REG - Active Energy Group - Result of AGM

Active EnergyAnnouncement

04/07/2022 11:00

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RNS Number : 2025R  Active Energy Group PLC  04 July 2022

Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy

 

4 July 2022

Active Energy Group Plc

("Active Energy" or the "Company")

 

Result of AGM

 

Active Energy, the London quoted international biomass based renewable energy
business, announces that at the Company's annual general meeting ("AGM"), held
earlier today, all resolutions were duly passed. The proxy votes received
from shareholders on each resolution are set out below.

 

A short presentation made at the AGM by CEO, Michael Rowan, is available at:
https://www.aegplc.com/ (https://www.aegplc.com/)

 

 

 Resolutions                                                             Votes for*     % of votes cast  Votes against  % of votes cast  Votes total    % of share capital  Votes withheld

                                                                                                                                         **                                 ***
 To approve the report and accounts                                      2,591,397,004  99.8             4,052,147      0.2              2,595,449,151  45.8                3,964,469

 To re-appoint Michael Rowan as a Director                               2,585,093,665  99.5             13,573,779     0.5              2,598,667,444  45.9                746,176

 To re-appoint the auditor                                               2,593,059,027  99.8             5,291,647      0.2              2,598,350,674  45.9                1,062,946
                                                                         2,582,978,334  95.0             135,159,924    5.0              2,718,138,258  48.0                764,527

 To approve the share consolidation
                                                                         2,581,878,659  99.4             16,773,989     0.6              2,598,652,648  45.9                760,972

 To authorise Directors to allot shares

 To authorise Directors to allot shares for cash without application of  2,579,036,887  99.2             19,632,531     0.8              2,598,669,418  45.9                744,202
 pre-emption rights

 

 *    Includes discretionary votes
 **   Total votes cast do not include withheld votes
 ***  A vote withheld is not a vote in law and is not counted in the calculation of
      the proportion of votes 'For' or 'Against' any of the resolutions

 

 

Share Consolidation

 

Details of the Consolidation of the Company's ordinary shares, approved at
today's AGM, were set out in the Company's announcement on 10 June 2022,
including the timetable of events. Application has been made for the New
Ordinary Shares to be admitted to trading on AIM and dealings in the New
Ordinary Shares are expected to commence at 8:00 a.m. tomorrow.

 

Following Admission, the new ISIN code for the Company's ordinary shares of
£0.0035 each will be GB00BPG7NS80 and their new SEDOL code will
be BPG7NS8.

 

As set out in the Company's announcement on 10 June 2022, to effect the
Consolidation it is necessary to issue such minimum number of additional
Existing Ordinary Shares so that the aggregate nominal value of the ordinary
share capital of the Company is exactly divisible by 35. Therefore, 15
Existing Ordinary Shares will be issued at nominal value today, prior to the
Consolidation.

 

 

 

Total Voting Rights

 

Upon Admission, the Company's issued share capital will consist
of 161,863,136 ordinary shares of £0.0035 each with one voting right each.
The Company does not hold any Ordinary Shares in treasury. Therefore, the
total number of Ordinary Shares and voting rights in the Company will
be 161,863,136. With effect from Admission, this figure may be used by
shareholders in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a
change to their interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.

 

Unless otherwise defined herein, capitalised terms used in this announcement
shall have the same meanings as defined in the announcement published on 10
June 2022.

 

OTCQB

 

Following the Consolidation, the Directors believe that the Company's share
price will comply with the rules for listing on the OTCQB and the Company will
therefore be able to proceed with its OTCQB listing. The Board feels that this
is a positive step for AEG, as it transitions towards ramping up operations at
the Ashland Facility in Maine, USA. A further announcement will be made once
this has completed.

 

 

 Enquiries
 Active Energy Group Plc             Michael Rowan (Chief Executive Officer)                             info@aegplc.com

                                     Andrew Diamond (Chief Financial Officer)

 Allenby Capital Limited             Nick Naylor / James Reeve / Freddie Wooding (Corporate Finance)   Office: +44 (0)20 3328 5656

 Nominated Adviser and Sole Broker   Amrit Nahal (Sales/Corporate Broking)

 Camarco                             Georgia Edmonds / Tom Huddart / Emily Hall                        aeg@camarco.co.uk (mailto:aeg@camarco.co.uk)

 Financial PR Adviser                                                                                  Office: +44 (0)20 3757 4980

 

About Active Energy Group:

 

Active Energy Group plc is a London listed (AIM: AEG) renewable energy company
that has developed a proprietary technology which transforms low-cost biomass
material into high-value green fuels. Its patented product CoalSwitch® is the
world's only drop-in biomass fuel that can be mixed at any ratio with coal or
completely replace coal in existing coal-fired power stations without
requiring significant plant modification. Active Energy Group's immediate
strategic focus is the production and commercialisation of CoalSwitch®.

 

 

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