Good Energy Group PLC Result of AGM (8436I)
June 22 2017 - 1:00AM
UK Regulatory
TIDMGOOD
RNS Number : 8436I
Good Energy Group PLC
22 June 2017
22 June, 2017
Good Energy Group PLC
("Good Energy" or "the Company")
Result of Annual General Meeting
At the Company's Annual General Meeting held in Chippenham
yesterday, shareholders passed
resolutions 1-4 and 6-10.
The following resolutions were not passed:
ORDINARY BUSINESS
Resolution 5: Retirement and re-appointment of Martin Edwards as
Director
SPECIAL BUSINESS
Resolution 11: Disapplication of pre-emption rights (Open offer
to shareholders and 5% unrestricted)
Resolution 12: Disapplication of statutory pre-emption rights
(5% for specific purposes)
Resolution 13: Disapplication of statutory pre-emption rights
(1% for customer loyalty scheme)
Resolution 14: Calling of general meeting on 14 days' notice
The Board of Good Energy notes these results and will consider
why these resolutions proved unpopular in the context of what is
best for the business and for shareholders as a whole.
John Maltby, Chairman, said:
"As a purpose-led organisation with a large customer shareholder
base, we run our business for all shareholders. We were really
pleased that a variety of our shareholder groups attended the AGM
and discussed their views with the Board. There was healthy and
positive debate, driven by some understandable questions from the
room, and open and constructive engagement with the Board.
I am delighted to confirm the appointment of Emma Tinker and the
re-appointment of Denise Cockrem by shareholders. These
appointments are testament to the progress we have made in recent
years; attracting and retaining a robust, diverse team with
complementary skills and experience capable of delivering the
Company's purpose and strategic objectives.
The Board is very disappointed that Martin Edwards was not
re-elected and will consider the most appropriate way to retain the
benefit of his experience for the future.
We are naturally disappointed that the special resolutions were
not passed. The Board remains of the view that having the
flexibility to issue new shares to customers, in particular, would
create additional value for the Company and benefit all
shareholders.
We will continue to engage with all shareholders about the
importance of their votes, and ensuring their voice is heard in our
decision making."
[ends]
Enquiries:
+44 (0) 1249 766
Good Energy Group PLC 795
Juliet Davenport, Chief Executive Officer
Denise Cockrem, Chief Financial Officer
Stephen Rosser, Company Secretary
Smithfield Consultants +44 (0) 20 3047 2476
Alex Simmons
Brett Jacobs
Arden Partners plc +44 (0) 121 423 8900
Steve Douglas
Investec Bank plc +44 (0) 207 597 4000
Jeremy Ellis
Sara Hale
Notes to editors:
-- Good Energy is a fast-growing green energy company,
generating and selling 100% renewable electricity and green gas to
households and businesses across the UK.
-- An AIM-listed PLC, and founder member of the Social Stock
Exchange, its purpose is to support change in the energy market,
address climate change and boost energy security.
-- The Company has been awarded 4 out of 5 stars by Which? for
customer service in 2016 and 2017, and has been voted the best
energy company for customer service by users of
MoneySavingExpert.com for three consecutive polls.
-- As at 31 December 2016, Good Energy had over 71,400 renewable
electricity customers and 44,100 carbon neutral gas customers. It
also provides Feed-in Tariff administration services to over
133,000 sites, bringing the total number of customers to
248,500.
-- Good Energy is the owner of Delabole Wind Farm, the UK's
first commercial onshore wind farm and owns and operates Hampole
Wind Farm, near Doncaster. The Company also owns and operates seven
solar farms.
-- Good Energy received an average customer advocacy of 45. A
net promoter score is an index ranging from -100 to 100 that
measures the willingness of customers to recommend a company's
products or services to others. It is used as a proxy for gauging
the customer's overall satisfaction with a company's product or
service and the customer's loyalty to the brand.
-- Good Energy has won a number of awards, including Renewable
Energy Association Company of the Year Award 2016, Business Green
Company of the Year 2015, and was named Social Impact Company of
the Year at the 2014 and 2015 Small Cap awards.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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