Good Energy Group PLC Result of Requisitioned General Meeting (4634B)
February 11 2022 - 5:59AM
UK Regulatory
TIDMGOOD
RNS Number : 4634B
Good Energy Group PLC
11 February 2022
Good Energy Group PLC
("Good Energy" or "the Company")
Result of Requisitioned General Meeting
Good Energy Group PLC (AIM: GOOD), the 100% renewable
electricity supplier and innovative energy services provider,
announces that shareholders voted against both resolutions at the
requisitioned general meeting held at 9am today, Friday 11 February
2022.
Background
On 24 December 2021, the board of directors of Good Energy (the
"Board") received a requisition notice from Ecotricity Group
Limited ("Ecotricity") requiring the Board to convene a general
meeting of shareholders for the purpose of considering two
resolutions, namely:
-- an ordinary resolution to remove William Whitehorn from
office as a director of the Company ("Resolution 1"); and
-- a special resolution to direct the Board not to dispose of
the Company's generation assets without shareholder approval
("Resolution 2" and, together with Resolution 1, the "Requisitioned
Resolutions").
Result
All voting was undertaken on a poll. The table below shows the
votes received for and against each of the Requisitioned
Resolutions.
For Against Total Withheld
Resolution Votes % Votes % Votes % ISC Votes
---------- ------ ---------- ------ ----------- ------ ---------
1 4,581,943 41.7% 6,411,473 58.3% 10,993,416 65.5% 35,198
---------- ------ ---------- ------ ----------- ------ ---------
2 4,658,286 42.8% 6,226,697 57.2% 10,884,983 64.9% 143,631
---------- ------ ---------- ------ ----------- ------ ---------
Notes:
1. Any proxy appointments giving discretion to the chairman of
the meeting have been included in the "Against" total.
2. Votes "For" and "Against" any Requisitioned Resolution are
expressed as a percentage (rounded to one decimal place) of votes
validly cast for or against that Requisitioned Resolution, as the
case may be.
3. A vote "Withheld" is not a vote in law and is not counted in
the calculation of the votes "For" or "Against" a Requisitioned
Resolution.
4. The Company's total ordinary shares in issue (total voting
rights) ("ISC") as at 11 February 2022 was 16,783,914 ordinary
shares of GBP0.05 each. Holders of ordinary shares are entitled to
one vote per ordinary share held.
Consequently, neither of the Requisitioned Resolutions received
sufficient support from the Company's shareholders to be
passed.
Lack of support for Ecotricity's proposals
-- Shareholders are reminded that as at 11 February 2022
Ecotricity held 4,201,071 ordinary shares.
-- Ecotricity voted its entire shareholding in favour of both of the Requisitioned Resolutions.
-- If the results are calculated excluding the votes cast by
Ecotricity, the result is as follows:
For Against Total Withheld
Resolution Votes % Votes % Votes Votes
-------- ----- ---------- ------ ---------- ---------
1 380,872 5.6% 6,411,473 94.4% 6,792,345 35,198
-------- ----- ---------- ------ ---------- ---------
2 457,215 6.8% 6,226,697 93.2% 6,683,912 143,631
-------- ----- ---------- ------ ---------- ---------
The results of the general meeting will also be published on the
Company's website.
Enquiries
Good Energy Group PLC Email: press@goodenergy.co.uk
Nigel Pocklington, Chief Executive
Charlie Parry, Director of Corporate
Strategy & IR
Luke Bigwood, Director of External
Affairs
SEC Newgate UK Email: GoodEnergy@secnewgate.co.uk
Elisabeth Cowell Tel: +44 (0)7900 248213
Investec Bank plc (Nominated Adviser
and Joint Broker)
Sara Hale / Jeremy Ellis Tel: +44 (0) 20 7597 5970
Canaccord Genuity Limited (Joint Tel: +44 (0) 20 7523 4617
Broker)
Henry Fitzgerald - O'Connor
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END
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