REG - Plexus Holdings Plc - AGM Statement

Plexus HoldingsAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260116:nRSP1326Pa&default-theme=true

RNS Number : 1326P  Plexus Holdings Plc  16 January 2026

16 January 2026

Plexus Holdings PLC

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

 

AGM Statement

 

Plexus Holdings PLC (AIM: POS), the AIM quoted wellhead services business,
will hold its Annual General Meeting ('AGM') today. At the AGM, CEO Craig
Hendrie will make the following statement on behalf of Non-Executive Chair Ben
Van Bilderbeek:

 

"The past year has been one of rebuilding and repositioning for Plexus. While
our reported results reflect a deliberate investment phase following an
exceptional prior year, we made solid operational progress, strengthened the
balance sheet and continued to invest in the long-term capability of the
business. In particular, we focused on expanding our rental wellhead
inventory, which sits at the heart of our short-term growth strategy.

 

"Looking ahead, our focus remains on disciplined execution. During 2026, we
expect to have 16 Exact rental wellhead systems available for deployment,
creating a larger, high quality asset base. This inventory is intended to
support repeat utilisation across multiple projects and geographies and
provide more predictable and resilient revenue streams.

 

"We are cautiously encouraged by the outlook across our key markets. Rental
operations are expected to commence imminently in the Middle East, where we
now have a permanent presence, and North America during 2026, alongside
further opportunities in the North Sea. Notably, our technology is
particularly well suited to jack-up drilling, decommissioning and CCS
applications, where activity levels are forecast to improve.

 

"Beyond the rental fleet, Plexus has a strong and differentiated suite of
intellectual property that is ready for deployment. This includes further
applications of POS-GRIP Technology, such as the Python subsea wellhead
system, which will provide significant value over time both in rental and
production applications

 

"Taken together, these developments provide a solid platform for the next
phase of the Group's development. This confidence is shared at Board level, as
evidenced by several board members including myself taking part in the March
2025 fundraise and my £2 million loan to the Company towards the end of the
year, which underlines our strong belief in Plexus' strategy.

 

"With an expanded rental fleet, multiple market drivers across key
geographies, and a continued focus on cost control and delivery, the Board
remains confident that Plexus is well positioned to build sustainable value
for shareholders over the medium term."

 

ENDS

 

For further information please visit www.plexusplc.com
(http://www.plexusplc.com) or contact:

 

 Plexus Holdings PLC                Tel: 01224 774222

 Craig Hendrie, CEO

 Mike Park, CFO

 Cavendish Capital Markets Limited  Tel: 0131 220 6939

 Derrick Lee

 St Brides Partners Ltd             plexus@stbridespartners.co.uk

 Isabel de Salis

 Paul Dulieu

 Will Turner

 

NOTES

Plexus Holdings plc (AIM: POS) (www.plexusplc.com (http://www.plexusplc.com) )
is an Aberdeen-headquartered specialist in innovative wellhead systems and
related products for offshore operations. Renowned for its POS-GRIP® and HG®
metal-to-metal sealing technologies, Plexus delivers solutions that reduce
operational risk, prevent blowouts, cut methane emissions and lower
maintenance costs, supporting the oil and gas industry's ESG and Net Zero
objectives. The Company focuses on jack-up rig applications across
exploration, appraisal and plug and abandonment, as well as emerging markets
including carbon capture and storage, hydrogen and geothermal, working with
major partners including SLB and TechnipFMC.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGMSFLFWIEMSEEF



            Copyright 2019 Regulatory News Service, all rights reserved