28 June 2024
Sound Energy plc
("Sound Energy" or the "Company")
Results of Annual General Meeting ("AGM")
The Directors of Sound Energy, the transition energy company, announces that the resolutions detailed below were put to shareholders at the AGM of the Company held earlier today by way of a poll.
The results of the poll were as follow:
|
Resolutions |
For |
% |
Against |
% |
Withheld |
|
|
1 |
To receive the audited annual accounts of the Company for the year ended 31 December 2023 |
590,772,564 |
99.96 |
235,317 |
0.04 |
844,920 |
|
2 |
To re-appoint Crowe UK LLP as the Auditor of the Company |
590,816,162 |
99.86 |
819,502 |
0.14 |
217,137 |
|
3 |
To authorise the Directors to determine the remuneration of the Auditors |
584,003,177 |
98.73 |
7,529,606 |
1.27 |
320,018 |
|
5 |
To re-appoint David Blewden as a Director of the Company |
562,408,009 |
95.06 |
29,202,211 |
4.94 |
242,581 |
|
6 |
To give directors authority to allot equity securities |
561,910,056 |
95.00 |
29,595,608 |
5.00 |
347,137 |
|
Special Resolutions: |
||||||
|
7 |
To give directors authority disapply re-emption rights |
296,413,406 |
50.11 |
295,142,258 |
49.89 |
297,137 |
|
8 |
To give directors authority to make market purchases of own shares |
583,718,777 |
98.68 |
7,806,887 |
1.32 |
327,137 |
A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against" any resolution.
Resolution 4, an Ordinary Resolution to re-appoint Simon Ashby-Rudd as a Director of the Company in accordance with Article 131 of the Articles of Association, was withdrawn given Mr Ashby-Rudd's decision to step down from the Board as announced on 14 June 2024.
Resolution 7, a Special Resolution granting the directors authority to allot shares on a non-pre-emptive basis, and which required 75 per cent of the votes cast to be in favour in order to pass, has failed.
Graham Lyon, Executive Chairman, commented:
"It is unfortunate that Resolution 7, to provide customary flexibility in relation any future issues of equity which the Board considered to be in the best interests of shareholders failed to receive the necessary support. Notwithstanding the resultant limitations, the Company will continue to engage with shareholders, including in the event that additional shareholder authority is required."
For further information please contact:
|
Sound Energy Graham Lyon, Executive Chairman |
|
|
Cavendish Capital Markets - Nominated Adviser Ben Jeynes Peter Lynch |
Tel: 44 (0)20 7220 0500 |
|
Zeus - Broker Simon Johnson |
Tel: 44 (0)20 3829 5000 |
|
Gneiss Energy Limited - Financial Adviser Jon Fitzpatrick Paul Weidman Doug Rycroft |
Tel: (0)20 3983 9263 |