REG - Flowtech Fluidpower - Results of Voting AGM - 5 June 2019 and TVR

Flowtech FluidpowerAnnouncement

05/06/2019 11:00

RNS Number : 2293B
Flowtech Fluidpower PLC
05 June 2019
 





NEWS RELEASE
Issued on behalf of Flowtech Fluidpower plc
Wednesday, 5 June 2019
Immediate Release
 








FLOWTECH FLUIDPOWER PLC
("Flowtech Fluidpower" the "Group" or "Company")
 
Results of Voting at Annual General Meeting




 
 
Flowtech Fluidpower plc ('the Company') announces that all resolutions contained in the Notice of Annual General Meeting dated 8 May 2019, previously circulated to the Company's shareholders were passed by way of a show of hands at the Annual General Meeting ('AGM') of the Company held earlier today (5 June 2019). The full text of each of the resolutions as set out in the Notice of AGM.  Details of the proxy voting instructions lodged prior to the AGM for each resolution (all of which were passed on a show of hands) are shown in the table below.
Number of shareholders in attendance: 5



RESOLUTIONS


TOTAL PROXY VOTES RECEIVED
(excluding votes withheld)


TOTAL FOR AND AT DISCRETION


TOTAL AGAINST


TOTAL WITHHELD




ORDINARY BUSINESS:




















Resolution 1
To receive the Company's Annual Report and Accounts, Strategic Report and Directors' and Auditors' Reports for the year ended 31 December 2018.


29,777,336


29,771,047
 


6,289
 


0




Resolution 2
To approve the final dividend for the year ended 31 December 2018 of 4.04 pence per Ordinary Share.


29,777,336


29,769,726
 


7,610
 


0




Resolution 3
To re-appoint Russell Cash as a Director of the Company.


29,777,336


29,759,783
 


16,089
 


1,464
 




Resolution 4
To re-appoint Bill Wilson as Director of the Company.


29,777,336


29,767,506
 


8,366
 


1,464
 




Resolution 5
To re-appoint Bryce Brooks as a Director of the Company.


29,777,336


29,767,506
 


8,366
 


1,464
 




Resolution 6
To re-appoint Malcolm Diamond as a Director of the Company.


29,777,336


29,759,773
 


16,099
 


1,464
 




Resolution 7
To re-appoint Nigel Richens as a Director of the Company.


29,777,336


29,767,506
 


8,366
 


1,464
 




Resolution 8
.           To re-appoint Grant Thornton UK LLP as Auditor of the Company to hold office until the conclusion of the next general meeting.


29,777,336


29,769,583
 


7,753
 


0




Resolution 9
To authorise the Directors to determine the remuneration of the Auditors.


29,777,336


29,768,086
 


9,250
 


0




Resolution 10
To authorise the Company and its subsidiaries to make political donations and to incur political expenditure.


29,777,336


24,338,059
 


5,423,783
 


15,494
 




Resolution 11
To authorise the Directors to allot shares in the Company.


29,777,336


29,613,846
 


163,490
 


0



 



SPECIAL BUSINESS:




















Resolution 12
Disapplication of pre-emption rights.
(In line with current Institutional Shareholder guidelines - to authorise the Directors to allot shares for cash without first offering them to existing Shareholders on a pro‑rata basis)


29,777,336


28,747,753
 


1,025,304
 


4,279
 




Resolution 13
To authorise the Company to purchase own Shares.
(up to 10% of the Issued Share Capital)


29,777,336


29,768,262
 


5,864
 


3,210
 



 
The 'for' vote includes those giving discretion to the Chairman.  A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution.
 
At today's date, 5 June 2019, there were 61,078,367 Flowtech Fluidpower plc ordinary shares of 50p each in issue. Ordinary shareholders are entitled to one vote per share held.
 
The 2018 Annual Report and Financial Statements for the period ended 31 December 2018, together with the Notice of AGM, are available to view on the Company's website www.flowtechfluidpowerplc.com.  In addition, this announcement is available on the Company's investor website within: https://www.flowtechfluidpower.com/investors/regulatory-news



 
 
 



ENQUIRIES:




FLOWTECH FLUIDPOWER PLC




Russell Cash, Chief Financial Officer & Company Secretary
Tel: +44 (0) 1695 52796
Email: info@flowtechfluidpower.com










Zeus Capital Limited (Nominated Adviser and Joint Broker)
Andrew Jones, Alistair Donnelly (Corporate Finance)
Dominic King, John Goold (Sales & Broking)
Tel: + 44 (0) 20 3829 5000










finnCap Limited (Joint Broker)
Ed Frisby, Kate Bannatyne (Corporate Finance)
Rhys Williams, Andrew Burdis (Sales & Broking)
Tel: + 44 (0) 20 7220 0500










TooleyStreet Communications (IR and media relations)
Fiona Tooley
Tel: +44 (0) 7785 703523 or email: fiona@tooleystreet.com



 
 
About Flowtech Fluidpower plc



Founded as Flowtech in 1983, the Flowtech Fluidpower Group is the UK's leading specialist supplier of technical fluid power products. 
The business joined AiM in 2014.  Today, the Group has two distinct divisions:
 




Division:


What we do:


Locations:




Components


Supply of hydraulic and pneumatic consumables, predominantly through distribution for urgent maintenance and repair operations across all industry sectors.  Additionally, support a broad range of OEMs supplying off-the-shelf and tailored components and assemblies.


Flowtechnology Benelux (Deventer)
Flowtechnology China (Guangzhou)
Flowtechnology UK (Skelmersdale)
Indequip (Skelmersdale)
Beaumanor (Leicester)
Hydravalve (Willenhall)
Primary Fluid Power Components (Knowsley)
Albroco (Knowsley)
Nelson Hydraulics (Dublin, Lisburn, Dungannon, UK)
HTL (Ludlow)
Hi-Power Hydraulics (Cork, Dublin, Belfast Manchester)
Hydroflex (Brussels, Rotterdam and OudBeijerland)
Hydraulic Equipment Supermarkets (Gloucester, Leeds, Birmingham, Durham)
Derek Lane & Co (Newton Abbot, Devon)
HES Tractec (Gloucester)
 




Services


Bespoke design, manufacturing, commissioning, installation and servicing of systems to manufacturers of specialised industrial and mobile hydraulic original equipment manufacturers (OEMs) and additionally a wide range of industrial end users.
 


Primary Fluid Power Systems (Knowsley)
TSL Fluid Power (West Yorkshire)
Branch Hydraulic Systems and HES Automatec (Gloucester)
HES Lubemec (Gloucester)
HES Onsite (Durham, Leeds, Birmingham, Gloucester)
Flow Connect (Gloucester)
Orange County (Spennymoor)
 




Both Group's divisions have overlapping product sets, allowing procurement synergies to be maximised.




The above divisions are supported by a centralised back office team based at the Skelmersdale, Lancashire, and Wilmslow, Cheshire sites in the UK and a procurement and quality control team in Shanghai, China.  In total, the business employs over 550 people.  For more information please visit, www.flowtechfluidpower.com



 




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