REG - Light Science Tech. - Result of AGM

Light Science Technologies HoldingsAnnouncement

31/05/2024 16:30

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RNS Number : 7179Q  Light Science Tech. Holdings PLC  31 May 2024

Light Science Technologies Holdings plc

("LSTH", "Light Science", the "Company" or the "Group")

 

Result of AGM

 

Light Science Technologies Holdings plc (AIM: LST), comprising three
divisions: controlled environment agriculture ("CEA"); contract electronics
manufacturing ("CEM") and passive fire protection ("PFP"), announces that at
its Annual General Meeting held today, all resolutions were duly passed.

 

Resolutions 1 to 7 were passed as Ordinary Resolutions and Resolutions 8 and 9
were passed as Special Resolutions. Voting on all resolutions at the Annual
General Meeting was conducted by a show of hands and the proxy results are as
follows:

 

                                                                                  For            %      Against  %     Vote Total   Vote Total as % of Issued Share Capital  Withheld*

 Resolution
 1.     To receive the accounts of the Company for the period ended 30            161,711,466    99.99  8,300    0.01  161,719,766  48.6                                     223,500
 November 2023

 2.     To approve the Directors' Remuneration Report                             161,650,583    99.96  63,393   0.04  161,713,976  48.6                                     229,290

 3.     To re-elect Graham Cooley as director                                     161,903,173    99.99  8,300    0.01  161,911,473  48.6                                     31,793

 4.     To re-elect Richard Mills as director                                     161,923,173    99.99  8,300    0.01  161,931,473  48.6                                     11,793

 5.     To re-appoint RSM UK Audit LLP as Auditor                                 161,933,173    99.99  8,300    0.01  161,941,473  48.6                                     1,793

 6.     To authorise the Audit Committee to determine the auditor's               161,913,173    99.98  28,300   0.02  161,941,473  48.6                                     1,793
 remuneration

 7.     To grant the Directors authority to allot shares equivalent of up         161,909,176    99.99  8,300    0.01  161,917,476  48.6                                     25,790
 to 30 per cent. of the nominal value of the issued ordinary share capital

 8.     To grant the Directors authority to allot equity securities for           161,817,361    99.94  98,393   0.06  161,915,754  48.6                                     27,512
 cash other than in accordance with the statutory pre-emption rights equivalent
 of up to 20 per cent. of the nominal value of the issued ordinary share
 capital

 9.     To authorise the Board to make market purchases of up to 33,300,550       161,883,173    99.96  60,093   0.04  161,943,266  48.6                                     0
 ordinary shares (representing approximately 10% of the Company's issued
 ordinary shares)

 

* A vote withheld is not a vote in law and is not counted in the calculation
of the proportion of votes "For" or "Against" a resolution.

 

For additional information please contact:

 

 

 Light Science Technologies Holdings plc                    www.lightsciencetechnologiesholdings.com

                                                          (http://www.lightsciencetechnologiesholdings.com/)

 Simon Deacon, Chief Executive Officer                      via Walbrook PR

 Jim Snooks, Chief Financial Officer

 Andrew Hempsall, Chief Operating Officer

 Strand Hanson Limited (Nominated & Financial Adviser)      Tel: +44 (0) 20 7409 3494

 Ritchie Balmer / James Harris / Rob Patrick

 Oberon Capital (Broker)                                    Tel: +44 (0) 203 179 5300

 Mike Seabrook / Nick Lovering

 Walbrook PR Ltd (Media & Investor Relations)               Tel: +44 (0)20 7933 8780 or lst@walbrookpr.com (mailto:lst@walbrookpr.com)
 Nick Rome / Joe Walker

 

 

Notes to Editors:

 

About Light Science Technologies Holdings
plc (www.lightsciencetechnologiesholdings.com
(http://www.lightsciencetechnologiesholdings.com/) )

Light Science Technologies Holdings plc operates through three divisions:
controlled environment agriculture ("CEA"); contract electronics manufacturing
("CEM"); and passive fire protection ("PFP"). The company is involved in the
design, manufacturing, and installation of products and customized solutions
spanning various industry sectors, including commercial horticulture, pest
control, lighting, audio, gas detection, and fire protection. With a focus on
addressing global challenges related to food security, climate change, and
fire protection, the Group is committed to developing robust solutions in
these rapidly growing market sectors.

 

LSTH is the holding company for Light Science Technologies Ltd ("Light Science
Technologies") and Tomtech (UK) Limited ("Tomtech") in the CEA division; UK
Circuits and Electronics Solutions Limited ("UK Circuits") in the CEM
division; and LSTH IFB Limited ("LSTH IFB") in the PFP division.

 

Controlled Environment Agriculture

The Group's tailored solutions encompass control systems, grow lights, sensor
technology, venting, and irrigation systems, catering to both UK and global
customers. Key markets include indoor, vertical, glasshouses, polytunnels, and
medicinal farming. Driving factors comprise global food and water shortages, a
growing population, government policies promoting sustainable growth methods,
heightened scrutiny of food production's impact on climate change, and a shift
away from processed foods. Key markets span the Americas, Australasia, and
select locations in the Middle East.

 

The sensorGROW technology enables real-time monitoring of essential air zone
growing factors such as carbon dioxide, air humidity, air pressure, air
temperature, and light. In development, it aims to extend monitoring to soil
temperature, soil moisture, and soil electroconductivity. This empowers
farmers to enhance resource management, saving costs on water, nutrients,
fertilizers, and energy, while simultaneously increasing yields and
cultivating healthier crops. Learn more here
https://lightsciencetech.com/sensorgrow/
(https://lightsciencetech.com/sensorgrow/) . The nurturGROW sustainable grow
lighting product range, applicable to greenhouses, vertical farming,
polytunnels, and medicinal plants, addresses a robust market with an
anticipated global worth exceeding US$6.5 billion by 2026. Explore solutions
here https://lightsciencetech.com/solutions/greenhouse/
(https://lightsciencetech.com/solutions/greenhouse/)

 

Through Tomtech, the Group stands out as a UK leader in control systems for
commercial greenhouses and polytunnels. Tomtech enables growers in optimizing
and automating cultivation environments, leading to superior crop growth. The
product range includes control systems, software, irrigation, lighting,
sensors, and venting, applicable across various crops, ultimately improving
yields and profitability. Discover more here https://www.tomtech.co.uk/
(https://www.tomtech.co.uk/)

 

Contract Electronics Manufacturing (https://www.ukcircuits.co.uk/
(https://www.ukcircuits.co.uk/) )

 

UK Circuits serves as the Group's profitable and revenue-strong CEM-focused
division. It excels in designing, procuring, and manufacturing high-quality
CEM products, with a specialization in Printed Circuit Boards. These products
find application across diverse sectors such as audio, automotive,
electronics, gas detection, lighting, pest control, telecommunications, and,
more recently, in the CEA market.

 

Passive Fire Protection (https://injectafirebarrier.com/
(https://injectafirebarrier.com/) )

 

LSTH IFB offers a practical and cost-effective solution to rectify
non-compliant public and private buildings, spanning residential, commercial,
and industrial sectors, with regard to fire safety regulations-a challenge
addressed by a £5.1 billion allocation from the UK government. Serving as the
UK's premier independent approved installer, LSTH IFB utilizes the
ground-breaking Injectaclad fire-resistant graphite barrier system. This
system is retroactively installed within building cavities, reinstating
fire-resistant performance and containing the spread of fire and smoke
compliant with regulatory requirements. This innovative solution stands out as
an appealing alternative to the more costly and disruptive method of removing
external facades and installing traditional fire barriers. With a proven track
record in the passive fire protection market and a robust sales pipeline, LSTH
IFB targets a UK market potentially valued at up to £50 billion**.

 

 

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