29 May 2024
Biome Technologies plc
("Biome", the "Company" or the "Group")
Result of AGM, Interim CFO and Director Change
Biome Technologies plc, a leading bioplastics and radio frequency technology business, is pleased to announce that at the Company's Annual General Meeting ("AGM") held earlier today, all of the resolutions were passed.
For information, the proxy votes received prior to the meeting were as follows:
| No. | Resolution | For* | Against | Withheld** |
| 1 | To receive the annual report and financial statements for the year ended 31 December 2023. | 1,608,380 | 354 | 2,907 |
| 2 | To re-elect Simon Herrick as non-executive director. | 1,339,992 | 271,215 | 434 |
| 3 | To re-elect John F Standen as non-executive director. | 1,339,815 | 271,392 | 434 |
| 4 | To elect John Martin Rushton-Turner as non-executive director. | 1,339,992 | 271,392 | 257 |
| 5 | To re-appoint Evelyn Partners LLP as auditors of the Company. | 1,342,418 | 1,282 | 267,941 |
| 6 | To authorise the Directors to determine the remuneration of the auditors. | 1,343,992 | 3,885 | 263,764 |
| 7 | To authorise the Directors to allot relevant securities. | 1,344,920 | 266,464 | 257 |
| 8 | To enable the directors to allot shares for cash for pre-emptive issues. | 721,986 | 264,768 | 624,887 |
| 9 | To authorise the company to purchase its own shares. | 1,353,068 | 258,139 | 434 |
| 10 | Directors to allot relevant securities (with reference to the Company's Convertible Loan Notes issued on 11 March 2024). | 1,340,661 | 270,723 | 257 |
| 11 | Directors' power to issue shares for cash (with reference to the Company's Convertible Loan Notes issued on 11 March 2024). | 1,347,346 | 264,038 | 257 |
* Includes those votes giving the Chairman discretion
** A vote "withheld" is not a vote in law and is not counted towards the votes cast "for" or "against" a resolution.
In respect of Resolution 8, a poll was called at the AGM to clarify the voting intentions of one shareholder who had withheld his vote via proxy. That shareholder approved the passing of Resolution 8 in the poll. The full results of the poll are 885,418 votes in favour of the passing of Resolution 8 (77%) and 264,768 votes against the passing of Resolution 8 (23%), with 461,455 votes being withheld.
Interim CFO and directorate change
The Company is pleased to announce that Paul Elswood has joined the Company as an interim Chief Financial Officer in a non-Board capacity. Paul Elswood is a Chartered Institute of Management Accountants qualified senior financial executive. Paul has previously held financial roles at AFC Energy Plc, Invinity Energy Systems Plc and Hogg Robinson Group Plc.
In addition, and further to the Company's announcement of 11 March 2024, Rob Smith has now ceased his responsibilities as the Company's Chief Financial Officer and has ceased to be a director of the Company with immediate effect.
The Company is continuing its search for a permanent Chief Financial Officer and will provide updates on this in due course. It is expected that Paul Elswood will work to ensure the effective transition of his responsibilities to his successor with the intention that there will be an orderly handover period once a permanent candidate has been identified.
-Ends-
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For further information please contact: | |
| Biome Technologies plc Paul Mines, Chief Executive Officer | |
| | |
| www.biometechnologiesplc.com | Tel: +44 (0) 2380 867 100 |
|
Allenby Capital | |
| David Hart/Alex Brearley (Nominated Adviser) Kelly Gardiner/Tony Quirke (Sales and Corporate Broking) | |
| www.allenbycapital.com | Tel: +44 (0) 20 3328 5656 |
About Biome
Biome Technologies plc is an AIM listed, growth-orientated, commercially driven technology group. Our strategy is founded on building market-leading positions based on patented technology and serving international customers in valuable market sectors. We have chosen to do this by developing products in application areas where the value-added pricing can be justified and are not reliant on government legislation. These products are driven by customer requirements and are compatible with existing manufacturing processes. They are market rather than technology-led.
The Group comprises two divisions, Biome Bioplastics ("Bioplastics") and Stanelco RF Technologies Limited ("RF Technologies").
Biome Bioplastics is a leading developer of highly-functional, bio-based and biodegradable plastics. The division's mission is to produce bioplastics that challenge the dominance of oil- based polymers.
RF Technologies designs, builds and services advanced radio frequency (RF) systems. Dielectric and induction heating products are at the core of a product offering that ranges from portable sealing devices to large furnaces for the fibre optics markets.
www.biometechnologiesplc.com www.biomebioplastics.com and www.thinkbioplastic.com www.stanelcorftechnologies.com
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