Brooge Energy Limited's Shareholder Meeting Outcomes Analyzed

Author: Addison Perry Updated: 10-01-2025 08:10 AM

Brooge Energy Limited Announces Shareholder Meeting Results

DUBAI — Brooge Energy Limited (“BEL” or the “Company”), an innovative Cayman Islands-based infrastructure provider specializing in Clean Petroleum Products, Biofuels, and Crude Oil storage solutions, recently shared critical outcomes from its extraordinary general meeting of shareholders.

Voting Resolutions Overview

During the meeting, two resolutions garnered attention from shareholders:

First Resolution: Sale Approval

The first resolution sought approval for the sale of the Company’s interests in BPGIC FZE and BPGIC Phase III FZE to Gulf Navigation Holding PJSC. This proposal, which was strongly recommended by the Board of Directors, reflects the Company’s strategic direction and growth aspirations.

Second Resolution: Distribution of Proceeds

The second resolution focused on the distribution of proceeds from the aforementioned transaction to shareholders. It emphasized adherence to the mechanics and pricing detailed in the notice, while remaining within regulatory frameworks.

Shareholder Participation and Voting Results

Both resolutions received overwhelming support from shareholders, indicating robust confidence in the Company’s strategic decisions. A total of 105,719,265 shares out of 109,587,853 were cast in the voting process, reflecting a participation rate of 96.46%.

In the case of Resolution 1, an impressive 99.99% of voting shareholders approved the sale, while 8,579 votes were cast against it, and an additional 21 abstained. For Resolution 2, 99.97% of participants were in favor, with 24,569 opposing and 3 abstaining.

Next Steps and Future Communications

While the timing and specifics regarding the distribution of proceeds remain under discussion, the management team assures that any announcements regarding this matter will be communicated directly to stakeholders as soon as relevant information is available.

Investor Relations Contact

For further inquiries, investors can reach out to:
KCSA Strategic Communications
Valter Pinto, Managing Director
+1 212-896-1254
BROG@kcsa.com

Frequently Asked Questions

What were the main outcomes of the extraordinary meeting?

The meeting resulted in the approval of two significant resolutions regarding the sale of company assets and distribution of proceeds to shareholders.

How many shares participated in the voting process?

A total of 105,719,265 shares participated in the voting, which is about 96.46% of the total shares.

What percentage of shareholders supported the resolutions?

Resolution 1 received 99.99% support, while Resolution 2 had 99.97% in favor.

What is the next step following the resolutions?

The timing and amount of the proceeds distribution will be determined and announced separately to shareholders.

Who can investors contact for more information?

Investors can reach out to Valter Pinto at KCSA Strategic Communications for further questions or information.

About The Author

Hello, I'm 30-year-old financial writer and expert Addison Perry, and I love to simplify the intricacies of the financial industry. I've committed myself over the years to deciphering the subtleties of investing techniques and economic trends and converting them into doable guidance that anybody can use. My goal with writings and books is to make money interesting and approachable so that readers may take charge of their financial futures.

My enthusiasm to empowerment and education has propelled me through my career in finance. I write because I think that everyone should be able to make educated financial decisions, and I try to provide that. Regardless of experience level with investing, my work is intended to provide insightful analysis and practical advice to enable you to thrive in the always changing financial environment. I appreciate you traveling with me toward success and financial literacy.

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