Results of Annual General Meeting
21 Jun 2022
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*|
|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.
For further information, please contact:
Henrik Wareborn, CEO
Andrew Morris, CFO
Lak Siriwardene, Director of Communications
+44 1865 800821
Panmure Gordon (UK) Limited (Nomad and Joint Broker)
Hugh Rich (Corporate Broking)
Emma Earl (Corporate Finance)
John Prior (Corporate Finance)
+44 20 7886 2500
Shore Capital Stockbrokers Limited (Joint Broker)
Henry Willcocks (Corporate Broking)
Toby Gibbs (Corporate Advisory)
James Thomas (Corporate Advisory)
+44 20 7408 4090
Radnor Capital (Investor Relations)
+44 20 3897 1830
Buchanan (Financial PR)
+44 20 7466 5000
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.