Results of Annual General Meeting

RNS Number : 6795P

Velocys PLC

21 June 2022

 

News release

Velocys plc

("Velocys" or "the Company")

21 June 2022

Results of Annual General Meeting

Velocys plc (VLS.L), the sustainable fuels technology company, announces that, at its Annual General Meeting held earlier today, all resolutions put to shareholders were duly passed by means of a Poll.

Full details of the resolutions passed are set out in the Notice of Meeting which is available on the Company's website www.velocys.com .

Resolutions	For / Discretion		Against		Total	Vote withheld*
	Number	%	Number	%
1. To receive, consider and adopt the annual accounts of the Company as at 31 December 2021 and the Directors' and auditors' reports thereon	588,201,272	99.97	184,835	0.03	588,386,107	109,029
2.  To approve the Directors' Remuneration Report for the year ended 31 December 2021	550,447,082	99.32	3,788,593	0.68	554,235,675	34,259,461
3. To re-elect Philip Holland	588,053,823	99.95	281,276	0.05	588,335,099	160,037
4. To re-elect Henrik Wareborn	588,053,773	99.95	281,276	0.05	588,335,099	160,037
5. To re-elect Darran Messem	588,053,823	99.95	281,276	0.05	588,335,099	160,037
6. To elect Ann Markey	588,124,814	99.96	210,285	0.04	588,335,099	160,037
7. To elect Tom Quigley	588,114,539	99.96	220,560	0.04	588,335,099	160,037
8. To re-appoint PricewaterhouseCoopers LLP as auditors to the Company	561,772,368	95.47	26,627,803	4.53	588,400,171	94,965
9. To authorise the Directors to fix the remuneration of the auditors	584,869,771	99.40	3,513,336	0.60	588,386,107	109,029
10. To amend the Rules of the Velocys plc 2021 Share Option Scheme to reduce the maximum dilution limit from 25% to 10% of the issued share capital	564,627,866	95.99	23,560,183	4.01	588,188,049	307,087
11. To authorise the Directors to allot equity securities pursuant to the articles of association of the Company	587,883,154	99.92	483,300	0.08	588,366,454	178,682
12. To authorise the Directors to allot equity securities for cash disapplying pre-emption rights in the Company's articles of association	272,045,100	90.99	26,945,753	9.01	298,990,853	289,504,283
13. To authorise the Company to purchase its own shares	544,015,025	95.89	23,332,203	4.11	567,347,228	21,147,908

* 'Vote withheld' is not a vote in law and is not counted in the calculation of the proportion of the votes 'For' and 'Against' a resolution.

Confirmation of Directorate Change

As previously announced, Philip Sanderson will be appointed as an Executive Director of the Company and as Chief Financial Officer with effect from 22 June 2020. Andrew Morris did not stand for re-election at the Annual General Meeting.

- Ends -

For further information, please contact: Velocys Henrik Wareborn, CEO Andrew Morris, CFO Lak Siriwardene, Director of Communications [phone] Panmure Gordon (UK) Limited (Nomad and Joint Broker) Hugh Rich (Corporate Broking) Emma Earl (Corporate Finance) John Prior (Corporate Finance) [phone] Shore Capital Stockbrokers Limited (Joint Broker) Henry Willcocks (Corporate Broking) Toby Gibbs (Corporate Advisory) James Thomas (Corporate Advisory) [phone] Radnor Capital (Investor Relations) Joshua Cryer Iain Daly [phone] Buchanan (Financial PR) Helen Tarbet Simon Compton [phone] --Ends- Notes to Editors Velocys is an LSE-listed, international sustainable fuels technology company, traded on the AIM, providing customers with a technology solution to enable the production of negative Carbon Intensity synthetic, drop-in fuels from a variety of waste materials. Synthetic fuel is the only commercially available, permanent alternative to fossil aviation fuels. The Velocys technology is IP-protected in all major jurisdictions. Two reference projects (Bayou Fuels, US, and Altalto, UK) are designed to accelerate the adoption and standardise the Velocys proprietary Fischer Tropsch (FT) technology with an integrated end to end solution, including renewable power and carbon sequestration. Velocys is enabling commercial scale synthetic fuel production in response to the clean energy transition, with significant additional positive air quality impacts. www.velocys.com

 

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