REG - PressureTechnologies - Results of 2024 Annual General Meeting

Pressure TechnologiesAnnouncement

21/03/2024 12:15

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RNS Number : 8186H  Pressure Technologies PLC  21 March 2024

21 March 2024

Pressure Technologies plc

("Pressure Technologies" or "the Company")

 

Results of 2024 Annual General Meeting

 

Pressure Technologies plc (AIM: PRES), the specialist engineering
group, announces the voting results of its 2024 annual general meeting (the
"AGM") held today.

Resolutions 1-12 were proposed by the Board and all were duly passed.

Resolution 13 was proposed by the Board as a special resolution, requiring a
75% majority of votes cast to pass. This resolution received votes in favour
equating to 66.34% of those cast and so was not passed. The Board notes this
vote against Resolution 13 and will engage with shareholders to understand
their views.

The total votes were cast as follows:

 

 Resolution                                                                              For         %      Against    %      Withheld**
 1       To receive and adopt the FY23 audited Annual Report & Financial Statements      24,236,812  99.98  6,000      0.02   11,144
 2       To approve the Directors' Remuneration Report in the FY23 Annual Report &       17,730,648  99.90  18,314     0.10   6,504,964
         Financial Statements
 3       To re-appoint Nick Salmon as a Director                                         17,736,515  99.90  17,114     0.10   6,500,297
 4       To re-appoint Chris Walters as a Director                                       24,236,515  99.93  17,114     0.07   297
 5       To re-appoint Steve Hammell as a Director                                       24,236,515  99.93  17,114     0.07   297
 6       To re-appoint Mike Butterworth as a Director                                    17,736,315  99.90  17,314     0.10   6,500,297
 7       To re-appoint Tim Cooper as a Director                                          17,736,515  99.90  17,114     0.10   6,500,297
 8       To re-appoint Richard Staveley as a Director                                    24,231,551  99.91  22,078     0.09   297
 9       To re-appoint Cooper Parry as Auditor                                           24,231,312  99.95  11,500     0.05   11,144
 10      To authorise the Audit & Risk Committee to set the Auditor's remuneration       24,231,015  99.91  22,614     0.09   297
 11      To authorise the Directors to allot shares                                      16,327,509  67.32  7,926,417  32.68  0
 12      To authorise the Company to purchase its own shares*                            22,886,823  94.36  1,367,103  5.64   0
 13      To disapply pre-emption rights*                                                 16,089,797  66.34  8,164,129  33.66  0

 

* Special Resolution

** A vote withheld is not a vote in law and is not counted in the calculation
of the proportion of votes 'For' and 'Against' any of the resolutions.

 

Notes

1.    Any proxy appointments, which gave discretion to the Chair, have been
included in the 'for' votes total.

2.    At the date of the notice of the AGM the total number of shares in
issue was 38,667,163.

 

 

For further information, please contact:

   Pressure Technologies plc                   Tel: 0333 015 0710

   Chris Walters, Chief Executive              company.secretary@pressuretechnologies.co.uk

   Steve Hammell, Chief Financial Officer
   Singer Capital Markets (Nomad and Broker)   Tel: 0207 496 3000

   Rick Thompson / Asha Chotai

COMPANY DESCRIPTION

 

www.pressuretechnologies.com (http://www.pressuretechnologies.com/)

 

With its head office in Sheffield, the Pressure Technologies Group was founded
on its leading market position as a designer and manufacturer of
high-integrity, safety-critical components and systems serving global supply
chains in oil and gas, defence, industrial and hydrogen energy markets.

The Group has two divisions:

 

·    Chesterfield Special Cylinders (CSC) - www.chesterfieldcylinders.com
(http://www.chesterfieldcylinders.com/)

·    Precision Machined Components (PMC) - www.pt-pmc.com
(http://www.pt-pmc.com/)

o  Includes the Al-Met, Roota Engineering and Martract sites.

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