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LONDON - Empyrean Energy PLC (EME: AIM), an oil and gas company, announced today that its shareholders have approved all proposed resolutions during its General Meeting. The voting process was conducted by poll.
The first resolution, which grants the authority to allot shares, received overwhelming support with 96.24% of votes in favor and 3.76% against. A total of 300,033,061 votes were cast for this resolution, with 2,775,815 votes withheld.
Similarly, the second resolution concerning the dis-application of statutory pre-emption rights was passed with identical percentages of votes for and against as the first resolution. The total votes cast were the same, and the number of votes withheld was also 2,775,815.
The approval of these resolutions is a significant step for Empyrean Energy, as it provides the company with the flexibility to issue shares and potentially raise capital without the need for a pre-emptive offer to existing shareholders.
Empyrean Energy has not provided specific details on how it intends to use the authority to allot shares or the implications of the dis-application of pre-emption rights. However, such corporate actions are typically used by companies to facilitate funding for growth, acquisitions, or other corporate purposes.
Investors and stakeholders can find further information on the company’s website. Today’s announcement is based on a press release statement and reflects the results of the General Meeting held by Empyrean Energy.
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