POS Plexus Holdings Plc

TIDMPOS

RNS Number : 1898K

Plexus Holdings Plc

30 December 2020

Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

Plexus Holdings PLC ('Plexus' or 'the Company')

Result of AGM

Plexus Holdings PLC, the AIM quoted oil and gas engineering services business, is pleased to announce that, at the Annual General Meeting held earlier today which was held as a closed meeting as a result of the pandemic and at which the required quorum was present, each of the resolutions ("Resolutions") set forth in the Notice convening the meeting were passed. The Chairman of the meeting demanded a poll of votes on all of the resolutions proposed, each of which were passed by an excess of votes cast in favour of the requisite majority.

**ENDS**

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 
 

NOTES:

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, both organically and through licence partners. In line with this, in November 2020 Plexus entered into a licence agreement with Cameron International Limited, which grants the Schlumberger group company a non-exclusive licence to use the POS-GRIP and HG(R) metal-to-metal seal method of wellhead engineering for the development of conventional and unconventional oil and gas surface wellheads.

Plexus' suite of ongoing products and applications include: "HG" 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 Joint Industry Project 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. The Company also has a collaboration agreement in place 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

RAGFDMFISESSEDE

(END) Dow Jones Newswires

December 30, 2020 10:45 ET (15:45 GMT)

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