Last checked at 26 Nov 2021 12:00
Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil Equipment & Services
26 November 2021
Plexus Holdings PLC ('Plexus' or 'the Company')
Posting of Annual Report & Notice of AGM
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce that its Annual Report & Accounts and Notice of Annual General Meeting ('AGM') have been posted to shareholders and are available for download on the Company's website www.plexusplc.com.
The Company's AGM will be held on 20 December 2021 at 2.30pm. Due to ongoing concerns and uncertainties about potential future restrictions that could be imposed by the Government as a consequence of the COVID-19 pandemic, the AGM will be a closed meeting at which a quorum will be present in a secure and compliant arrangement. Shareholders are encouraged to submit their votes by appointing the Chairman of the Meeting as their proxy.
**ENDS**
For further information please visit www.plexusplc.com or contact:
Ben van Bilderbeek | Plexus Holdings PLC | Tel: 020 7795 6890 |
Graham Stevens | Plexus Holdings PLC | Tel: 020 7795 6890 |
Derrick Lee | Cenkos Securities PLC | Tel: 0131 220 9100 |
Isabel de Salis | St Brides Partners Ltd | Tel: 020 7236 1177 |
NOTES:
AIM-traded oil and gas engineering services company Plexus (AIM: POS) is an IP led company that has developed a range of wellheads and related products and applications based on its patent-protected POS-GRIP® friction-grip technology. In July 2021, Plexus was recognised by the London Stock Exchange as contributing to the global green economy with a "Green Economy Mark" accreditation. Plexus has been protecting the environment for over 30 years, initially with its 'through the BOP' (Blow Out Preventer) wellhead designs, and subsequently with its POS-GRIP® proprietary metal-to-metal leak-proof wellhead sealing system.
The Company is focused on establishing its technology and wellhead equipment in a range of markets including surface production, subsea and de-commissioning, both organically and through licence partners. In line with this, in November 2020 Plexus entered into a licence agreement with Cameron International Limited ('Cameron'), which grants the Schlumberger group company a non-exclusive licence to use the POS-GRIP and HG® metal-to-metal seal method of wellhead engineering for the development of conventional and unconventional oil and gas surface wellheads. Further, in August 2021, Plexus entered into a Cooperation Agreement with Cameron, which enabled Plexus to return to the Jack-Up Exploration (Adjustable) Wellhead rental business for 'through the BOP' jack-up applications. Cameron will also help to provide Plexus with sales leads and market insight through a formal Sales Advisory Board.
Plexus' suite of ongoing products and applications include: "HG" wellheads, which combine POS-GRIP technology with gas tight leak free metal-to-metal sealing; the Python® subsea wellhead (a new standard for subsea wellheads - developed in a Joint Industry Project supported by Royal Dutch Shell, BG (now owned by Shell), Wintershall, Total, Maersk (now owned by Total), Tullow Oil, eni, Senergy (now Lloyds Register), and Oil States Industries Inc); the POS-SET™ connector for the growing de-commissioning and abandonment market; and Tersus-PCT, an innovative HP/HT tie back connector product. The Company also has a collaboration agreement in place with TFMC, which provides a platform to further develop and commercialise these and other applications.