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