Good Energy Group PLC Result of AGM (5909R)
June 30 2020 - 10:35AM
UK Regulatory
TIDMGOOD
RNS Number : 5909R
Good Energy Group PLC
30 June 2020
Good Energy Group PLC
(the "Company")
Results of Annual General Meeting
At the Company's Annual General Meeting held at 4pm on Tuesday
30 June, shareholders passed Ordinary resolutions 1 - 5 and 7.
The Board notes that that Ordinary resolution 6 did not pass.
This resolution sought shareholder approval to renew the Company's
authority to continue its referral arrangements, even if they
constituted political donation or political expenditure, up to an
aggregate limit of GBP40,000. This resolution was proposed as a
precautionary measure, in case any of the Company's normal
operating activities were caught by the broad definition of
political expenditure contained in the Companies Act 2006. The
Company and its subsidiaries made no political donations and
incurred no political expenditure following the conclusion of the
2019 Annual General Meeting to date.
The Board notes that special resolutions 8, 9, 10 and 11 also
did not pass. Resolutions 9 and 11 were relatively standard
authorities that UK listed companies take at annual general
meetings, relating to the allotment of 5% of shares for cash on a
non-pre-emptive basis and purchase of own shares. Resolution 10 was
included to potentially avoid further costs which would be borne by
the Company in convening a general meeting of shareholders should
the necessity for a non pre-emptive issue of new Ordinary Shares in
excess of the authorities granted by Resolutions 8 and 9 arise
between the date of the AGM and 30 September 2020. The board is
disappointed not to receive this limited additional flexibility of
the special resolutions to pursue opportunities in the interests of
the Company and its shareholders.
The results of the AGM will be published on the Company's
website as soon as practicable following the meeting.
The full text of the resolutions may be found in the Notice of
the Annual General Meeting, copies of which are also available on
the Company's website at
www.group.goodenergy.co.uk/investor-centre/agm-and-general-meeting-information/
Enquiries:
Good Energy Group PLC Via Walbrook PR
Juliet Davenport, Chief Executive
Charlie Parry, Investor Relations
Luke Bigwood, Communications
Investec Bank plc (Nominated Adviser) Tel: +44 (0) 20 7597 5970
Jeremy Ellis
Sara Hale
Walbrook (Financial PR) goodenergy@walbrookpr.com
Nick Rome Tel: +44 (0) 20 7933 8783
Tom Cooper
Notes to editors:
About Good Energy www.goodenergy.co.uk
Good Energy is a generator and supplier of 100% renewable power
and an innovator in energy services. It currently owns two wind
farms, six solar farms and sources electricity from a community of
1,500 independent UK generators.
Since it was founded 20 years ago, the Company has been at the
forefront of the charge towards a cleaner, distributed energy
system. Its mission is to support UK households and businesses
generate, store and share clean power.
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contact rns@lseg.com or visit www.rns.com.
END
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