REG - AFC Energy Plc - AGM Resolution Vote Update and Change of Broker

AFC EnergyAnnouncement

10/10/2025 07:00

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RNS Number : 8190C  AFC Energy Plc  10 October 2025

 

10 October 2025

 

 

AFC Energy PLC

("AFC Energy" or the "Company")

 

 

Update on Annual General Meeting Resolution Vote and Change of Broker

 

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation
technologies, provides an update on recent shareholder engagement following
the Company's last Annual General Meeting on 23 April 2025 (the "AGM").

 

At the AGM, Resolution 8, relating to the Company's 2024 remuneration report,
was passed with a majority, with 77.09% of proxy votes in favour. The Company
recognised that although the resolution was passed, a significant minority of
shareholders voted against this resolution.

 

In accordance with the QCA Corporate Governance Code 2023, the Company engaged
further with our largest shareholders in order to better understand the
reasons behind the result. Having considered carefully the feedback received,
the Board maintains the view that the Remuneration Report approved at the AGM
is in the best interests of value creation for all shareholders. The Board is
grateful to shareholders for their engagement and feedback.

 

Change of Broker

 

AFC Energy also announces that further to a review of the Company's advisory
relationships, and with immediate effect, RBC Europe Limited will no longer
act as the Company's Joint Broker. Zeus will continue to act as Company's
Joint Broker alongside Peel Hunt, who will continue to act as the Company's
Nominated Adviser and Joint Broker.

 

 

For further information, please contact:

 

 AFC Energy plc                                                 +44 (0) 14 8327 6726

 Gerry Agnew (Chair, Remuneration Committee)                    investors@afcenergy.com (mailto:investors@afcenergy.com)

 John Wilson (Chief Executive Officer)

 Peel Hunt LLP - Nominated Adviser and Joint Broker

 Richard Crichton / Georgia Langoulant / Emily Bhasin           +44 (0) 207 418 8900

 Zeus - Joint Broker                                            +44 (0) 203 829 5000

 David Foreman / James Hornigold (Investment Banking)

 Dominic King (Corporate Broking) / Rupert Woolfenden (Sales)

 FTI Consulting - Financial PR Advisors                         +44 (0) 203 727 1000

 Ben Brewerton / Chris Laing / Evie Taylor                      afcenergy@fticonsulting.com (mailto:afcenergy@fticonsulting.com)

 

 

About AFC Energy

 

AFC Energy plc is a leading provider of hydrogen energy solutions, to provide
clean electricity for on and off grid power applications. The Company's fuel
cell technology is now deployable as electric vehicle chargers, off-grid
decentralised power systems for construction and temporary power with emerging
opportunities across maritime, data centres and rail as part of a portfolio
approach to the decarbonisation of society's growing electrification needs.

 

The Company's proprietary ammonia cracking technology further highlights
emerging opportunities across the distributed hydrogen production market with
a focus on hydrogen's role in supporting industries facing challenges in
decarbonisation, such as mining, cement and heavy engineering.

 

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