SOURCE: Canadian Overseas Petroleum Ltd

June 08, 2016 02:00 ET

Canadian Overseas Petroleum Limited: Results of Annual and Special Meeting

CALGARY, AB--(Marketwired - Jun 8, 2016) - Canadian Overseas Petroleum Limited (TSX VENTURE: XOP) (LSE: COPL)

TSX-V: XOP

Canadian Overseas Petroleum Limited:
 Results of Annual and Special Meeting

Calgary, Canada, June 7, 2016 - Canadian Overseas Petroleum Limited ("COPL" or the "Company") (TSX-V: XOP) (LSE: COPL), is pleased to announce that at its annual general and special meeting of shareholders held on June 6, 2016, COPL's shareholders approved the resolutions outlined in the Notice of Meeting and Information Circular dated April 16, 2016.

During business proceedings at the meeting, shareholders approved the following resolutions:

1. Election of Directors

Name of Nominee   Votes For   Percentage   Votes Withheld   Percentage
Arthur S. Millholland   135,361,565   84.42%   24,980,467   15.58%
Massimo C. Carello   140,831,532   87.83%   19,510,500   12.17%
Harald H. Ludwig   140,814,009   87.82%   19,528,023   12.18%
John F. Cowan   140,812,565   87.82%   19,529,467   12.18%
Viscount William Astor   140,603,009   87.69%   19,739,023   12.31%

2. Appointment of Auditors

By resolution passed by a show of hands, Deloitte LLP was appointed as auditor of COPL for the ensuing year and the directors were authorized to fix the auditor's remuneration.

3. Approval of Stock Option Plan

The Stock Option Plan of the Company was approved by a vote, conducted by ballot, of 66.71% for and 33.29% against.

4. Approval of Consolidation of Shares

The Board also announces that the Share Consolidation received 90.56% shareholder votes in favor, 9.44% votes against. Please refer to the Information Circular for the details of the Share Consolidation. The timing for the Share Consolidation will be determined by the Board of Directors of COPL.

For Further Information Please Contact:

Canadian Overseas Petroleum Limited
Mr. Arthur Millholland
President and CEO
Tel: + 1 (403) 262 5441

  Investor and Public Relations
  CHF Investor Relations
  Cathy Hume
  Tel: +1 (416) 868 1079 ext. 231
  Toll Free: +1 877 838 1079
  Bell Pottinger
Henry Lerwill
North America Toll Free: +1 866 834 8330
Phone: +44 (0) 203 772 2500

Broker: London Stock Exchange

Shore Capital Stockbrokers Limited
Edward Mansfield
Phone: T:+44 (0)20 7468 7906

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/5164A_1-2016-6-7.pdf

This information is provided by RNS
The company news service from the London Stock Exchange
END

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