REG - Flowtech Fluidpower - Result of AGM

Flowtech FluidpowerAnnouncement

11/06/2024 12:30

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RNS Number : 9976R  Flowtech Fluidpower PLC  11 June 2024

 NEWS RELEASE

 Issued on behalf of Flowtech Fluidpower plc

 Immediate Release

 

 

 

Tuesday, 11 June 2024

 

 

 

Flowtech Fluidpower plc

Result of AGM

 

 

Flowtech Fluidpower plc ('the Company') held its Annual General Meeting (AGM)
at 10.00 am today at the Company's Registered Office, and also provided the
ability of a view-only virtual event via the Investor Meet Company platform
(IMC).

 

The AGM was compliant with legal requirements for the AGM in accordance with
the Company's Articles of Association. It had the necessary quorum present and
was purely functional and comprised only of the formal votes for each
Resolution.

 

All Resolutions, as set out in the Notice of Meeting dated 16 May 2024, were
duly passed.  In relation to Resolution 11, (giving authority for Directors
to issue shares in the Company) a limited number of the Company's shareholders
voted against this resolution.  It has been advised to the Company that the
vote was as a matter of policy and not specific to Flowtech.

 

Dividend: The final dividend of 2.2p in respect of FY23's performance will be
paid on 19 July 2024 to Members on the Register as at 21 June 2024. The
ex-dividend date is 20 June 2024.

The table below shows the proxy position of all Resolutions:

 

 Total votes lodged: 38,886,836                                                   For                               Against            Withheld

                                                                                  and including at discretion
                                                                                  Number           %                Number of   %

                                                                                  of votes                          votes
 Resolution 1                                                                     37,575,318       96.62            1,311,518   3.38   -

 To receive the Company's annual accounts, strategic report and Directors' and
 Auditor's reports for the year ended 31 December 2023.
 Resolution 2                                                                     38,886,836       100              -           -      -

 To declare a final dividend for the year ended 31 December 2023 of 2.2 pence
 per ordinary share in the capital of the Company.
 Resolution 3                                                                     38,869,256       99.95            17,580      0.05   -

 To reappoint Mike England as a

 Director of the Company.
 Resolution 4                                                                     38,885,790       99.99            1,046       0.01   -

 To reappoint Stuart Watson as a

 Director of the Company.
 Resolution 5                                                                     38,885,790       99.99            1,046       0.01   -

 To reappoint Russell Cash as a

 Director of the Company.
 Resolution 6                                                                     38,869,256       99.95            17,580      0.05   -

 To reappoint Ailsa Webb as a

 Director of the Company.
 Resolution 7                                                                     32,633,897       83.92            1,496,732   3.85   4,756,207

 To reappoint Jamie Brooke as a

 Director of the Company.
 Resolution 8                                                                     37,550,104       96.56            1,336,732   3.44   -

 To reappoint Roger McDowell as a

 Director of the Company.
 Resolution 9                                                                     38,859,290       99.93            27,546      0.07   -

 To reappoint Grant Thornton UK LLP as Auditors of the Company.
 Resolution 10                                                                    38,885,790       99.99            1,046       0.01   -

 To authorise the Directors to determine

 the remuneration of the Auditors.
 Resolution 11                                                                    23,638,332       60.74            15,248,504  39.26  -

 Pursuant to section 551 of the Act, to unconditionally authorise the Directors
 to issue shares in the Company.
 Resolution 12                                                                    36,963,612       95.05            1,923,224   4.95   -

 To Pursuant to section 701 of the Act, unconditionally authorise the Company
 to make market purchases of Ordinary shares in the capital of the Company.
 (representing up to 10% of the issued share capital).

 

 

1.          The 'for' vote includes those giving discretion to the
Chairman

2.          A vote withheld is not a vote in law and is not counted
in the calculation of the votes for or against a resolution

3.          Ordinary shareholders are entitled to one vote per share
held

4.          The Annual Report and Financial Statements for the period
ended 31 December 2023, together with the Notice of Meeting, are available to
view on the Company's website www.flowtechfluidpowerplc.com
(http://www.flowtechfluidpowerplc.com)

5.          News updates, regulatory news, and financial statements
can be viewed and downloaded from the Group's website,
www.flowtechfluidpower.com (http://www.flowtechfluidpower.com) . Copies can
also be requested from: The Company Secretary, Flowtech Fluidpower plc, Bollin
House, Bollin Walk, Wilmslow, SK9 1DP. Email: info@flowtechfluidpower.com
(mailto:info@flowtechfluidpower.com) .

 

 

Shareholders were able to submit any questions regarding the business prior to
the AGM via the Company website as detailed in the Notice of Meeting.  No
questions relating to the Resolutions were submitted ahead of the AGM by
shareholders via the Company investor website. Questions raised during the AGM
via the virtual link can be viewed on the IMC platform or viewed on the
recording which will be uploaded to the Company website shortly.

 

 

 

 

Enquiries:

Flowtech Fluidpower plc

Russell Cash, Chief Financial Officer & Company Secretary

Tel: +44 (0) 1695 577780

 

Liberum (Nominated adviser and Sole Broker)

Richard Lindley / Will King

Tel: +44 (0) 20 3100 2000

TooleyStreet Communications (IR and media relations

Fiona Tooley

Tel: +44 (0) 7785 703523

or email: fiona@tooleystreet.com (mailto:fiona@tooleystreet.com)

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