PRES.L

Pressure Technologies Plc
PressureTechnologies - Results of 2024 Annual General Meeting
21st March 2024, 12:10
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RNS Number : 8186H
Pressure Technologies PLC
21 March 2024
 

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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 & Financial Statements

17,730,648

99.90

18,314

0.10

6,504,964

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

  Chris Walters, Chief Executive

  Steve Hammell, Chief Financial Officer

Tel: 0333 015 0710

company.secretary@pressuretechnologies.co.uk

  Singer Capital Markets (Nomad and Broker)

  Rick Thompson / Asha Chotai

Tel: 0207 496 3000

COMPANY DESCRIPTION

 

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 

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

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

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