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NEWS RELEASE
Issued on behalf of
Flowtech Fluidpower
plc
Immediate Release
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Tuesday, 11 June 2024
Flowtech
Fluidpower plc
Result of
AGM
Flowtech Fluidpower plc
('the Company') held its Annual General Meeting (AGM) at 10.00 am today at the
Company's Registered Office, and also provided the ability of a
view-only virtual event via the Investor Meet Company platform
(IMC).
The AGM was compliant with legal
requirements for the AGM in accordance with the Company's Articles
of Association. It had the necessary quorum present and was purely
functional and comprised only of the formal votes for each
Resolution.
All Resolutions, as set out in the
Notice of Meeting dated 16 May 2024, were duly passed. In
relation to Resolution 11, (giving
authority for Directors to issue shares in the
Company) a limited number of the Company's
shareholders voted against this resolution. It has been
advised to the Company that the vote was as a matter of policy and
not specific to Flowtech.
Dividend: The final dividend of
2.2p in respect of FY23's performance will be paid on 19 July 2024
to Members on the Register as at 21 June 2024. The ex-dividend date
is 20 June 2024.
The table below shows the proxy
position of all Resolutions:
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Total votes lodged: 38,886,836
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For
and including at
discretion
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Against
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Withheld
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Number
of votes
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%
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Number of
votes
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%
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Resolution 1
To receive the Company's annual
accounts, strategic report and Directors' and Auditor's reports for
the year ended 31 December 2023.
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37,575,318
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96.62
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1,311,518
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3.38
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-
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Resolution 2
To declare a final dividend for the
year ended 31 December 2023 of 2.2 pence per ordinary share in the
capital of the Company.
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38,886,836
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100
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-
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-
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-
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Resolution 3
To reappoint Mike England as
a
Director of the Company.
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38,869,256
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99.95
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17,580
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0.05
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-
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Resolution 4
To reappoint Stuart Watson as
a
Director of the Company.
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38,885,790
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99.99
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1,046
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0.01
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-
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Resolution 5
To reappoint Russell Cash as
a
Director of the Company.
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38,885,790
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99.99
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1,046
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0.01
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-
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Resolution 6
To reappoint Ailsa Webb as
a
Director of the Company.
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38,869,256
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99.95
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17,580
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0.05
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-
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Resolution 7
To reappoint Jamie Brooke as
a
Director of the Company.
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32,633,897
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83.92
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1,496,732
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3.85
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4,756,207
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Resolution 8
To reappoint Roger McDowell as
a
Director of the Company.
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37,550,104
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96.56
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1,336,732
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3.44
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-
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Resolution 9
To reappoint Grant Thornton UK LLP
as Auditors of the Company.
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38,859,290
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99.93
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27,546
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0.07
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-
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Resolution 10
To authorise the Directors to
determine
the remuneration of the
Auditors.
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38,885,790
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99.99
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1,046
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0.01
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-
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Resolution 11
Pursuant to section 551 of the Act,
to unconditionally authorise the Directors to issue shares in the
Company.
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23,638,332
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60.74
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15,248,504
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39.26
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-
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Resolution 12
To Pursuant to section 701 of the
Act, unconditionally authorise the Company to make market purchases
of Ordinary shares in the capital of the Company.
(representing up to 10% of the issued share
capital).
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36,963,612
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95.05
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1,923,224
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4.95
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-
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1. The
'for' vote includes those giving discretion to the
Chairman
2. A
vote withheld is not a vote in law and is not counted in the
calculation of the votes for or against a
resolution
3.
Ordinary shareholders are entitled to one vote per share
held
4.
The Annual Report and Financial Statements for the
period ended 31 December 2023, together with the Notice of Meeting,
are available to view on the Company's website
www.flowtechfluidpowerplc.com
5.
News updates, regulatory news, and financial
statements can be viewed and downloaded from the Group's
website, www.flowtechfluidpower.com
. Copies can also be requested from: The Company
Secretary, Flowtech Fluidpower plc, Bollin House, Bollin Walk, Wilmslow, SK9 1DP. Email:
info@flowtechfluidpower.com.
Shareholders were able to submit any
questions regarding the business prior to the AGM via the Company
website as detailed in the Notice of Meeting.
No questions relating to the Resolutions were
submitted ahead of the AGM by shareholders via the Company investor
website. Questions raised during the AGM via the virtual link can
be viewed on the IMC platform or viewed on the recording which will
be uploaded to the Company website shortly.
Enquiries:
Flowtech Fluidpower
plc
Russell Cash, Chief Financial
Officer & Company Secretary
Tel: +44 (0) 1695 577780
Liberum (Nominated adviser and Sole
Broker)
Richard Lindley / Will
King
Tel: +44 (0) 20 3100 2000
TooleyStreet Communications (IR and media
relations
Fiona Tooley
Tel: +44 (0) 7785 703523
or email: fiona@tooleystreet.com