Business
AGM Statement
AGM Statement.
About this update from Energean Plc
[{"type":"text","content":"\n \n \n RNS Number : 5511N\n Energean Oil & Gas PLC\n 21 May 2020\n \n \n \n \n \n Energean Oil & Gas plc\n (\"Energean\" or the \"Company\")\n \n \n AGM Resolutions\n \n \n \n London, 21 May 2020 - The notice of AGM of Energean Oil and Gas plc (LSE: ENOG, TASE: א), to be held today, 21 May 2020, includes at resolution 15 a proposal to issue new shares for cash other than in accordance with statutory pre-emption rights and at resolution 16 a proposal to give the Company flexibility to make non-pre-emptive issues of shares in connection with acquisitions and other capital investments as contemplated by the Pre-Emption Group's Statement of Principles.\n The authorities sought by the Company are aligned with the Investment Association's share capital guidelines and market practice for FTSE listed companies. However, given the outcome of shareholder consultation, the Company believes that the right course of action is for the Board not to seek shareholder approval for these authorities at the AGM and these resolutions will not be put to the meeting.\n The Company will undertake a detailed review of the feedback received on these resolutions to ensure it fully understands shareholders' concerns. The Board takes seriously its responsibilities to uphold the highest standards of corporate governance and is open to constructive dialogue with shareholders and shareholder bodies.\n \n \n Enquiries\n \n \n \n \n \n \n Investors and Analysts\n \n \n \n \n \n \n \n \n \n \n \n \n \n Kate Sloan, Head of IR & ECM\n \n \n \n \n \n Media\n \n \n \n \n Tel: +44 07917 608 645 \n \n \n \n \n \n Sotiris Chiotakis Tel: +30 210 8174 242\n \n \n \n \n \n \n \n \n About Energean Oil & Gas plc\n \n \n \n \n \n Energean is a London Premium Listed FTSE 250 and Tel Aviv 35 Listed E&P company with operations offshore Israel, Greece and the Adriatic. In August 2017 the Company received Israeli Governmental approval for the FDP for its flagship Karish-Tanin gas development project, where it intends to use the only FPSO in the Eastern Mediterranean to produce first gas in 2021. Energean has already signed firm contracts for 5.6 Bcm/yr of gas sales into the Israeli domestic market. Future gas sales agreements will focus on both the growing Israeli ...