AFC Energy Plc
28 April 2023
AFC Energy Plc
("AFC Energy" or the "Company")
Annual General Meeting Results
AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, announces that at its Annual General Meeting held yesterday, all resolutions put to shareholders were duly passed by the necessary majority.
Annual General Meeting - proxy voting results
| Res. No. | Brief Description | Votes for & Discretion | % | Votes against | % | Total votes (ex. Withheld) | Votes withheld |
| Ordinary Resolutions | |||||||
| 1. | FINANCIAL STATEMENTS | 60,100,198 | 75.95 | 19,035,060 | 24.05 | 79,135,258 | 39,444,565 |
| 2. | RE-APPOINT AUDITORS | 102,427,259 | 99.53 | 486,940 | 0.47 | 102,914,199 | 15,665,624 |
| 3. | REMUNERATION OF AUDITORS | 67,657,695 | 78.18 | 18,884,782 | 21.82 | 86,542,477 | 32,037,346 |
| 4. | RE-ELECT JIM GIBSON | 117,645,439 | 99.52 | 562,001 | 0.48 | 118,207,440 | 372,383 |
| 5. | RE-ELECT GERRY AGNEW | 99,571,347 | 84.24 | 18,621,301 | 15.76 | 118,192,648 | 387,175 |
| 6. | ELECT PETER DIXON-CLARKE | 117,707,453 | 99.58 | 496,402 | 0 | 118,203,855 | 375,968 |
| 7. | APPROVE REMUNERATION REPORT | 55,788,805 | 73.34 | 20,276,291 | 26.66 | 76,065,096 | 42,514,727 |
| 8. | AUTHORITY TO ALLOT SHARES | 117,145,370 | 99.05 | 1,127,806 | 0.95 | 118,273,176 | 306,647 |
| Special Resolutions | |||||||
| 9. | DISAPPLICATION OF PRE-EMPTION RIGHTS | 117,130,345 | 98.99 | 1,192,342 | 1.01 | 118,322,687 | 257,136 |
The Board of Directors notes that resolutions 1, 3 and 7 received votes of 75.95%, 78.18 and 73.34% respectively in favour but recognises that a significant minority of shareholders voted against these resolutions. The Company intends to engage with shareholders in order to better understand the reasons behind the result and will provide an update on the feedback received from those shareholders and any actions the Company intends to take within six months of the date of the Annual General Meeting.
For further information, please contact:
| AFC Energy plc Adam Bond (Chief Executive Officer)
|
+44 (0) 14 8327 6726
|
| Peel Hunt LLP - Nominated Adviser and Joint Broker Richard Crichton / Tom Ballard / Georgia Langoulant
|
+44 (0) 207 418 8900
|
| Zeus - Joint Broker David Foreman / James Hornigold (Investment Banking) Dominic King (Corporate Broking) / Rupert Woolfenden (Sales) |
+44 (0) 203 829 5000
|
| FTI Consulting - Financial PR Advisors Ben Brewerton / Nick Hennis / Dhruv Soni | +44 (0) 203 727 1000
|
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