REG - CT Automotive Group - Result of AGM

CT AutomotiveAnnouncement

05/07/2022 12:45

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RNS Number : 3929R  CT Automotive Group PLC  05 July 2022

5 July 2022

 

CT AUTOMOTIVE GROUP PLC

("CT Automotive" or the "Company")

 

Result of Annual General Meeting

 

CT Automotive, a leading designer, developer and supplier of interior
components to the global automotive industry, is pleased to announce that all
resolutions proposed to shareholders at its Annual General Meeting held at
9.00am today were duly passed.

 

The total number of votes received in respect of all resolutions were as
follows:

 

 Resolution                                                                  Votes For   % For  Votes Against  % Against  Total  Total votes cast as % of issued share capital

 Ordinary Resolutions
 1       To receive the Annual Report and Accounts                           15,396,894  100    0              0          0      30.23%
 2       To re-appoint Simon Phillips as a director of the Company           15,396,894  100    0              0          0      30.23%
 3       To re-appoint Scott McKenzie as a director of the Company           15,396,894  100    0              0          0      30.23%
 4       To re-appoint David Wilkinson as a director of the Company          15,396,894  100    0              0          0      30.23%
 5       To re-appoint Tracey James as a director of the Company             15,396,894  100    0              0          0      30.23%
 6       To re-appoint Francesca Ecsery as a director of the Company         15,396,894  100    0              0          0      30.23%
 7       To re-appoint Raymond Bench as a director of the Company            15,396,894  100    0              0          0      30.23%
 8       To reappoint auditors of the Company                                15,396,894  100    0              0          0      30.23%
 9       To authorise the directors to determine the auditor's remuneration  15,396,894  100    0              0          0      30.23%
 10      Authority for directors to allot shares                             15,396,894  100    0              0          0          30.23%
 Special Resolution
 11      Authority for directors to allot shares on a non-pre-emptive basis  15,396,894  100    0              0          0      30.23%

 

1.    Proxy appointments which gave discretion to the Chairman of the AGM
have been included in the "For" total for the appropriate resolution.

 

2.    Votes "For" and "Against" any resolution are expressed as a
percentage of votes validly cast for that resolution.

 

3.    The number of shares in issue on 5 July 2022 was 50,933,289 with no
shares in treasury.

 

4.    The full text of the resolutions passed at the AGM can be found in
the Notice of Annual General Meeting which is available on the Company's
website at www.ctautomotive.net.

 

For further information, please contact:

 

CT Automotive
 
via. MHP

Simon Phillips, Executive Chairman

Scott McKenzie, Chief Executive Officer

David Wilkinson, Chief Financial Officer

 

MHP Communications (Financial
PR)
                Tel: +44 (0)20 3100 8540

Tim
Rowntree
                CTAutomotive@mhpc.com

Charlie Barker

Charlie Protheroe

 

Liberum (Nominated Adviser and Broker)
 
                Tel: +44 (0)20 3100 2000

Richard Lindley

Benjamin Cryer

 

Notes to editors

 

CT Automotive is engaged in the design, development and manufacture of bespoke
automotive interior finishes (for example dashboard panels and fascia
finishes) and kinematic assemblies (for example air registers, arm rests,
deployable cup holders and storage systems), as well as their associated
tooling, for the world's leading automotive original equipment suppliers
("OEMs") and global Tier One manufacturers.

 

The Group is headquartered in the UK with a low-cost manufacturing footprint.
Key production facilities are located in Shenzhen and Ganzhou, China
complemented by additional manufacturing facilities in Turkey, the Czech
Republic and the UK.

 

CT Automotive's operating model enables it to pursue a price leadership
strategy, supplying high quality parts to customers at a lower overall landed
cost than competitors. This has helped the Group build a high-quality roster
of OEM end customers, both directly and via Tier One suppliers including
Faurecia and Marelli. End customers include volume manufacturers, such as
Nissan, and luxury car brands such as Bentley and Lamborghini. In addition,
the Group supplies electric car manufacturers, including Lucid. It has also
recently started working with e.Go Mobile, a German manufacturer which plans
to launch a series of small electric vehicles for the budget end of the
market.

 

The Group currently supplies component part types to over 47 different models
for 19 OEMs. Since its formation, the Group has been the only significant new
entrant into the market, which is characterised by high barriers to entry.

 

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