Sulnox Group PLC

Board/Management Information • Oct 23, 2020

National Storage Mechanism | Additional information

RNS Number : 1003D

SulNOx Group PLC

23 October 2020

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.  The directors take responsibility for this announcement.

23 October 2020

SulNOx Group Plc (the "Company" or "SulNOx")

Result of AGM, Resignation of Auditors and Company Update

(Aquis Stock Exchange: SNOX)

AGM Results

The Company held its annual general meeting ("AGM") earlier today.  The AGM was a closed meeting due to the current Covid-19 restrictions, with only the required number of members for the meeting to be quorate and all resolutions being voted by proxy.  The results of the resolutions were as follows:

Resolution 1 - Receiving and Considering the Accounts

78,512,880 in favour, 0 against

The resolution was therefore passed.

Resolution 2 - Re-Appointment of Director

13,000,441 in favour, 65,398,116 against

The resolution was therefore not passed, however Ingeborg Majken Korsgård resigned as a director yesterday, as announced this morning.

Resolution 3 - Reappointment of Auditors

78,512,880 in favour, 0 against

This resolution was therefore passed, however as stated below, Shipleys LLP have today resigned as auditors of the Company.

Resolution 4 - Directors' Authority to Allot Shares

230,441 in favour, 78,012,439 against

The resolution was therefore not passed.

Resolution 5 - Disapplication of Pre-emption Rights

500,441 in favour, 78,012,439 against

The resolution was therefore not passed.

Resolution 6 - Authority to purchase the Company's own shares

500,441 in favour, 78,012,439 against

The resolution was therefore not passed.

Resignation of Auditors

The Company has today received a letter of resignation from Shipleys LLP, the auditors of the Company and its two wholly owned subsidiaries, SulNOx Research and Development Limited and SulNOx Fuel Fusions Limited.  Shipleys LLP have confirmed that there are no circumstances connected with their ceasing to hold office which they consider should be brought to the attention of the members or creditors of the Company under section 519 of the Companies Act 2006.

Company Update

As announced earlier today, Graham Lyon, previously independent non-executive chairman, resigned from the board of directors (the "Board") with effect from the completion of the earlier AGM, following Majken Korsgaard, independent non-executive director, who resigned yesterday.   The Board therefore now consists of Nicholas Nelson, Chief Executive Officer (who was reappointed to the Board today) and Simon Retter, Finance Director.

As announced on 16 October 2020, a request to requisition a general meeting of the Company ("General Meeting") had been received to remove Mr Lyon, Ms Korsgaard and Mr Retter as directors of the Company and to appoint four new directors.  Previously, as announced on 4 September 2020, a similar request had been received to remove Mr Nelson, who stood down on 21 September 2020, but re-joined the Board with effect from today.  The Board will discuss with its advisers how best to address matters following lack of confidence expressed by certain shareholders as evidenced by the results of the AGM resolutions and the requisition requests for General Meetings.

Enquiries:

SulNOx Group Plc Nicholas Nelson, Chief Executive	[email protected]
Media and Investors: Flagstaff Strategic and Investor Communications Tim Thompson / Fergus Mellon	[email protected] 020 7129 1474
AQSE Corporate Adviser: Allenby Capital Limited John Depasquale / Nick Harriss / James Hornigold	020 3328 5656

The directors take responsibility for this announcement.

Information on Mr Nelson under Appendix 1 of the AQSE Growth Market Rules for Issuers

Nicholas Christian Paul Nelson, Age 55

Current Directorships

SULNOX RESEARCH & DEVELOPMENT LTD

SULNOX FUEL FUSIONS LTD

KATS2020 LIMITED

PHIMEDIX PLC

Former Directorships within the previous 5 years

SULNOX PLC

EQUATORIAL MINE & EXP LIMITED

EASTINCO MINING AND EXPLORATION PLC

MATTHEWS FLOWER GROUP PLC

ZAIM CREDIT SYSTEMS PLC

AMASYA RESOURCES LIMITED

Mmultimedia Factory (U.K.) Ltd In 1997, Nicholas Nelson was a director in Mmultimedia Factory (U.K.) Ltd (also known as Multimedia Factory (UK) Ltd) that was subject to a winding up order due to the deficiency towards creditors amounting to GBP 44,014.00. As the amounts due were mainly loans and expenses of directors, no further action was taken and the winding up process was closed.

Mr Nelson holds 270,000 ordinary shares of 2 pence each in the capital of the Company.

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