NEWS RELEASE
Issued on behalf of Flowtech Fluidpower plc
Tuesday, 17 June 2025
FLOWTECH FLUIDPOWER PLC
("the Company")
Result of AGM
Flowtech Fluidpower plc ('the Company') held its Annual General Meeting (AGM) at 10.00 am today (17 June 2025) at the Company's Registered Office, and also provided the ability of a view-only virtual event via the Investor Meet Company platform (IMC).
All Resolutions, as set out in the Notice of Meeting dated 22 May 2025, were duly passed.
In relation to Resolution 10, (giving authority for Directors to issue shares in the Company) a limited number of the Company's shareholders voted against this resolution. The Board takes seriously its responsibilities to maintain a constructive dialogue with shareholders and will engage with them to better understand their views.
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.
Shareholders were able to submit questions regarding the business or matters relating to the AGM business prior to the AGM via the Company website as detailed in the Notice of Meeting. No questions were submitted ahead of the AGM by shareholders via the Company investor website. Questions raised during the AGM can be viewed as part of the AGM webcast which will be available on the IMC platform or the Company's investor website shortly.
The table below shows the proxy position of all Resolutions:
| Total votes lodged: 36,759,510 Total number of shares in issue: 63,275,173 | For and including at discretion | Against | Withheld | ||
|
| Number of votes | % | Number of votes | % | |
| Resolution 1 To receive the Company's annual accounts, strategic report and Directors' and Auditor's reports for the year ended 31 December 2024. |
36,759,510 |
100.00 |
0 |
0.00 |
0 |
| Resolution 2 To reappoint Mike England as a Director of the Company. |
36,758,426 |
99.99 |
1,084 |
0.01 |
0 |
| Resolution 3 To reappoint Stuart Watson as a Director of the Company. |
36,758,426 |
99.99 |
1,084 |
0.01 |
0 |
| Resolution 4 To reappoint Russell Cash as a Director of the Company. |
36,758,464 |
99.99 |
1,046 |
0.01 |
0 |
| Resolution 5 To reappoint Ailsa Webb as a Director of the Company. |
36,753,702 |
99.98 |
5,808 |
0.02 |
0 |
| Resolution 6 To reappoint Jamie Brooke as a Director of the Company. |
30,738,643 |
96.09 |
1,251,921 |
3.91 |
4,768,946 |
| Resolution 7 To reappoint Roger McDowell as a Director of the Company. |
35,502,865 |
96.58 |
1,256,645 |
3.42 |
0 |
| Resolution 8 To reappoint Grant Thornton UK LLP as Auditors of the Company. |
36,696,132 |
99.92 |
30,845 |
0.08 |
32,533 |
| Resolution 9 To authorise the Directors to determine the remuneration of the Auditors. |
36,758,165 |
99.99 |
1,345 |
0.01 |
0 |
| Resolution 10 Pursuant to section 551 of the Act, to unconditionally authorise the Directors to issue shares in the Company. |
23,588,089 |
64.17 |
13,171,421 |
35.83 |
0 |
| Resolution 11 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). |
34,830,902 |
94.75 |
1,928,608 |
5.25 |
0 |
| Resolution 12 Capital reduction of the share premium account.
|
36,741,497 |
99.99 |
1,084 |
0.01 |
16,929 |
1. The 'for' vote includes those giving discretion to the Chair of the Meeting
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 2024, 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: investorrelations@flowtech.co.uk
| FURTHER ENQUIRIES TO: |
| FLOWTECH FLUIDPOWER PLC Mike England, Chief Executive Officer Russell Cash, Chief Financial Officer Tel: +44 (0) 1695 52759 |
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| Panmure Liberum (Nominated Adviser and Joint Broker) Nicholas How, Managing Director, Head of Business Services and Industrials William King, Assistant Director, Investment Banking Tel: +44 (0) 20 3100 2000 |
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| Singer Capital Markets (Joint Broker) Tom Salvesen, Head of Investment Banking James Todd, Associate, Investment Banking Tel: +44 (0) 207 496 3000 |
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| TooleyStreet Communications (IR and media relations) Fiona Tooley Tel: +44 (0) 7785 703523 Email: fiona@tooleystreet.com |
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