15 May 2020
PETROFAC LIMITED
(the "Company")
RESULTS OF ANNUAL GENERAL MEETING
Petrofac Limited hereby confirms that in accordance with the arrangements previously announced, the Annual General Meeting of Petrofac Limited was held at 10:30am today. Meeting attendance was reduced to the minimum necessary quorum of shareholders, facilitated by the Company.
As notified to the Market on 6 April 2020, the Board took the decision to rescind its recommendation for a final dividend of 25.3 cents per share. Subsequently resolution 2 (to approve the final dividend) was withdrawn at the AGM.
All valid proxy votes (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting. The final results of which, for each resolution put to the meeting, were as follows:
|
No. |
Resolution |
In Favour / Discretion |
%* |
Against |
%* |
Withheld |
|
1 |
Report and Accounts |
233,781,916 |
99.96% |
87,067 |
0.04% |
308,715 |
|
2 |
Final dividend |
Resolution withdrawn |
||||
|
3 |
Remuneration Policy Report |
224,428,003 |
95.89% |
9,624,551 |
4.11% |
125,143 |
|
4 |
Annual Report on Remuneration |
229,285,647 |
97.97% |
4,758,396 |
2.03% |
133,655 |
|
5 |
Re-appoint René Médori as Non-executive Chairman |
212,584,949 |
98.94% |
2,278,387 |
1.06% |
19,314,362 |
|
6 |
Re-appoint Andrea Abt as a Non-executive Director |
233,613,436 |
99.88% |
277,514 |
0.12% |
286,748 |
|
7 |
Re-appoint Sara Akbar as a Non-executive Director |
233,619,742 |
99.88% |
284,950 |
0.12% |
273,006 |
|
8 |
Re-appoint Matthias Bichsel as a Non-executive Director |
232,082,658 |
99.23% |
1,804,878 |
0.77% |
290,162 |
|
9 |
Re-appoint David Davies as a Non-executive Director |
228,237,807 |
97.58% |
5,660,606 |
2.42% |
279,284 |
|
10 |
Appoint Francesca Di Carlo as a Non-executive Director |
233,667,684 |
99.90% |
231,529 |
0.10% |
278,485 |
|
11 |
Re-appoint George Pierson as a Non-executive Director |
233,728,526 |
99.90% |
237,601 |
0.10% |
211,571 |
|
12 |
Re-appoint Ayman Asfari as an Executive Director |
208,289,293 |
96.00% |
8,679,149 |
4.00% |
17,209,255 |
|
13 |
Re-appoint Alastair Cochran as an Executive Director |
233,646,740 |
99.87% |
302,833 |
0.13% |
228,125 |
|
14 |
Re-appoint Ernst & Young as auditors |
233,598,727 |
99.86% |
338,989 |
0.14% |
239,982 |
|
15 |
Authorise directors to fix the auditors' remuneration |
233,876,434 |
99.96% |
97,730 |
0.04% |
203,534 |
|
16 |
Directors' authority to allot shares |
232,811,272 |
99.51% |
1,150,157 |
0.49% |
216,269 |
|
17 |
Pre-emption rights |
233,774,811 |
99.92% |
181,919 |
0.08% |
220,968 |
|
18 |
Directors' authority to purchase own shares |
233,759,070 |
99.94% |
145,207 |
0.06% |
273,421 |
|
19 |
Short notice period for general meetings |
229,332,813 |
97.98% |
4,735,535 |
2.02% |
109,350 |
* percentage of votes cast excludes withheld votes.
The number of shares in issue at the date of the Meeting was 345,912,747 ordinary shares of US$0.02 each in the Company (the "Shares") and each Share attracted one vote. The total number of votes cast was 234,177,698 (67.7% of the share register).
The full text of each resolution is contained in the Notice of Annual General Meeting, which is available on the Company's website, www.petrofac.com. A copy of the poll results for the AGM will also be available on the Company's website. Resolutions 17 to 19 were passed as special resolutions. Copies of these resolutions have been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
For further information contact:
Petrofac Limited
+44 (0) 207 811 4900
LEI 2138004624W8CKCSJ177
NOTES TO EDITORS
Petrofac
Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world's leading energy companies.
Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world's evolving energy needs. Our six values - safe; ethical; innovative; responsive; quality & cost conscious; driven to deliver - are at the heart of everything we do.
Petrofac's core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, South East Asia and the United States. We have 11,500 employees based across 31 offices globally.
Petrofac is quoted on the London Stock Exchange (symbol: PFC).
For additional information, please refer to the Petrofac website at www.petrofac.com
