Results of Voting AGM - 5 June 2019 and TVR

RNS Number : 2293B

Flowtech Fluidpower PLC

05 June 2019

 

NEWS RELEASE Issued on behalf of Flowtech Fluidpower plc Wednesday, 5 June 2019 Immediate Release
FLOWTECH FLUIDPOWER PLC ("Flowtech Fluidpower" the "Group" or "Company") Results of Voting at Annual General Meeting
Flowtech Fluidpower plc ('the Company') announces that all resolutions contained in the Notice of Annual General Meeting dated 8 May 2019, previously circulated to the Company's shareholders were passed by way of a show of hands at the Annual General Meeting ('AGM') of the Company held earlier today (5 June 2019). The full text of each of the resolutions as set out in the Notice of AGM.  Details of the proxy voting instructions lodged prior to the AGM for each resolution (all of which were passed on a show of hands) are shown in the table below. Number of shareholders in attendance: 5 RESOLUTIONS TOTAL PROXY VOTES RECEIVED (excluding votes withheld) TOTAL FOR AND AT DISCRETION TOTAL AGAINST TOTAL WITHHELD ORDINARY BUSINESS: Resolution 1 To receive the Company's Annual Report and Accounts, Strategic Report and Directors' and Auditors' Reports for the year ended 31 December 2018. 29,777,336 29,771,047 6,289 0 Resolution 2 To approve the final dividend for the year ended 31 December 2018 of 4.04 pence per Ordinary Share. 29,777,336 29,769,726 7,610 0 Resolution 3 To re-appoint Russell Cash as a Director of the Company. 29,777,336 29,759,783 16,089 1,464 Resolution 4 To re-appoint Bill Wilson as Director of the Company. 29,777,336 29,767,506 8,366 1,464 Resolution 5 To re-appoint Bryce Brooks as a Director of the Company. 29,777,336 29,767,506 8,366 1,464 Resolution 6 To re-appoint Malcolm Diamond as a Director of the Company. 29,777,336 29,759,773 16,099 1,464 Resolution 7 To re-appoint Nigel Richens as a Director of the Company. 29,777,336 29,767,506 8,366 1,464 Resolution 8 .           To re-appoint Grant Thornton UK LLP as Auditor of the Company to hold office until the conclusion of the next general meeting. 29,777,336 29,769,583 7,753 0 Resolution 9 To authorise the Directors to determine the remuneration of the Auditors. 29,777,336 29,768,086 9,250 0 Resolution 10 To authorise the Company and its subsidiaries to make political donations and to incur political expenditure. 29,777,336 24,338,059 5,423,783 15,494 Resolution 11 To authorise the Directors to allot shares in the Company. 29,777,336 29,613,846 163,490 0 SPECIAL BUSINESS: Resolution 12 Disapplication of pre-emption rights. (In line with current Institutional Shareholder guidelines - to authorise the Directors to allot shares for cash without first offering them to existing Shareholders on a pro‑rata basis) 29,777,336 28,747,753 1,025,304 4,279 Resolution 13 To authorise the Company to purchase own Shares. (up to 10% of the Issued Share Capital) 29,777,336 29,768,262 5,864 3,210 The 'for' vote includes those giving discretion to the Chairman.  A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution. At today's date, 5 June 2019, there were 61,078,367 Flowtech Fluidpower plc ordinary shares of 50p each in issue. Ordinary shareholders are entitled to one vote per share held. The 2018 Annual Report and Financial Statements for the period ended 31 December 2018, together with the Notice of AGM, are available to view on the Company's website www.flowtechfluidpowerplc.com.  In addition, this announcement is available on the Company's investor website within: https://www.flowtechfluidpower.com/investors/regulatory-news

ENQUIRIES:

FLOWTECH FLUIDPOWER PLC

Russell Cash, Chief Financial Officer & Company Secretary Tel: [phone] Email: [e-mail]

Zeus Capital Limited (Nominated Adviser and Joint Broker) Andrew Jones, Alistair Donnelly (Corporate Finance) Dominic King, John Goold (Sales & Broking) Tel: + 44 (0) 20 3829 5000

finnCap Limited (Joint Broker) Ed Frisby, Kate Bannatyne (Corporate Finance) Rhys Williams, Andrew Burdis (Sales & Broking) Tel: + 44 (0) 20 7220 0500

TooleyStreet Communications (IR and media relations) Fiona Tooley Tel: [phone] or email: [e-mail]

About Flowtech Fluidpower plc

Founded as Flowtech in 1983, the Flowtech Fluidpower Group is the UK's leading specialist supplier of technical fluid power products.  The business joined AiM in 2014.  Today, the Group has two distinct divisions:
Division:	What we do:	Locations:
Components	Supply of hydraulic and pneumatic consumables, predominantly through distribution for urgent maintenance and repair operations across all industry sectors.  Additionally, support a broad range of OEMs supplying off-the-shelf and tailored components and assemblies.	Flowtechnology Benelux (Deventer) Flowtechnology China (Guangzhou) Flowtechnology UK (Skelmersdale) Indequip (Skelmersdale) Beaumanor (Leicester) Hydravalve (Willenhall) Primary Fluid Power Components (Knowsley) Albroco (Knowsley) Nelson Hydraulics (Dublin, Lisburn, Dungannon, UK) HTL (Ludlow) Hi-Power Hydraulics (Cork, Dublin, Belfast Manchester) Hydroflex (Brussels, Rotterdam and OudBeijerland) Hydraulic Equipment Supermarkets (Gloucester, Leeds, Birmingham, Durham) Derek Lane & Co (Newton Abbot, Devon) HES Tractec (Gloucester)
Services	Bespoke design, manufacturing, commissioning, installation and servicing of systems to manufacturers of specialised industrial and mobile hydraulic original equipment manufacturers (OEMs) and additionally a wide range of industrial end users.	Primary Fluid Power Systems (Knowsley) TSL Fluid Power (West Yorkshire) Branch Hydraulic Systems and HES Automatec (Gloucester) HES Lubemec (Gloucester) HES Onsite (Durham, Leeds, Birmingham, Gloucester) Flow Connect (Gloucester) Orange County (Spennymoor)
Both Group's divisions have overlapping product sets, allowing procurement synergies to be maximised.
The above divisions are supported by a centralised back office team based at the Skelmersdale, Lancashire, and Wilmslow, Cheshire sites in the UK and a procurement and quality control team in Shanghai, China.  In total, the business employs over 550 people.  For more information please visit, www.flowtechfluidpower.com

 

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