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Form of Proxy

88 ENERGY LTD

Notes

No. Proposition For Against Abstain
1

ADOPTION OF REMUNERATION REPORT

2

THAT, FOR THE PURPOSES OF SECTION 250V(1) OF THE CORPORATIONS ACT AND FOR ALL OTHER PURPOSES, APPROVAL IS GIVEN FOR: (A) THE COMPANY TO HOLD ANOTHER MEETING OF SHAREHOLDERS WITHIN 90 DAYS OF THE DATE OF THIS MEETING (SPILL MEETING); AND (B) ALL VACATING DIRECTORS TO CEASE TO HOLD OFFICE IMMEDIATELY BEFORE THE END OF THE SPILL MEETING; AND (C) RESOLUTIONS TO APPOINT PERSONS TO OFFICES THAT WILL BE VACATED PURSUANT TO (B) TO BE PUT TO VOTE AT THE SPILL MEETING

3

RE-ELECTION OF MS JOANNE WILLIAMS AS A DIRECTOR

4

APPROVAL OF 7.1A MANDATE

5

ISSUE OF PERFORMANCE RIGHTS TO MANAGING DIRECTOR

6

ISSUE OF PERFORMANCE RIGHTS TO MS JOANNE WILLIAMS

7

ISSUE OF PERFORMANCE RIGHTS TO DR STEPHEN STALEY

8

RATIFICATION OF PRIOR ISSUE OF PLACEMENT SHARES ISSUED UNDER LISTING RULE 7.1

9

APPROVAL TO ISSUE PLACEMENT WARRANTS

10

APPROVAL TO ISSUE PLACEMENT OPTIONS

11

APPROVAL TO ISSUE BROKER WARRANTS

12

APPROVAL TO ISSUE BROKER OPTIONS