FLOWTECH FLUIDPOWER PLC — AGM Information 2021

Jun 3, 2021

National Storage Mechanism | Additional information

RNS Number : 7636A

Flowtech Fluidpower PLC

03 June 2021

NEWS RELEASE Issued on behalf of Flowtech Fluidpower plc Thursday, 3 June 2021

FLOWTECH FLUIDPOWER PLC

ANNUAL GENERAL MEETING - RESULTS OF VOTING

and

TOTAL VOTING RIGHTS

Flowtech Fluidpower plc ('the Company') held its Annual General Meeting (AGM) at 10 am today and did so in line with current Covid-19 UK Government guidance on public gatherings. 

The AGM, with the minimum necessary quorum of two shareholders attending in person was purely functional and comprised only of the formal votes for each Resolution and was compliant with legal requirements for the AGM as set out in the Company's Articles of Association. Shareholders were able to submit any questions regarding the business prior to the AGM via the website as stated in the formal Notice of Meeting (NOM), however, none were received.

Except for Resolution 9, all Resolutions as previously set out in the NOM dated 7 May 2021, were duly passed.

The table below shows the proxy position of all Resolutions:

RESOLUTIONS	FOR (including Discretion)		AGAINST		TOTAL VOTES RECEIVED (excluding votes withheld)		WITHHELD
	No. of votes	%	No. of votes	%	No. of votes	%	No. of votes
Resolution 1 To receive the Company's Annual Report and Accounts, Strategic Report and Directors' and Auditors' Reports for the year ended 31 December 2020.	37,785 751	99.98%	7,377	0.02%	37,793,128	100%	0
Resolution 2 To re-appointment of Paul Gedman as a Director of the Company.	37,785 751	99.98%	7,377	0.02%	37,793,128	100%	0
Resolution 3 To re-appoint Roger McDowell as a Director of the Company.	37,610,039	99.52%	183,089	0.48%	37,793,128	100%	0
Resolution 4 To re-appoint Russell Cash as a Director of the Company.	37,785,751	99.98%	7,377	0.02%	37,793,128	100%	0
Resolution 5 To re-appoint Bryce Brooks as a Director of the Company.	37,785,751	99.98%	7,377	0.02%	37,793,128	100%	0
Resolution 6 To re-appoint Nigel Richens as a Director of the Company.	37,785,751	99.98%	7,377	0.02%	39,793,128	100%	0
Resolution 7 To re-appoint Grant Thornton UK LLP as Auditors of the Company.	37,783,218	99.98%	7,377	0.02%	37,790,595	100%	2,533
Resolution 8 To authorise the Directors to determine the remuneration of the Auditors.	37,785,751	99.98%	7,377	0.02%	37,793,128	100%	0
Resolution 9 To authorise the Company and its subsidiaries to make political donations and to incur political expenditure.	15,775,900	41.75%	22,009,228	58.25%	37,785,128	100%	8,000
Resolution 10 To authorise the Directors to allot relevant shares in the Company.	27,450,304	72.63%	10,342,824	27.37%	37,793,128	100%	0
Resolution 11 Subject to the passing of resolution 10, to authorise the Directors to allot shares for cash without first offering them to existing Shareholders on a pro‑rata basis.	33,039,401	87.42%	4,753,727	12.58%	37,793,128	100%	0
Resolution 12 To authorise the Company to make market purchases in its own Shares (representing up to 10% of the issued share capital).	37,768,863	99.94%	24,265	0.06%	37,793,128	100	0

Notes:

1.     The 'for' vote includes those giving discretion to the Chairman. 

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.     Number of shareholders in attendance: 2

5.     The Annual Report and Financial Statements for the period ended 31 December 2020, together with the NOM, are available to view on the Company's website www.flowtechfluidpowerplc.com.  In addition, this announcement will be available on the Company's investor website within: https://www.flowtechfluidpower.com/investors/regulatory-news

The Company recognises that a significant proportion of the votes were cast against Resolutions 9 and 10, with Resolution 9 being voted down.  The Board takes seriously its responsibilities to maintain a healthy dialogue with shareholders and has already engaged with several of them to better understand their concerns.  We will continue to listen to their views and will publish an update on our website in a timely fashion.

TOTAL VOTING RIGHTS (TVR)

For the purposes of the Financial Conduct Authority's ("FCA") Disclosure and Transparency Rules, at today's date, 3 June 2021, there were 61,492,673 Flowtech Fluidpower plc ordinary shares of £0.50 each in issue.  The Company does not hold any Ordinary Shares in Treasury.  Therefore, the total number of Ordinary Shares carrying voting rights in the Company is 61,492,673.  Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the FCA's Disclosure and Transparency Rules.

Enquiries to:

Flowtech Fluidpower plc

Russell Cash, Chief Financial Officer & Company Secretary

Tel: +44 (0) 1695 52759 or email: info@flowtechfluidpower.com 

LSE: AIM symbol: FLO

Zeus Capital Limited (Nominated Adviser and Broker)

Andrew Jones, Kieran Russell (corporate finance)

Dominic King, John Goold (sales & broking)

Tel: +44 (0) 161 831 1512

finnCap Capital Markets (Joint Broker)

Ed Frisby, Kate Bannatyne (Corporate Finance)

Rhys Williams, Andrew Burdis (Sales & Broking)

Tel: + 44 (0) 20 7220 0500

TooleyStreet Communications (IR and media relations)

Fiona Tooley

Tel: +44 (0) 7785 703523 or email: fiona@tooleystreet.com 

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 or visit 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.

END

RAGSSDFEDEFSEEM