REG-Gulf Keystone Petroleum Ltd Result of AGM

Gulf Keystone PetroleumAnnouncement

21/06/2024 11:15

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Gulf Keystone Petroleum Ltd (GKP)
Result of AGM

21-Jun-2024 / 11:10 GMT/BST

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21 June 2024

 

 

 

                     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 2024 Annual General Meeting ("AGM") held today at 9 A.M
(BST) via webcast were duly passed by shareholders.

 

The results of the AGM are as follows:

 

                                         VOTES           VOTES     % of   VOTES
 RESOLUTION         VOTES FOR     %     AGAINST    %     TOTAL     ISC   WITHHELD
                                                                  VOTED
 1. THAT BDO LLP be
    appointed as
    the Company’s
    auditor to hold
    office from the
    close of this
    meeting until
    the close of
    the Company’s   92,298,471 100.00%   2,421   0.00% 92,300,892 41.47%  24,418
    next annual
    general meeting
    and that the
    Board of
    Directors be
    authorised to
    determine the
    auditor’s
    remuneration.
 2. THAT Mr Martin
    Angle be and is
    hereby
    re-appointed as 92,168,667 99.86%   131,525  0.14% 92,300,192 41.47%  25,102
    a Director in
    accordance with
    the Bye-laws.
 3. THAT Mr Julien
    Balkany be and
    is hereby
    appointed as a  92,172,091 99.92%   70,811   0.08% 92,242,902 41.45% 152,408
    Director in
    accordance with
    the Bye-laws.
 4. THAT Ms Wanda
    Mwaura be and
    is hereby
    re-appointed as 92,098,074 99.89%   103,463  0.11% 92,201,537 41.43% 123,773
    a Director in
    accordance with
    the Bye-laws.
 5. THAT Mr David
    Thomas be and
    is hereby
    re-appointed as 92,079,394 99.86%   125,401  0.14% 92,204,795 41.43% 120,266
    a Director in
    accordance with
    the Bye-laws.
 6. THAT Mr Jon
    Harris be and
    is hereby
    re-appointed as 92,136,028 99.92%   71,134   0.08% 92,207,162 41.43% 118,148
    a Director in
    accordance with
    the Bye-laws.
 7. THAT Mr Gabriel
    Papineau-Legris
    be and is
    hereby          92,165,693 99.96%   39,303   0.04% 92,204,996 41.43% 120,314
    appointed as a
    Director in
    accordance with
    the Bye-laws.
 8. THAT the
    Directors’
    Remuneration
    Report as set
    out in the
    Annual Report   91,545,527 99.29%   656,000  0.71% 92,201,527 41.43% 123,738
    for the year
    ended 31
    December 2023
    be and is
    hereby
    approved.
 9. THAT the
    Company be
    generally and
    unconditionally
    authorised to   92,169,605 100.00%   2,496   0.00% 92,172,101 41.42% 150,404
    make market
    purchases of
    its Common
    Shares.
10. THAT the rules
    of the Gulf
    Keystone
    Petroleum 2024  90,761,523 99.17%   762,631  0.83% 91,524,154 41.13% 804,565
    Long Term
    Incentive Plan
    are approved.
11. THAT the rules
    of the Gulf
    Keystone
    Petroleum 2024  91,266,020 99.68%   293,871  0.32% 91,559,891 41.14% 804,604
    Deferred Bonus
    Plan are
    approved.
12. THAT the
    Directors’
    Remuneration
    Policy approved
    by shareholders
    in 2022 be
    amended to      83,364,568 91.04%  8,205,129 8.96% 91,569,697 41.15% 794,798
    permit a
    one-off
    retention
    payment to the
    Chief Executive
    Officer in
    January 2025.

 

Continuation of share buyback programme

 

Following the passing of Resolution 9,  the Company’s share buyback programme  of
Common Shares for  up to a  maximum aggregate consideration  of $10 million  will
continue to the earlier  of its completion or  the Company’s 2025 Annual  General
Meeting, in accordance with the terms set out in the announcement on 13 May 2024.

 

Board and Committee composition

 

Following conclusion of the  AGM, Gabriel Papineau-Legris  has been appointed  as
executive director and Chief Financial Officer, replacing Ian Weatherdon upon his
retiral. 

 

As previously disclosed, the  Company is currently in  a recruitment process  for
additional independent non-executive directors upon Kimberley Wood stepping  down
from the Board at the AGM. In the meantime, Martin Angle has been appointed Chair
of the Remuneration  Committee on  an interim  basis pending  conclusion of  this
recruitment process. In addition, David Thomas has been appointed Deputy Chair of
the Board  and  interim  Senior  Independent  Director.  Wanda  Mwaura  has  been
appointed as a member of the Remuneration Committee.  

 

An update on the recruitment process will be provided when appropriate.

 

 

Enquiries: 

 

Gulf Keystone:                          +44 (0) 20 7514 1400  
Aaron Clark, Head of Investor Relations

& Corporate Communications               1 aclark@gulfkeystone.com

 
FTI Consulting                          +44 (0) 20 3727 1000
Ben Brewerton
                                         2 GKP@fticonsulting.com
Nick Hennis

 

 

or visit:  3 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  4 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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Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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   ISIN:          BMG4209G2077
   Category Code: MSCM
   TIDM:          GKP
   LEI Code:      213800QTAQOSSTNTPO15
   Sequence No.:  329559
   EQS News ID:   1930779


    
   End of Announcement EQS News Service

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References

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   2. mailto:GKP@fticonsulting.com
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