LONDON - Empyrean Energy PLC (EME: AIM), an oil and gas company, announced Monday that its shareholders have approved all proposed resolutions during a General Meeting held earlier today. The resolutions included a capital reorganization, the authority to allot shares, the dis-application of statutory pre-emption rights, and amendments to the company's articles of association.
The approval process, conducted via a poll, saw a significant majority in favor of each resolution. The first resolution, which involved a capital reorganization, received 99.27% votes in favor. Similarly, the second resolution to grant authority to allot shares and the third resolution to dis-apply statutory pre-emption rights garnered 99.19% and 99.18% approval, respectively. The fourth resolution, amending the company's articles of association, was also passed with 99.19% of the votes.
The total votes cast for each resolution were well over 350 million, with a marginal number of votes withheld, indicating robust shareholder participation and support for the company's proposed corporate actions.
The results of the General Meeting are a key step for Empyrean in restructuring its capital and enhancing its corporate governance framework. The passage of these resolutions could potentially pave the way for future financing activities and corporate initiatives that may influence the company's growth strategy.
Empyrean Energy has not disclosed specific details on how the newly approved measures will be implemented or their immediate impact on the company's operations. However, the strong shareholder backing reflects confidence in the management's plans and the company's direction.
Today's announcement is based on a press release statement from Empyrean Energy and provides shareholders and the market with the latest corporate governance outcomes from the company.
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