23 April 2025
AFC Energy PLC
("AFC Energy" or the "Company")
Annual General Meeting Results
AFC Energy (AIM: AFC), a leading provider of hydrogen energy solutions, announces that at its Annual General Meeting held earlier today, all resolutions put to shareholders were duly passed by the necessary majority.
Annual General Meeting - proxy voting results
| | | Votes For + Discretion | Votes Against | Votes Withheld | Total Votes Cast (excl. Votes Withheld) | ||
| Resolution | Description | Votes | % Votes Cast | Votes | % Votes Cast | Votes | Votes |
| Ordinary Resolutions | |||||||
| 1. | FINANCIAL STATEMENTS | 109,601,552 | 99.78 | 236,703 | 0.22 | 456,730 | 109,838,255 |
| 2. | RE-APPOINT AUDITORS | 109,489,640 | 99.66 | 373,250 | 0.34 | 432,095 | 109,862,890 |
| 3. | REMUNERATION OF AUDITORS | 109,363,981 | 99.68 | 354,133 | 0.32 | 576,871 | 109,718,114 |
| 4. | ELECT J WILSON | 100,855,257 | 91.87 | 8,926,975 | 8.13 | 504,287 | 109,782,232 |
| 5. | ELECT K BOSTOCK | 109,364,077 | 99.62 | 418,155 | 0.38 | 504,287 | 109,782,232 |
| 6. | RE-ELECT G BULLARD | 105,890,855 | 96.66 | 3,658,491 | 3.34 | 535,173 | 109,549,346 |
| 7. | RE-ELECT M BIDDULPH | 108,437,524 | 98.98 | 1,115,364 | 1.02 | 536,831 | 109,552,888 |
| 8. | REMUNERATION REPORT | 84,374,368 | 77.09 | 25,073,942 | 22.91 | 846,675 | 109,448,310 |
| 9. | ALLOT RELEVANT SECURITIES | 108,303,588 | 98.66 | 1,469,152 | 1.34 | 522,245 | 109,772,740 |
| Special Resolution | |||||||
| 10. | DISAPPLICATION of PRE-EMPTION RIGHTS | 107,043,551 | 97.56 | 2,677,989 | 2.44 | 573,445 | 109,721,540 |
The Board notes that resolution 8 received 77.09% proxy votes in favour, but recognises that a significant minority of shareholders voted against this resolution. 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 John Wilson (Chief Executive Officer)
| +44 (0) 14 8327 6726 |
|
Peel Hunt LLP - Nominated Adviser and Joint Broker Richard Crichton / Georgia Langoulant / Emily Bhasin |
+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 |
|
RBC Capital Markets - Joint Broker Matthew Coakes / Teri Su Eduardo Famini / Jack Wood
FTI Consulting - Financial PR Advisors Ben Brewerton / Chris Laing / Evie Taylor |
+44 (0) 20 7653 4000
+44 (0) 203 727 1000 |
|
| |
About AFC Energy
AFC Energy plc is a leading innovator in hydrogen-based power and ammonia cracking solutions, delivering clean energy for on-grid and off-grid applications. The Company's hydrogen fuel cell technology provides a sustainable alternative to diesel power generation, supporting electric vehicle charging, decentralised power systems for construction, and temporary power needs. AFC Energy is also exploring new opportunities across maritime, data centres, and rail, driving the decarbonisation of growing electrification demands.
The Company's subsidiary, Hyamtec, is commercialising proprietary ammonia cracking technology to unlock new opportunities in distributed hydrogen production. This includes hydrogen refuelling, natural gas displacement for industrial processes, and hydrogen combustion engine conversions. Hyamtec's solutions are designed to meet the decarbonisation needs of industries such as mining, cement, asphalt, power generation, and heavy engineering, supporting the global transition to clean energy.
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