Result of AGM

RNS Number : 8625W

Pressure Technologies PLC

14 February 2017

 

14 February 2017

Pressure Technologies plc

("Pressure Technologies" or the "Company")

Result of AGM

At the Annual General Meeting of Pressure Technologies (AIM: PRES), held today at 11.00 hours, all the resolutions proposed were duly passed. Details of the proxy voting are given below.

The presentation given by Alan Wilson, Chairman of Pressure Technologies, at the AGM is available on the Company's website: www.pressuretechnologies.com 

Result of proxy votes

Resolution	Votes For	Votes Against	Votes Withheld
1. To approve the annual report and accounts	4,513,318	1,000	0
2. To approve the annual report on Directors' remuneration	4,386,976	24,217	103,125
3. To re-elect Alan Wilson as a Director	4,512,276	1,000	1,042
4. To re-elect John Hayward as a Director	4,512,276	0	2,042
5. To re-elect Neil MacDonald as Director	4,512,276	0	2,042
6. To reappoint the auditors and fix their remuneration	4,512,276	0	1,042
7. To authorise allotment shares	4,498,066	9,985	6,267
8. To authorise the Company to purchase own shares	4,474,018	40,300	0
9. To disapply pre-emption provisions	3,905,501	507,775	101,042

Notes

1. Any proxy appointments, which gave discretion to the Chairman have been included in the 'for' votes total.

2. At the date of the notice of the AGM the total number of shares in issue was 14,471,295

For further information, please contact:

Pressure Technologies plc Alex Tristram, Company Secretary Keeley Clarke, Investor Relations	Tel: [phone] www.pressuretechnologies.com
Tavistock Simon Hudson	Tel: [phone]
Cantor Fitzgerald Europe (Nominated Adviser and Broker) Philip Davies / Will Goode	Tel: [phone]

Company description - www.pressuretechnologies.com

With its head office in Sheffield, Pressure Technologies was founded on its leading market position as a designer and manufacturer of high-pressure systems serving the global energy, defence and industrial gases markets. Today it continues to serve those markets from a broader engineering base with specialist precision engineering businesses and has a worldwide presence in Alternative Energy as a global leader in biogas upgrading. On this foundation, the company is building a highly profitable group of companies through a combination of organic initiatives and acquisitions.

Pressure Technologies has four divisions, Precision Machined Components, Engineered Products, Cylinders and Alternative Energy, serving four markets: oil and gas, defence, industrial gases and alternative energy.

Precision Machined Components

·      Al-Met, Mid Glamorgan, acquired in 2010 www.almet.co.uk

·      Roota Engineering, Rotherham, acquired in March 2014 www.roota.co.uk

·      Quadscot, Glasgow, acquired in October 2014 www.quadscot.co.uk

·      Martract Limited, Barton-on-Humber, acquired in December 2016 www.martract.co.uk

Engineered Products

·      Hydratron, Manchester, acquired in 2010 www.hydratron.com

Cylinders

·      Chesterfield Special Cylinders, Sheffield, IPO cornerstone in 2007 www.chesterfieldcylinders.com

·      Kelley GTM Manufacturing, Amarillo, USA - 40% stake acquired by the Group in December 2013 www.kelleygtm.com

Alternative Energy

·      Greenlane Biogas, Sheffield, UK; Vancouver, Canada and; Auckland, New Zealand acquired in October 2014 www.greenlanebiogas.com

 

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