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*
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.


For further information, please contact:

Velocys
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)
Joshua Cryer
Iain Daly
+44 20 3897 1830

Buchanan (Financial PR)
Helen Tarbet
Simon Compton
+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.