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BowlevenAnnouncement

03/03/2017 07:01

RNS Number : 4146Y
BowLeven Plc
03 March 2017
3 March 2017
Bowleven plc ('Bowleven' or 'the Company')
Glass Lewis Voting Guidance on COC Resolutions
Bowleven, the Africa focused oil and gas exploration group traded on AIM, notes that Glass Lewis & Co. LLC (Glass Lewis), the leading independent provider of global governance services, has published a proxy advisory report for thegeneral meeting of the Company requisitioned by Crown Ocean Capital P1 Ltd (COC) and convened for Tuesday 14 March 2017 (the General Meeting). The publication of the Glass Lewis report follows the publication of proxy advisory reports for the General Meeting by Institutional Shareholder Services, Inc. (ISS) and Pensions & Investment Research Consultants Ltd (PIRC) referred to in the Company's announcement of 1 March 2017. 
Glass Lewis recommends that Shareholders VOTE AGAINST all resolutions to be proposed at the General Meeting. 
The Board reiterates its recommendation that Shareholders VOTE AGAINST all resolutions at the General Meeting. The recommendations of the Board, ISS, PIRC and Glass Lewis for voting at the General Meeting are collated in the table below:
Resolution
Board recommendation
ISS
recommendation
PIRC recommendation
Glass Lewis 
recommendation
1 
(appointment of Christopher Ashworth)
AGAINST
AGAINST
AGAINST
AGAINST
2 
(appointment of
Eli Chahin)
AGAINST
AGAINST
AGAINST
AGAINST
3 
(removal of 
Billy Allan)
AGAINST
AGAINST
AGAINST
AGAINST
4
(removal of 
Kerry Crawford)
AGAINST
AGAINST
AGAINST
AGAINST
5
(removal of 
Kevin Hart)
AGAINST
AGAINST
AGAINST
AGAINST
6
(removal of 
John Martin)
AGAINST
AGAINST
AGAINST
AGAINST
7
(removal of 
Tim Sullivan)
AGAINST
AGAINST
AGAINST
AGAINST
8
(removal of 
Philip Tracy)
AGAINST
AGAINST
SUPPORT
AGAINST
9
(removal of any other person as director)
AGAINST
AGAINST
AGAINST
AGAINST
As previously announced by the Company on 15 February 2017, the Circular containing the notice convening the General Meeting and explaining the reasons for the Board's recommendation has been posted to Shareholders. A copy of the Circular is also available on the Company's website at http://www.bowleven.com/general-meeting/information-hub. 
ENQUIRIES
For further information please contact:
Bowleven plc
Kevin Hart, Chief Executive  00 44 131 524 5678
Kerry Crawford, Finance Director
Brunswick Group LLP
Patrick Handley  00 44 207 404 5959
Will Rowberry
Cenkos Securities plc (NOMAD)  
Derrick Lee  00 44 131 220 6939
Neil McDonald
NOTES TO EDITORS
Bowleven is an African focused oil and gas exploration group, based in Edinburgh and traded on AIM. Bowleven's vision is to build an African focused exploration and production company focused on creating and realising material value through exploration-led organic growth and niche acquisitions. Bowleven holds equity interests in three blocks in Cameroon, with one block located offshore in shallow water (operated by NewAge) and two onshore (operated by Bowleven).
NOTE TO ANNOUNCEMENT 
Advance approval of this announcement has neither been sought nor obtained from any third party named herein.
GLOSSARY AND DEFINITIONS
All references to time in this announcement are to UK time.
AIMthe market of that name operated by the London Stock Exchange
Board or Directorsthe directors of the Company
Circularthe circular from to Shareholders dated 15 February 2017, incorporating notice of the General Meeting
NewAge NewAge(African Global Energy) Limited, a privately owned oil and gas company
Shareholdera holder of ordinary shares of 10 pence nominal value in the capital of the Company
UK or United Kingdom  the United Kingdom of Great Britain and Northern Ireland

This information is provided by RNS
The company news service from the London Stock Exchange
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