20th Jan 2016 07:00
JKX OIL & GAS plc ("JKX")
ISS recommends JKX shareholders vote against all Proxima resolutions
The Board of JKX Oil & Gas Plc announces that Institutional Shareholder Services Inc. ("ISS"), the global leader in corporate governance, has recommended that JKX shareholders should vote AGAINST all resolutions proposed by Proxima Capital Group ("Proxima") at the requisitioned General Meeting on 28 January 2016.
ISS recommendations confirm the Board's view that Proxima has not presented a justifiable case for its proposals. Accordingly, ISS concludes that support for Proxima's requests is not warranted.
ISS supports the JKX Board's voting recommendations which are as follows:
| Proxima Proposed Resolution
| ISS | JKX Board |
1. | Elect Thomas Reed, a Shareholder Nominee to the Board | AGAINST | AGAINST |
2. | Elect Russell Hoare, a Shareholder Nominee to the Board | AGAINST | AGAINST |
3. | Elect Paul Ostling, a Shareholder Nominee to the Board | AGAINST | AGAINST |
4. | Elect Vladimir Tatarchuk, a Shareholder Nominee to the Board | AGAINST | AGAINST |
5. | Elect Vladimir Rusinov, a Shareholder Nominee to the Board | AGAINST | AGAINST |
6. | Remove Dr Paul Davies as Director | AGAINST | AGAINST |
7. | Remove Cynthia Dubin as Director | AGAINST | AGAINST |
8. | Remove Peter Dixon as Director | AGAINST | AGAINST |
9. | Remove Martin Miller as Director | AGAINST | AGAINST |
10. | Remove Lord Oxford as Director | AGAINST | AGAINST |
11. | Remove Dipesh Shah as Director | AGAINST | AGAINST |
12. | Remove Nigel Moore as Director | AGAINST | AGAINST |
END
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