within six months of the 2022 AGM and a final summary in the Company's Annual Report for the 2022 Financial Year.

 

For further information, please contact:

Diversified Energy Company PLC

+1 205 408 0909

Jim Sheehan

 

div.energy

 

ir@dgoc.com

 

 

 

Buchanan

+44 20 7466 5000

Financial Public Relations

 

Ben Romney

 

Chris Judd

 

Jon Krinks

 

James Husband

 

dec@buchanan.uk.com

 

 

About Diversified Energy Company PLC

Diversified Energy Company PLC is an independent energy company engaged in the production, marketing and transportation of primarily natural gas related to its synergistic US onshore upstream and midstream assets.

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