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HYR - Hydrodec News Story

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Last Trade - 9:14am

Market Cap £1.12m
Enterprise Value £11.5m
Revenue £11.9m
Position in Universe 1788th / 1819

HydroDec Group plc - Result of AGM

Thu 20th June, 2019 5:49pm
RNS Number : 9573C
HydroDec Group plc
20 June 2019
 

20 June 2019

 

Hydrodec Group plc

("Hydrodec", the "Company" or the "Group")

 

Result of AGM

 

Hydrodec Group plc (AIM: HYR), the clean-tech industrial oil re-refining group, announces that at its Annual General Meeting held earlier today, all resolutions were duly passed on a poll.

                                                                                                                             

The voting results for the resolutions are included below:

 

 Resolution

Votes For*

% of votes cast

Votes Against

% of votes cast

Total votes cast

% of issued share capital voted

1.   To receive the Report and Accounts for the year ended 31 December 2018

18,137,130

100.00

Nil

0.00

18,137,130

63.92

2.   To re-elect Dame Mary Archer as a director of the Company

17,972,718

99.09

164,448

0.91

18,137,166

63.92

3.   To re-elect Andrew Black as a director of the Company

18,135,596

99.996

808

0.004

18,136,404

63.92

4.   To re-elect David Dinwoodie as a director of the Company

18,135,420

99.99

984

0.01

18,136,404

63.92

5.   To elect Christopher Ellis as a director of the Company

18,135,120

99.99

1,284

0.01

18,136,404

63.92

6.   To re-elect Lord Moynihan as a director of the Company

18,135,595

99.99

1,571

0.01

18,137,166

63.92

7.   To re-appoint KPMG LLP as auditors of the Company

18,135,887

99.997

489

0.003

18,136,376

63.92

8.   To authorise the Directors to determine the remuneration of the auditors

18,136,968

99.999

200

0.001

18,137,168

63.92

9.   To authorise the Directors to allot relevant securities under section 551 of the Companies Act 2006

17,972,447

99.09

164,719

0.91

18,137,166

63.92

10.   To empower to a limited extent the Directors to allot shares as if section 561(1) of the Companies Act 2006 did not apply

17,971,947

99.09

165,219

0.91

18,137,166

63.92

11.   To authorise the Company to make     market purchases of its own shares

17,973,523

99.10

163,643

0.90

18,137,166

63.92

 *Votes "For" include votes giving the Chairman discretion.

 

For further information please contact:

 

Hydrodec Group plc              

 

hydrodec@vigocomms.com

Lord Moynihan, Executive Chairman

David Dinwoodie, Chief Executive Officer 

 

 

 

Arden Partners plc (Nominated Adviser and Broker)  

 

 

0207 614 5900

Corporate Finance: Ciaran Walsh, Maria Gomez De Olea

Sales:  Aimee Kerslake

 

 

 

Vigo Communications (PR adviser to Hydrodec)  

 

 

020 7390 0230

Patrick d'Ancona

Chris McMahon

 

 

 

Notes to Editors:

 

Hydrodec Group plc is a clean-tech industrial oil re-refining group with operations in the USA.

 

Hydrodec's technology is a proven, highly efficient, oil re-refining and chemical process principally targeted at the multi-billion US dollar market for transformer oil used by the world's electricity industry. MarketsandMarkets forecasts that the global transformer oil market is expected to grow from USD 1.98 billion in 2015 to USD 2.79 billion by 2020 at a CAGR of 7.14%.

 

Used transformer oil is processed with distinct competitive advantage delivered through very high recoveries (near 100%), producing 'as new' high quality oils at competitive cost and without environmentally harmful emissions. The process also completely eliminates PCBs (polychlorinated biphenyls), a toxic additive banned under international regulations.

 

In 2016 Hydrodec received carbon credit approval from the American Carbon Registry ("ACR"), enabling its product to be sold with a carbon offset and creating an incremental revenue stream. The Group is now generating carbon offsets through the re-refining of used transformer oil, which would otherwise ordinarily be incinerated or disposed of in an unsustainable manner. This is a highly distinctive feature for the Group, confirming (as far as the Board is aware) Hydrodec as the only oil re-refining business in the world to receive carbon credits for its output. This is a significant endorsement of the Company's proprietary technology and standing as a leader in its field.

 

Hydrodec's shares are listed on the AIM Market of the London Stock Exchange. For further information, please visit www.hydrodec.com.

 

 

 

 


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