REG - CT Automotive Group - Result of AGM

CT AutomotiveAnnouncement

28/06/2024 12:00

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RNS Number : 3848U  CT Automotive Group PLC  28 June 2024

28 June 2024

 

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
9:00 a.m. today were duly passed.

 

The total number of proxy 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  Withheld
 Ordinary Resolutions
 1       To receive the Annual Report and Accounts for year ending 31 December 2023      50,111,721  100.00%  0              0%         50,111,721  68.09%                                         0
 2       To reappoint Raymond Bench as a Director of the Company.                        50,111,721  100.00%  0              0%         50,111,721  68.09%
 3       To reappoint Francesca Ecsery as a Director of the Company                      50,111,721  100.00%  0              0%         50,111,721  68.09%                                         0
 4       To reappoint Nick Timberlake as a Director of the Company                       50,111,721  100.00%  0              0%         50,111,721  68.09%                                         0
 5       To reappoint Geraint Davies as a Director of the Company                        50,111,721  100.00%  0              0%         50,111,721  68.09%                                         0
 6       To reappoint Simon Phillips as a Director of the Company                        50,111,721  100.00%  0              0%         50,111,721  68.09%                                         0
 7       To reappoint Anna Brown as a Director of the Company                            50,111,721  100.00%  0              0%         50,111,721  68.09%                                         0
 8       To reappoint BDO LLP as auditors of the Company                                 50,111,721  100.00%  0              0%         50,111,721  68.09%                                         0
 9       To authorise the Audit and Risk Committee to determine the remuneration of the  50,111,721  100.00%  0              0%         50,111,721  68.09%                                         0
         Company's auditors
 10      Authority for directors to allot shares                                         50,111,721  100.00%  0              0%         50,111,721  68.09%                                         0

 Special Resolutions
 11      Authority for directors to allot shares on a non-pre-emptive basis              44,672,045  89.14%   5,439,676      11%        50,111,721  68.09%                                         0

 

 

 

 

For further information please contact:

 CT Automotive                                     Via Novella

 Simon Phillips, Chief Executive Officer

 Anna Brown, Chief Financial Officer

 Novella Communications                            Tel: +44 (0)20 3151 7008

 Tim Robertson, Claire de Groot, Safia Colebrook   ctautomotive@novella-comms.com

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

 Richard Lindley

 

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 Mexico, Türkiye and
Czechia.

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
portfolio of OEM customers, both directly and via Tier One suppliers including
Forvia and Marelli.  End customers include volume manufacturers, such as
Nissan, Ford, GM and Volkswagen Audi Group, and premium luxury car brands such
as Bentley and Lamborghini.  In addition, the Group supplies all our customer
base with a range of products for PHEV and BEV platforms and supplies electric
car manufacturers, including Rivian and a US based major EV OEM.

The Group currently supplies component part types to over 57 different models
for 22 OEMs. Since its formation, the Group has been one of the very few new
entrants to the market, which is characterised by high barriers to entry.

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