RNS Number : 7433B
ADES International Holding PLC
10 June 2019
 

Annual General Meeting Results

 

(London & Dubai, 10 June 2019) ADES International Holding PLC ("ADES" or the "Company"), a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), announces that the resolutions (the "Resolutions") proposed at the Annual General Meeting of the Company held today were duly passed.

Details of the Resolutions were set out in the circular to shareholders dated 17 May 2019, which is available on the Company's investor relations website (investors.adihgroup.com).

Details of the proxy votes received in respect of the Resolutions are set out below:

Resolution

Votes For

Votes Against

Votes Withheld

Number

%

Number

%

Number

1.   Approval of the directors' report and audited accounts for the financial year ended December 2018

36,334,232

100%

0

0%

0

2.   Re-election of Mr Ayman  Abbas as an executive director of the Company

35,521,212

97.76%

813,020

2.24%

0

3.   Re-election of Dr Mohamed Farouk Abdelkhalek as an executive director of the Company

36,334,232

100%

0

0%

0

4.   Re-election of Mr Yasser Zaki Hashem as a non-executive director of the Company

36,334,232

100%

0

0%

0

5.   Re-election of Mr Nabil Kassem as a non-executive director of the Company

35,521,212

97.76%

813,020

2.24%

0

6.   Re-election of Mr Ulf Clemens Ingemar Henriksson as a non-executive director of the Company

35,611,102

98.01%

723,130

1.99%

0

7.   Re-election of Mr Mohamed Walid Cherif as a non-executive director of the Company

35,611,102

98.01%

723,130

1.99%

0

8.   Re-election of Mr Hatem Soliman as a non-executive director of the Company

36,334,232

100%

0

0%

0

9.   Re-appointment of Ernst & Young (Dubai Br.) as independent auditors of the Company

36,334,232

100%

0

0%

0

10. Authority to determine the remuneration of auditors

35,521,212

99.75%

89,890

0.25%

723,130

 

Notes:

 

(a)  All resolutions were passed.

(b)  The votes "For" and "Against" are expressed in percentage of the votes received.

(c)  The total number of shares in issue at close of business (UK time) on Wednesday 5 June 2019 (being the reference time for assessing entitlement to vote on the Resolutions) was 43,793,882 ordinary shares of US$1 each.

-Ends-

 

Enquiries

 

ADES International Holding

 

 

Hussein Badawy

 

 

Investor Relations Officer

ir@adesgroup.com

+971 4355 0255

 

 

 

 

Instinctif

 

 

David Simonson

david.simonson@instinctif.com

+44 (0)20 7457 2020

Dinara Shikhametova

dinara.shikhametova@instinctif.com

+44 (0)20 7457 2020

Sarah Hourahane

sarah.hourahane@instinctif.com

+44 (0)20 7457 2020

 

NOTES TO EDITORS

 

About ADES International Holding

ADES International Holding extends oil and gas drilling and production services through its subsidiaries and is a leading service provider in the Middle East and North Africa, offering onshore and offshore contract drilling as well as workover and production services. Its c.4,000 employees serve clients including major national oil companies ("NOCs") such as Saudi Aramco and Kuwait Oil Company as well as joint ventures of NOCs with global majors including BP and Eni. While maintaining a superior health, safety and environmental record, the Group currently has a fleet of thirty-four onshore drilling rigs, thirteen jack-up offshore drilling rigs, a jack-up barge, and a mobile offshore production unit ("MOPU"), which includes a floating storage and offloading unit. For more information, visit investors.adihgroup.com

 

Forward-looking statements

Certain statements contained in this announcement, including any information as to the Group's strategy, plans or future financial or operating performance constitute "forward looking statements". These forward-looking statements can be identified by the use of forward looking terminology, including the terms "believes", "estimates", "anticipates", "projects", "expects", "intends", "aims", "plans", "predicts", "may", "will", "seeks" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the Directors of the Company concerning, amongst other things, the Group's results of operations, financial condition and performance, prospects, growth and strategies and the industry in which the Group operates.

By their nature, forward looking statements address matters that involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward looking statements are not guarantees of future performance and the Group's actual results of operations and financial condition, and the development of the business sector in which the Group operates, may differ materially from those suggested by the forward-looking statements contained in this announcement. In addition, even if the Group's results of operations and financial condition, and the development of the industry in which the Group operates, are consistent with the forward- looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods.

 

 

 


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