REG - i3 Energy PLC - Result of AGM

I3 EnergyAnnouncement

30/06/2023 18:00

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RNS Number : 6353E  i3 Energy PLC  30 June 2023

30 June 2023

i3 Energy plc

("i3" or the "Company")

Result of AGM

i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with
assets and operations in the UK and Canada, notes that at its annual general
meeting (AGM) held on 30 June 2023, all resolutions, save resolution 11, duly
passed.   Resolution 11, a special resolution, did not pass.

Special resolution 11, to authorize the Directors to disapply pre-emption
rights.  Section 561(1) of the Companies Act 2006 provides that if the
Directors wish to allot any equity securities or sell any treasury shares (if
it holds any), for cash, the Company must first offer them to existing
shareholders in proportion to their existing shareholdings.  Section 561 does
not apply in connection with allotments made pursuant to an employee share
scheme.

The purpose of this resolution was to seek power for the Directors to allot
equity securities or sell any treasury shares for cash as if Section 561(1) of
the Companies Act 2006 did not apply in connection with rights issues, open
offers and other pre-emptive and non-pre-emptive offers and issues pursuant to
the authority granted by resolution 10, to authorize the Directors to allot
Ordinary Shares.

As a result of the resolution not passing the Company will seek shareholder
approval to disapply pre-emptive rights if and as required.

 RESOLUTION  VOTES        %       VOTES        %      VOTES        % of ISSUED     VOTES

FOR
AGAINST
TOTAL

WITHHELD
                                                                   SHARE

                                                                   CAPITAL VOTED
 1           433,694,910  99.05   4,143,618    0.95   437,838,528  36.43%          6,352
 2           438,897,673  99.99   60,668       0.01   438,958,341  36.52%          56,139
 3           438,748,952  99.94   258,726      0.06   439,007,678  36.53%          6,802
 4           437,429,501  99.99   58,554       0.01   437,488,055  36.40%          359,940
 5           437,421,681  99.99   58,554       0.01   437,480,235  36.40%          367,760
 6           437,475,496  100.00  13,554       0.00   437,489,050  36.40%          358,945
 7           326,809,431  74.70   110,676,634  25.30  437,486,065  36.40%          361,930
 8           433,333,166  99.05   4,162,042    0.95   437,495,208  36.40%          352,787
 9           437,468,916  100.00  17,134       0.00   437,486,050  36.40%          361,945
 10          300,296,975  68.59   137,544,668  31.41  437,841,643  36.43%          6,352
 11          295,714,017  67.54   142,127,626  32.46  437,841,643  36.43%          6,352
 12          437,646,215  99.96   195,428      0.04   437,841,643  36.43%          6,352
 13          437,460,419  99.99   62,056       0.01   437,522,475  36.40%          325,520

 

END

Enquiries:

 i3 Energy plc                                  c/o Camarco

 Majid Shafiq (CEO)                             Tel: +44 (0) 203 781 8331

 WH Ireland Limited (Nomad and Joint Broker)

 James Joyce, Darshan Patel                     Tel: +44 (0) 207 220 1666

 Tennyson Securities (Joint Broker)

 Peter Krens                                    Tel: +44 (0) 207 186 9030

 Stifel Nicolaus Europe Limited (Joint Broker)

 Ashton Clanfield, Callum Stewart               Tel: +44 (0) 20 7710 7600

 Camarco

 Georgia Edmonds, Violet Wilson, Sam Morris     Tel: +44 (0) 203 757 4980

 

Notes to Editors:

i3 Energy is an oil and gas Company with a low cost, diversified, growing
production base in Canada's most prolific hydrocarbon region, the Western
Canadian Sedimentary Basin and appraisal assets in the North Sea with
significant upside.

The Company is well positioned to deliver future growth through the
optimisation of its existing 100% owned asset base and the acquisition of long
life, low decline conventional production assets.

i3 is dedicated to responsible corporate practices and the environment, and
places high value on adhering to strong Environmental, Social and Governance
("ESG") practices.  i3 is proud of its performance to date as a responsible
steward of the environment, people, and capital management.  The Company is
committed to maintaining an ESG strategy, which has broader implications to
long-term value creation, as these benefits extend beyond regulatory
requirements.

i3 Energy is listed on the AIM market of the London Stock Exchange under the
symbol I3E and on the Toronto Stock Exchange under the symbol ITE. For further
information on i3 Energy please visit https://i3.energy

The information contained within this announcement is deemed by the Company to
constitute inside information under the Market Abuse Regulation (EU) No.
596/2014.

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