Newport Exploration Ltd. press release
Newport Announces Election of Directors
TSXV - TSX Venture Exchange · Oil · Natural Gas · Natural Gas Liquids · Copper · Gold · Silver · Canada
Canada NewsWire
VANCOUVER, Dec. 6, 2019
Trading Symbol: NWX (TSX-V)
VANCOUVER, Dec. 6, 2019/CNW/ - Newport Exploration Ltd ("Newport" or "the Company") is pleased to announce that the nominees listed in the management information circular for the 2019 Annual General Meeting ("AGM") of Shareholders were elected as directors of Newport. A total of 55,801,210 common shares or 53.43 per cent of Newport'sissued and outstanding common shares were voted in connection with the AGM. The detailed results are set out in the table.
| Nominee | Votes For | % For | Votes Withheld | % Withheld | | Ian Rozier | 54,303,050 | 97.32 | 1,498,160 | 2.68 | | Barbara Dunfield | 54,303,050 | 97.32 | 1,498,160 | 2.68 | | Merfyn Roberts | 55,670,050 | 99.76 | 131,160 | 0.24 | | James Robertson | 54,330,550 | 97.36 | 1,470,660 | 2.64 |
These AGM results indicate strong support for the management and Board of Directors of the Company and for the current management strategy of allocating capital to shareholders through dividends; to date, the Company has paid out more than 85% of all royalty receipts. As previously reported (Company News Release dated 3rdDecember, 2019), the Company is in the process of reviewing its dividend policy going forward.
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 accuracy or adequacy of this news release.
SOURCE Newport Exploration Ltd.
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Ian Rozier, Director and Chief Executive Officer, +1 604 685 6851, info@newport-exploration.com, www.newport-exploration.com, www.beachenergy.com.au, www.santos.comCopyright CNW Group 2019