MICROSAIC SYSTEMS PLC

AGM Information • Dec 12, 2024

National Storage Mechanism | Additional information

RNS Number : 7493P

Microsaic Systems plc

12 December 2024

12 December 2024

Microsaic Systems plc

("Microsaic", "Microsaic Systems" or the "Company")

Result of Annual General Meeting, Qatar Project Update & Change of Name to Metir plc

Microsaic Systems plc (AIM: MSYS), an international developer and provider of testing solutions for unique and underserved public health and environmental markets,  is pleased to announce that at the Company's Annual General Meeting held yesterday, all resolutions proposed were duly passed on a show of hands with the following table summarising the proxy votes:

	Votes for	Votes against	Approval	Withheld
Ordinary Resolutions	Shares	Shares	%	Shares
1.    To approve the  Annual Report and Accounts for the year ended 31 December 2023.	93,449,020	1,202,094	98.7	1,233
2.    To re-elect Nigel Burton as a director.	93,350,901	1,300,213	98.6	1,233
3.    To re-appoint and authorise the remuneration of the Company's auditor.	94,643,439	7,675	100.0	1,233
4.    To change the name of the Company from Microsaic Systems plc to Metir plc.	94,639,268	11,846	100.0	1,233
5.    Authority to allot shares	93,036.938	1,607,136	98.3	8,273
Special Resolution
6.    Disapplication of shareholders' statutory pre-emption rights	93,036,938	1,607,136	98.3	8,273

A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'For' or 'Against' a resolution.

Qatar Project Update

This year has been a period of necessary and successful integration of Modern Water technologies with those of Microsaic Systems. We are pleased that the reset and investment in our new business model is producing successful results that are starting to come to fruition. Building on current sales and projects we have good and complementary technologies that the Company intends to bring into the wider and large potential market. We believe 2025 will be an exciting and groundbreaking year for the Company. We intend to position ourselves for growth and ensure that we can successfully exploit the wide ranging opportunities available to us.

The Company has agreed with Avanceon, its main contractor partner in Qatar, that supply of the remaining of associated supplies for the Continuous Toxic Measuring equipment will be delivered in December 2024 for final commissioning of the project as planned. Accordingly it has been agreed that the entire first tranche invoice of Eur228k will now be paid by Avanceon to the Company in December 2024. After final commissioning of the project the Company expects to discuss the potential of additional related equipment and supplies with Avanceon for wider application throughout Qatar.

Change of name to Metir plc

The Board is pleased to announce that the resolution to change the Company's name to Metir plc passed its shareholder vote. The Company has applied to Companies House with regards to the name change and, in addition, the Company expects to change its ticker. A further announcement will be made when the timing of the name and ticker change will become formally effective.

All other Company details including the ISIN and SEDOL will remain unchanged. Shareholders are unaffected by the changes and existing share certificates will remain valid and should be retained.

Enquiries:

Microsaic Systems plc Bob Moore, Acting Executive Chairman	+44 (0) 20 3657 0050 via TPI
Singer Capital Markets (Nominated Adviser & Joint Broker) Alex Bond / Oliver Platts	+44 (0)20 7496 3000
Turner Pope Investments (TPI) Limited (Joint Broker) Andy Thacker / James Pope	+44 (0) 20 3657 0050

About Microsaic Systems

Microsaic is highly experienced in the development, manufacture and supply of microelectronics instrumentation for markets requiring analytical testing in public and environmental health markets. The Company has recently acquired and integrated the assets of Modern Water with Microsaic Systems' technologies resulting in comprehensive water testing and other toxic testing capabilities.

Microsaic's products and solutions are commercially available through global markets via a network of regional and country specific distributors and partners.

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