REG - Flowtech Fluidpower - Result of AGM

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RNS Number : 2322N  Flowtech Fluidpower PLC  17 June 2025

 

NEWS RELEASE

Issued on behalf of Flowtech Fluidpower plc

Tuesday, 17 June 2025

 

 

FLOWTECH FLUIDPOWER PLC
("the Company")

Result of AGM

 

Flowtech Fluidpower plc ('the Company') held its Annual General Meeting (AGM)
at 10.00 am today (17 June 2025) at the Company's Registered Office, and also
provided the ability of a view-only virtual event via the Investor Meet
Company platform (IMC).

 

All Resolutions, as set out in the Notice of Meeting dated 22 May 2025, were
duly passed.

 

In relation to Resolution 10, (giving authority for Directors to issue shares
in the Company) a limited number of the Company's shareholders voted against
this resolution. The Board takes seriously its responsibilities to maintain a
constructive dialogue with shareholders and will engage with them to better
understand their views.

 

The AGM was compliant with legal requirements for the AGM in accordance with
the Company's Articles of Association. It had the necessary quorum present and
was purely functional and comprised only of the formal votes for each
Resolution.

 

Shareholders were able to submit questions regarding the business or matters
relating to the AGM business prior to the AGM via the Company website as
detailed in the Notice of Meeting.  No questions were submitted ahead of the
AGM by shareholders via the Company investor website. Questions raised during
the AGM can be viewed as part of the AGM webcast which will be available on
the IMC platform or the Company's investor website shortly.

 

The table below shows the proxy position of all Resolutions:

 Total votes lodged: 36,759,510                                                   For                               Against              Withheld

 Total number of shares in issue: 63,275,173                                      and including at discretion
                                                                                  Number           %                Number of    %

                                                                                  of votes                          votes
 Resolution 1

 To receive the Company's annual accounts, strategic report and Directors' and    36,759,510       100.00           0            0.00    0
 Auditor's reports for the year ended 31 December 2024.
 Resolution 2

 To reappoint Mike England as a Director                                          36,758,426       99.99            1,084        0.01    0

 of the Company.
 Resolution 3

 To reappoint Stuart Watson as a Director                                         36,758,426       99.99            1,084        0.01    0

 of the Company.
 Resolution 4

 To reappoint Russell Cash as a Director                                          36,758,464       99.99            1,046        0.01    0

 of the Company.
 Resolution 5

 To reappoint Ailsa Webb as a Director                                            36,753,702       99.98            5,808        0.02    0

  of the Company.
 Resolution 6

 To reappoint Jamie Brooke as a Director                                          30,738,643       96.09            1,251,921    3.91    4,768,946

 of the Company.
 Resolution 7

 To reappoint Roger McDowell as a Director                                        35,502,865       96.58            1,256,645    3.42    0

 of the Company.
 Resolution 8

 To reappoint Grant Thornton UK LLP as Auditors                                   36,696,132       99.92            30,845       0.08    32,533

 of the Company.
 Resolution 9

 To authorise the Directors to determine the remuneration of the Auditors.        36,758,165       99.99            1,345        0.01    0
 Resolution 10

 Pursuant to section 551 of the Act, to unconditionally authorise the Directors   23,588,089       64.17            13,171,421   35.83   0
 to issue shares in the Company.
 Resolution 11

 To Pursuant to section 701 of the Act, unconditionally authorise the Company     34,830,902       94.75            1,928,608    5.25    0
 to make market purchases of Ordinary shares in the capital of the Company.
 (representing up to 10% of the issued share capital).
 Resolution 12

 Capital reduction of the share premium account.                                  36,741,497       99.99            1,084        0.01    16,929

 

1.      The 'for' vote includes those giving discretion to the Chair of
the Meeting

2.      A vote withheld is not a vote in law and is not counted in the
calculation of the votes for or against a resolution

3.      Ordinary shareholders are entitled to one vote per share held

4.      The Annual Report and Financial Statements for the period ended
31 December 2024, together with the Notice of Meeting, are available to view
on the Company's website www.flowtechfluidpowerplc.com
(http://www.flowtechfluidpowerplc.com)

5.      News updates, regulatory news, and financial statements can be
viewed and downloaded from the Group's website, www.flowtechfluidpower.com
(http://www.flowtechfluidpower.com) . Copies can also be requested from: The
Company Secretary, Flowtech Fluidpower plc, Bollin House, Bollin Walk,
Wilmslow, SK9 1DP. Email: investorrelations@flowtech.co.uk
(mailto:investorrelations@flowtech.co.uk)

 

 

 FURTHER ENQUIRIES TO:
 FLOWTECH FLUIDPOWER PLC

 Mike England, Chief Executive Officer

 Russell Cash, Chief Financial Officer

 Tel: +44 (0) 1695 52759

 Email: investorrelations@flowtech.co.uk
 (mailto:investorrelations@flowtech.co.uk)

 Panmure Liberum (Nominated Adviser and Joint Broker)

 Nicholas How, Managing Director, Head of Business Services and Industrials

 William King, Assistant Director, Investment Banking

 Tel: +44 (0) 20 3100 2000

 Singer Capital Markets (Joint Broker)

 Tom Salvesen, Head of Investment Banking

 James Todd, Associate, Investment Banking

 Tel: +44 (0) 207 496 3000

 TooleyStreet Communications (IR and media relations)

 Fiona Tooley

 Tel: +44 (0) 7785 703523

 Email: fiona@tooleystreet.com (mailto:fiona@tooleystreet.com)

 

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