REG - Proton Motor Power - Result of General Meeting

Proton Motor Power SystemsAnnouncement

07/02/2025 13:00

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RNS Number : 3869W  Proton Motor Power Systems PLC  07 February 2025

7 February 2025

 

Proton Motor Power Systems plc

("Proton Motor" or the "Company")

 

Result of General Meeting

 

Proton Motor Power Systems plc (AIM: PPS), the designer, developer and
producer of fuel cells and fuel cell electric hybrid systems with a
zero-carbon footprint, announces that at the general meeting of the Company,
held earlier today, all resolutions put to the Company's shareholders were
duly passed. As a result, the Company's ordinary shares will be cancelled from
trading on AIM at 07.00 a.m. on 17 February 2025. The proxy voting results are
as follows:

 

                       Total votes cast  Votes                             Votes                         ABSTAIN
                                         FOR                               AGAINST
                       Votes             Votes          % of shares voted  Votes      % of shares voted  Votes
 Special Resolution 1  1,241,104,921     1,238,701,081  99.81%             2,334,645  0.19%              69,195
 Special Resolution 2  1,241,104,921     1,238,706,901  99.81%             2,230,411  0.18%              167,609

 

Shareholders are reminded that the last day of dealings in the Company's
Ordinary Shares on AIM will be 14 February 2025.

 

In accordance with the passing of the Resolutions, and subject to the
Cancellation becoming effective, the Company will re-register as a private
company limited by shares with the name Proton Motor Power Systems Limited and
adopt the new articles of association with effect from such re-registration.

 

Following Cancellation, it is anticipated that the majority of the Directors
will step down and that there will only be one Director on the Board.

 

Dealing and settlement arrangements post the Cancellation

 

Following Cancellation becoming effective, there will be no market facility
for dealing in the Ordinary Shares and no price will be publicly quoted for
Ordinary Shares as from close of business on 14 February 2025. As such,
interests in Ordinary Shares are unlikely thereafter to be readily capable of
sale and where a buyer is identified, it may be difficult to place a fair
value on any such sale. While there can be no guarantee that Shareholders will
be able to sell any Ordinary Shares, any Shareholder seeking to do so
following the Cancellation should contact the Company in writing by post to
the registered office of the Company, addressed to: Proton Motor Power Systems
plc, C/O Womble Bond Dickinson (UK) LLP, 4 More London Riverside, London,
England SE1 2AU or by email to: company.secretary@protonmotor-powersystems.com
or alternatively to r.kotlarzewski@proton-motor.de. The Company will then be
able to advise as to whether the Directors are aware of any prospective buyers
for any Ordinary Shares which the holder thereof wishes to sell at that time.

 

Further details of the Cancellation, including the full text of the
Resolutions, can be found in the Circular which was published and sent to
shareholders on 20 January 2025 and is available on the Company's website
at  www.proton-motor.com (https://www.proton-motor.com/en/) .

 

Capitalised terms used in this announcement shall have the meanings given to
such terms in the announcement issued by the Company dated 20 January 2025
unless otherwise defined herein.

 

For further information:

 

 Proton Motor Power Systems Plc
 Dr Faiz Nahab, CEO
 Roman Kotlarzewski, CFO                              +49 (0) 173 189 0923
                                                      www.protonpowersystems.com
 Allenby Capital Limited
 Nominated Adviser & Broker                           +44 (0) 20 3328 5656
 James Reeve / Vivek Bhardwaj

 Celicourt Communications
 PR Adviser                                           +44 (0) 20 7770 6424 / protonmotor@celicourt.uk
 Mark Antelme / Philip Dennis /

 Charlie Denley-Myerson

 About Proton Motor

 

Proton Motor has 25 years of experience in Power Solutions using CleanTech
technologies such as hydrogen fuel cells, fuel cell and hybrid systems with a
zero carbon footprint. Based in Puchheim near Munich, Proton Motor develops
and produces standard Products as well as customised solutions.  The focus of
Proton Motor is on stationary solutions, as well as heavy-duty, marine and
rail applications.  The product portfolio consists of base-fuel cell systems,
standard complete, as well as customised systems.

Proton Motor Fuel Cell GmbH is a wholly owned subsidiary of Proton Motor Power
Systems plc. The Company has been quoted on the AIM market of the London Stock
Exchange since October 2006 (code: PPS).

 

 

 

 

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