Friday, May 29, 2020 / 3:20 PM /
NSE / Header Image Credit: @seplatpetroleum
Seplat Petroleum Development Company Plc announces
that at its Annual General Meeting held yesterday, Thursday 28 May 2020 at 16a
Temple Road (Olu Holloway), Ikoyi, Lagos, Nigeria, all resolutions set out in
the Notice of the Annual General Meeting put to the Shareholders were duly
passed by the requisite majority.
The results of each resolution voted by way of poll
including proxy votes lodged with the Company's Registrars are set out below:
- In view of the current COVID-19
pandemic, Seplat obtained approval from the Nigeria Corporate Affairs
Commission to hold its 2020 Annual General Meeting (AGM) by proxy ONLY, which
is in accordance with the new Guidelines on Holding of AGM of Public Companies
taking advantage of Section 230 of the Companies and Allied Matters Act (CAMA)
using proxies. For the appointment to be valid for the purposes of the Meeting,
the Company made arrangements at its cost for the stamping of the duly
completed proxy forms, which must be deposited at the office of the Registrar.
- In accordance with the Company's
articles of association, on a poll every member present in person or by proxy
has one vote for every share held. There were no restrictions on shareholders
to cast votes on any of the resolutions proposed at the AGM.
- A "Vote Withheld" is
not a vote in law and is not counted in the calculation of the proportion of
votes "For" or "Against" any resolution nor in the
calculation of the proportion of "Percentage of ISC voted" for any
- The percentage of votes
"For" and "Against" any resolution is expressed as a
percentage of votes validly cast for that resolution.
- In accordance with Section 225
(3) of the Nigerian Companies and Allied Matters Act (CAMA), the
election of the statutory Audit Committee shareholder representative members is
conducted by a show of hands at the AGM rather than by
poll and proxy.
- The Issued Share Capital ("ISC")
at the time of the Annual General Meeting was 588,444,561 shares denominated in
Naira of 50 kobo per share. The proportion of "Percentage of ISC
voted" for any resolution is the total of votes "For" and
"Against" in respect of that resolution expressed as a percentage of
- In accordance with LR 9.6.2,
copies of the relevant ordinary and special resolutions passed at the meeting
have been submitted to the FCA's National Storage Mechanism and will shortly be
available to view at http://www.morningstar.co.uk/uk/NSM. The full text of
the resolutions passed at the Annual General Meeting
can be found in the Notice of Annual General Meeting, which is available for
inspection at the National Storage Mechanism and also on the Company's website
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