TORONTO, May 29, 2014 /CNW/ - Pacific Rubiales Energy Corp. (TSX: PRE)
(BVC: PREC) (BOVESPA: PREB) today held its annual and special meeting
of shareholders (the "Meeting"), where each of the twelve nominees proposed as directors and listed
on the Company's management proxy circular dated April 25, 2014 were
elected as directors. A total of 225,982,373 common shares were voted
in respect of the election of directors at the Meeting, representing
72.05% of the votes attaching to all outstanding common shares. The
directors achieved an average approval vote of 93.80% from
shareholders.
Miguel Rodriguez, Lead Independent Director of the Company, commented:
"We are very pleased with the overwhelming support received from our
shareholders. Since inception, Pacific Rubiales has been committed to
delivering superior returns to our shareholder while also being mindful
of their concerns. Our management team has dedicated time to meeting
with our shareholders and as a result we have made significant
improvements to our corporate governance over the course of the last
three years.
"Although our Stock Option Plan was approved by 59% of shareholders, we are pleased to advise shareholders that the
Company will be moving away from this form of compensation and towards
a deferred share unit plan as a way to better align our compensation
with the interests of our shareholders."
The detailed results of the vote are set out below:
Nominee
|
Outcome of vote
|
Voted
|
Voted (%)
|
José Francisco Arata
|
Approved
|
182,006,386 Voted
8,609,204 Withheld
|
95.48%
4.52%
|
Miguel de la Campa
|
Approved
|
172,682,324 Voted
17,933,266 Withheld
|
90.59%
9.41%
|
German Efromovich
|
Approved
|
175,581,644 Voted
15,033,946 Withheld
|
92.11%
7.89%
|
Serafino Iacono
|
Approved
|
174,158,602 Voted
16,456,988 Withheld
|
91.37%
8.63%
|
Augusto Lopez
|
Approved
|
181,997,988 Voted
8,617,602 Withheld
|
95.48%
4.52%
|
Hernan Martinez
|
Approved
|
173,306,742 Voted
17,308,848 Withheld
|
90.92%
9.08%
|
Dennis Mills
|
Approved
|
184,113,265 Voted
6,502,325 Withheld
|
96.59%
3.41%
|
Ronald Pantin
|
Approved
|
178,743,981 Voted
11,871,609 Withheld
|
93.77%
6.23%
|
Victor Rivera
|
Approved
|
185,673,623 Voted
4,941,967 Withheld
|
97.41%
2.59%
|
Miguel Rodriguez
|
Approved
|
174,835,364 Voted
15,780,226 Withheld
|
91.72%
8.28%
|
Francisco Solé
|
Approved
|
182,033,145 Voted
8,582,445 Withheld
|
95.50%
4.50%
|
Neil Woodyer
|
Approved
|
180,456,467 Voted
10,159,123 Withheld
|
94.67%
5.33%
|
Pacific Rubiales, a Canadian company and producer of natural gas and
crude oil, owns 100% of Meta Petroleum Corp., which operates the
Rubiales, Piriri and Quifa heavy oil fields in the Llanos Basin, and
100% of Pacific Stratus Energy Colombia Corp., which operates the La
Creciente natural gas field in the northwestern area of Colombia.
Pacific Rubiales has also acquired 100% of Petrominerales Ltd, which
owns light and heavy oil assets in Colombia and oil and gas assets in
Peru, 100% of PetroMagdalena Energy Corp., which owns light oil assets
in Colombia, and 100% of C&C Energia Ltd., which owns light oil assets
in the Llanos Basin. In addition, the Company has a diversified
portfolio of assets beyond Colombia, which includes producing and
exploration assets in Peru, Guatemala, Brazil, Guyana and Papua New
Guinea.
The Company's common shares trade on the Toronto Stock Exchange and La
Bolsa de Valores de Colombia and as Brazilian Depositary Receipts on
Brazil's Bolsa de Valores Mercadorias e Futuros under the ticker
symbols PRE, PREC, and PREB, respectively.
SOURCE Pacific Rubiales Energy Corp.
PDF available at: http://stream1.newswire.ca/media/2014/05/29/20140529_C7581_DOC_EN_40900.pdf
Christopher (Chris) LeGallais
Sr. Vice President, Investor Relations
+1 (647) 295-3700
Roberto Puente
Sr. Manager, Investor Relations
+57 (1) 511-2298
Kate Stark
Manager, Investor Relations
+1 (416) 362-7735
Copyright CNW Group 2014