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.