Block Energy plc announced that at today’s general meeting two resolutions concerning board changes proposed by Forest Nominees Ltd on behalf of G.P. (Jersey) Ltd were rejected by shareholders.
“The board is pleased with the overall level of support it has received in relation to the resolutions put to the meeting,” said the Goergia-focused oil and gas company in a statement.
“It acknowledges, however, the significant vote for the resolutions, and commits to continue to engage with all shareholders to understand their views and/or any specific concerns.”
| Resolution | For | % For | Against | % Against |
| 1. THAT Philip Dimmock be removed from office as director of the company with immediate effect. | 140,566,909 | 36.84% | 240,980,994 | 63.16% |
| 2. THAT Charles Valceschini be appointed as non-executive chairman of the company with immediate effect. | 139,944,209 | 37.79% | 230,388,805 | 62.21% |
Forest also previously called for a further general meeting to consider an independent forensic investigation into Block Energy’s affairs.