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RNS Number : 6357V
Plexus Holdings Plc
09 April 2019
Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil Equipment & Services
Plexus Holdings PLC ('Plexus' or 'the Company')
Result of General Meeting
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP(R) friction-grip method of wellhead engineering, is pleased to announce that the resolution put to shareholders (the "Resolution") at the General Meeting of the Company held earlier today was passed on a show of hands without a poll of votes being demanded.
Following the passing of the Resolution, the Company will proceed with the proposed cancellation of its Share Premium Account in accordance with the Expected Timetable of Principal Events as notified in the Circular to shareholders dated 13 March 2019 and posted to them shortly thereafter.
Further details of, inter alia, the background to and reasons for the proposed cancellation of the Company's Share Premium Account are set out in the Circular. The Circular is available on the Company's website at www.plexusplc.com. Terms defined in the Circular have the same meanings in this announcement.
For further information please visit www.posgrip.com or contact:
Ben van Bilderbeek Plexus Holdings PLC Tel: 020 7795 6890
Graham Stevens Plexus Holdings PLC Tel: 020 7795 6890
Derrick Lee Cenkos Securities PLC Tel: 0131 220 9100
Frank Buhagiar St Brides Partners Ltd Tel: 020 7236 1177
Isabel de Salis St Brides Partners Ltd Tel: 020 7236 1177
AIM-traded oil and gas engineering services company Plexus (AIM: POS) is an IP-led company that has developed a range of products and applications based on its patent-protected POS-GRIP friction-grip technology. Having proved the superior qualities of POS-GRIP within the jack-up wellhead exploration market through the sale of this business to FMC Technologies Limited, a subsidiary of TechnipFMC (Paris:FTI, NYSE:FTI) (jointly "TFMC"), in early 2018, the Company is now focused on establishing its technology and equipment in other markets including surface production wellheads, subsea and de-commissioning.
Its suite of ongoing products and applications include: "HG"(TM) Wellheads, which combine POS-GRIP Technology with Gas Tight metal sealing; the Python(R) Subsea Wellhead (a new standard for subsea wellheads - developed in a JIP supported by Royal Dutch Shell, BG (now owned by Shell), Wintershall, Total, Maersk (now owned by Total), Tullow Oil, eni, Senergy (now Lloyds register), and Oil States Industries Inc); the POS-SET(TM) Connector for the growing de-commissioning and abandonment market; and Tersus-PCT, an innovative HP/HT Tie-Back connector product. Importantly, the Company also has a Collaboration Agreement with TFMC, which provides a platform to further develop and commercialise these and other applications based on its POS-GRIP technology.
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(END) Dow Jones Newswires
April 09, 2019 06:29 ET (10:29 GMT)