Sequa Petroleum N.V. General Meeting 3 June 2016

PR63787

LONDON, Mar. 16 / PR Newswire = KYODO JBN / --

The following notice and explanatory notes below, as well as the proxy voting

form and accounts for the year ending 31st December 2015 are available on the

company's website at http://www.sequa-petroleum.com/corporate/.

Notice of the General Meeting of Shareholders of Sequa Petroleum N.V.

Shareholders are hereby invited to attend the General Meeting of Shareholders

(GM) of Sequa Petroleum N.V. (the Company), to be held at the 24th floor,

Rembrandt Tower, Amstelplein 1 (1096 HA) in Amsterdam, the Netherlands on

Friday 3 June 2016 at 14.00 hours p.m. CET.

The agenda items of the GM will be as follows:  

Agenda

1. Opening and general information

2. Report by the management of the Company on the financial year 2015

3. Implementation of the remuneration policy in the financial year 2015

4. Proposal to adopt the annual accounts of the Company*

5. Proposal to release the members of the managing board from liability*

6. Proposal to release the members of the supervisory board from liability*

7. (Re-)Appointment of managing directors:

a) Reappointment of Mr J. Broekhuijsen*

b) Reappointment of Mr P.D.M. Haynes*

c) Reappointment of Mr J.M. Luke*

d) Reappointment of Mr J.P. Bosma*

8 (Re-)Appointment of supervisory directors:

a) Reappointment of Mr E.F. Eichler*

9. Reservation and dividend policy

10. Allocation of the profit/loss*

11. Appointment of external auditor*

12. Any other business and closing of the GM

* Items put on the agenda for voting. The other items are on the agenda for

discussion only.

Meeting documents

All documents prepared for the purpose of the GM, including the agenda, the

explanatory notes thereto, and annual accounts are available for inspection and

can be obtained free of charge at the Company's offices at 42 Upper Berkeley

St, London W1H 5QL, United Kingdom. Shareholders have also received the

documents through the respective clearing system: Clearstream or Euroclear, as

applicable (the Clearing System).

Record Date / Registration to Vote

Recognised as persons entitled to attend the meeting will be those persons who

hold shares of the Company at 6 May 2016 (the Record Date), upon the processes

of all additions and withdrawals as at the Record Date.

Shareholders who wish to attend the GM either in person or by proxy are asked

to register by SWIFT via their custodian bank with BNP Paribas Securities

Services, S.C.A., Luxembourg Branch (the Agent) with a copy to

lux.ostdomiciliees@bnpparibas.com and a copy to the Company (address: 42 Upper

Berkeley St, London W1H 5QL, United Kingdom; e-mail:

Robin.Storey@sequa-petroleum.com) or by sending the registration application to

the Company (address: 42 Upper Berkeley St, London W1H 5QL, United Kingdom, to

the attention of Robin Storey, or by email to Robin.Storey@sequa-petroleum.com,

and it must include proof of ownership from their custodian bank as of the

Record Date. A template for the registration application has been received by

the shareholders through the Clearing System and can also be obtained free of

charge at the offices of the Company.  

The registration application needs to be accompanied by a certification of the

relevant custodian bank stating the number of shares held by the shareholder at

the Record Date. The registration will be confirmed by the registration

statement issued by the Company, which will serve as the admission ticket to

the meeting. Incomplete registration applications or registration applications

that are not accompanied by the aforementioned certification will be

disregarded. Registration for the GM is possible in the period from 7 May until

27 May 2016 at 17:00 hours CET.

Voting by Proxy

Notwithstanding the obligation to register for the meeting, a shareholder, who

does not wish to attend the GM in person, may give a written proxy and voting

instructions to a third person to attend and vote at the GM on his behalf. A

shareholder who will not be attending the meeting in person may also give a

proxy and voting instructions by SWIFT via their custodian bank to the Agent

with a copy to lux.ostdomiciliees@bnppribas.com and to the person referred to

in the voting proxy.

Shareholders who wish to attend the GM by proxy are asked to notify the Agent

no later than 27 May 2016 at 17:00 hours CET by completing, signing and timely

returning the proxy and the voting instruction to their custodian bank.

A template of the proxy has been received by the shareholders through the

Clearing System. A template of the proxy can also be obtained free of charge at

the offices of the Company. The proxy should, at the discretion of the Company,

sufficiently identify the shareholder and the proxy holder and the number of

shares for which the proxy holder will represent the shareholder at the GM.

Explanatory notes to the agenda of the General Meeting of Shareholders (GM) of

Sequa Petroleum N.V. (the Company) to be held at the 24th floor, Rembrandt

Tower, Amstelplein 1 (1096 HA) in Amsterdam, the Netherlands on  Friday 3 June

2016 at 14.00 hours p.m. CET.   

1. Explanation to agenda item 2

1.1 The management of the Company will explain the audited annual accounts for

the financial year 2015, as drawn up by the management board of the Company

(the Management Board).

2. Explanation to agenda item 3

2.1 In accordance with article 2:135 subsection 5a of the Dutch Civil Code, the

implementation of the remuneration policy in 2015, as outlined on page 13 of

the report for the financial year 2015, will be discussed.

3. Explanation to agenda item 4

3.1 The general meeting of the Company (the General Meeting) is invited to

adopt the annual accounts for the financial year 2015 as drawn up by the

Management Board and signed by the Management Board and the supervisory board

of the Company (the Supervisory Board).

4. Explanation to agenda item 5

4.1 It is proposed to discharge the members of the Management Board from

liability for the performance of their duties during the financial year 2015.

Under Dutch law the release from liability only covers the performance of

duties to the extent that such performance is apparent from the annual accounts

for the financial year 2015 or has otherwise been disclosed to the General

Meeting prior to the adoption of the annual accounts.

5. Explanation to agenda item 6

5.1 It is proposed to discharge the members of the Supervisory Board from

liability for their supervision of the management during the financial year

2015. Under Dutch law the release from liability only covers the performance of

duties to the extent that such performance is apparent from the annual accounts

for the financial year 2015 or has otherwise been disclosed to the General

Meeting prior to the adoption of the annual accounts.

6. Explanation to agenda item 7

6.1 Each of the current members of the Management Board, being Mr J.

Broekhuijsen, Mr P.D.M. Haynes, Mr J.M. Luke and Mr J.P. Bosma have been

re-appointed as managing director as of 1 January 2016 pursuant to a resolution

of the General Meeting dated 7 January 2016 for a period ending the latter of

30 June 2016 or the date of the 2016 annual general meeting.

6.2 Reappointment of Mr Broekhuijsen:

a) It is proposed to reappoint Mr Broekhuijsen as managing director of the

Company for a period ending the date of the 2017 annual general meeting. Mr

Broekhuijsen has indicated that he is available for reappointment.

b) In accordance with article 9.3 of the Company's articles of association (the

Articles of Association) the Supervisory Board has resolved to nominate Mr

Broekhuijsen for reappointment in a meeting of the Supervisory Board held on 14

March 2016.

c) Mr Broekhuijsen is fifty-three (53) years of age and does not hold any

position relevant for the performance of his duties as managing director, other

than his current position of managing director and as director of one of the

Company's subsidiaries, Sequa Petroleum UK Ltd. It is proposed to nominate Mr

Broekhuijsen for reappointment as managing director as he has significant

knowledge and experience in the oil and gas industry. In particular, he has 25

years of international commercial experience in E&P and LNG working for Shell

and  BG Group.

6.3Reappointment of Mr Haynes :

a) It is proposed to reappoint Mr Haynes as managing director of the Company

for a period ending the date of the 2017 annual general meeting. Mr Haynes has

indicated that he is available for reappointment.

b) In accordance with article 9.3 of the Company's the Articles of Association

the Supervisory Board has resolved to nominate Mr Haynes for reappointment in a

meeting of the Supervisory Board held on 14 March 2016.

c) Mr Haynes is sixty-one (61) years of age and does not hold any position

relevant for the performance of his duties as managing director, other than his

current position of managing director. It is proposed to nominate Mr Haynes for

reappointment as managing director as he has significant knowledge and

experience in the oil and gas industry. He has over 35 years of technical

upstream oil and gas experience working for BG Group and other international

companies.

6.4 Reappointment of Mr Luke:

a) It is proposed to reappoint Mr Luke as managing director of the Company for

a period ending the date of the 2017 annual general meeting.  Mr Luke has

indicated that he is available for reappointment.

b) In accordance with article 9.3 of the Company's the Articles of Association

the Supervisory Board has resolved to nominate Mr Luke for reappointment in a

meeting of the Supervisory Board held on 14 March 2016.

c) Mr Luke is fifty-seven (57) years of age and does not hold any position

relevant for the performance of his duties as Managing Director, other than his

current position of Managing Director and as director of two of the Company's

subsidiaries: Tellus Petroleum Invest AS and Tellus Petroleum AS. It is

proposed to nominate Mr Luke for reappointment as managing director as he has

significant knowledge and experience in the oil and gas industry. He has over

30 years of experience in the offshore oil and gas industry, holding key

positions in management, operations, engineering and marketing.

6.5 Reappointment of Mr Bosma:

a) It is proposed to reappoint Mr Bosma as managing director of the Company for

a period ending the date of the 2017 annual general meeting.  Mr Bosma has

indicated that he is available for reappointment.

b) In accordance with article 9.3 of the Company's the Articles of Association

the Supervisory Board has resolved to nominate Mr Bosma for reappointment in a

meeting of the Supervisory Board held on 14 March 2016.

c) Mr Bosma is fifty-two (52) years of age and does not hold any position

relevant for the performance of his duties as Managing Director, other than his

current position of Managing Director. It is proposed to nominate Mr Bosma for

reappointment as managing director as he has significant knowledge and

experience in the oil and gas industry with Shell. He has over 25 years of

experience in the oil and gas and LNG industry, holding key positions in

management, project development, petroleum engineering, gas marketing and new

business development.

7. Explanation to agenda item 8

7.1 Two of the three current members of the Supervisory Board, being Mr J.J.

van Rijswijk and Mr L. Windhorst were re-appointed as supervisory directors

pursuant to a resolution of the General Meeting dated 7 January 2016 for a

period until the day on which the annual General Meeting is held in the

calendar year 2017. Mr E.F. Eichler, the third member of the Supervisory Board,

was appointed as supervisory director as of 31 March 2014. Pursuant to article

15.5 of the Articles of Association, a member of the Supervisory Board will

retire not later than the day on which the annual general meeting of the

Company is held in the second calendar year after the calendar year in which

such member was last appointed.

7.2 Reappointment of Mr E.F. Eichler:  

a) It is proposed to reappoint Mr E.F. Eichler as supervisory director of the

Company until the day on which the annual General Meeting is held in the

calendar year 2018. Mr E.F. Eichler  has indicated that he is available for

reappointment.

b) In accordance with article 15.2 of the Company's the Articles of Association

the Supervisory Board has resolved to nominate Mr E.F. Eichler for

reappointment in a meeting of the Supervisory Board held on 14 March 2016.

c) Mr E.F.Eichler is fifty seven (57) years of age.  He holds no shares in the

capital of the Company. He is an employee of Sapinda Holding B.V., where he

holds the position of executive director and Group CEO and is a member of the

board of directors. Sapinda Holding B.V. is a shareholder of the Company. Mr

E.F. Eichler is currently non-executive chairman of the board of

Schmolz+Bickenbach AG and a board member of SMS Holding GmbH, SGL Carbon AG and

Heidelberger Druckmaschinen AG. He is not a member of the supervisory board of

any other company. It is proposed to nominate Mr E.F. Eichler for

re-appointment as supervisory director of the Company as he has significant

business and financial experience.

8. Explanation to agenda item 9

8.1 The Dutch Corporate Governance Code provides that the policy of a company

on additions to reserves and on dividends (the level and purpose of the

addition to reserves, the amount of the dividend and the type of dividend)

shall be dealt with and explained as a separate agenda item at the general

meeting. As there are insufficient distributable reserves, no dividend shall be

payable.

9. Explanation to agenda item 10

9.1 The General Meeting is requested to determine the allocation of the loss

for financial year 2015 of USD 57,161 thousand to be added to the retained

deficit in the shareholders' equity.

10. Explanation to agenda item 11  

10.1 It is proposed to appoint KPMG Accountants N.V. as the Company's auditor

in relation to the current financial year ending 31 December 2016.

Contacts: Jacob Broekhuijsen - CEO, +44(0)203-728-4450 or

info@sequa-petroleum.com

SOURCE: Sequa Petroleum N.V.