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Results of 2024 Annual General Meeting

21 Mar 2024 12:10

RNS Number : 8186H
Pressure Technologies PLC
21 March 2024

21 March 2024

Pressure Technologies plc

("Pressure Technologies" or "the Company")

Results of 2024 Annual General Meeting

Pressure Technologies plc (AIM: PRES), the specialist engineering group, announces the voting results of its 2024 annual general meeting (the "AGM") held today.

Resolutions 1-12 were proposed by the Board and all were duly passed.

Resolution 13 was proposed by the Board as a special resolution, requiring a 75% majority of votes cast to pass. This resolution received votes in favour equating to 66.34% of those cast and so was not passed. The Board notes this vote against Resolution 13 and will engage with shareholders to understand their views.

The total votes were cast as follows:

Resolution

For

%

Against

%

Withheld**

1

To receive and adopt the FY23 audited Annual Report & Financial Statements

24,236,812

99.98

6,000

0.02

11,144

2

To approve the Directors' Remuneration Report in the FY23 Annual Report & Financial Statements

17,730,648

99.90

18,314

0.10

6,504,964

3

To re-appoint Nick Salmon as a Director

17,736,515

99.90

17,114

0.10

6,500,297

4

To re-appoint Chris Walters as a Director

24,236,515

99.93

17,114

0.07

297

5

To re-appoint Steve Hammell as a Director

24,236,515

99.93

17,114

0.07

297

6

To re-appoint Mike Butterworth as a Director

17,736,315

99.90

17,314

0.10

6,500,297

7

To re-appoint Tim Cooper as a Director

17,736,515

99.90

17,114

0.10

6,500,297

8

To re-appoint Richard Staveley as a Director

24,231,551

99.91

22,078

0.09

297

9

To re-appoint Cooper Parry as Auditor

24,231,312

99.95

11,500

0.05

11,144

10

To authorise the Audit & Risk Committee to set the Auditor's remuneration

24,231,015

99.91

22,614

0.09

297

11

To authorise the Directors to allot shares

16,327,509

67.32

7,926,417

32.68

0

12

To authorise the Company to purchase its own shares*

22,886,823

94.36

1,367,103

5.64

0

13

To disapply pre-emption rights*

16,089,797

66.34

8,164,129

33.66

0

* Special Resolution

** A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'For' and 'Against' any of the resolutions.

Notes

1. Any proxy appointments, which gave discretion to the Chair, 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 38,667,163.

For further information, please contact:

Pressure Technologies plc

Chris Walters, Chief Executive

Steve Hammell, Chief Financial Officer

Tel: 0333 015 0710

company.secretary@pressuretechnologies.co.uk

Singer Capital Markets (Nomad and Broker)

Rick Thompson / Asha Chotai

Tel: 0207 496 3000

COMPANY DESCRIPTION

www.pressuretechnologies.com

With its head office in Sheffield, the Pressure Technologies Group was founded on its leading market position as a designer and manufacturer of high-integrity, safety-critical components and systems serving global supply chains in oil and gas, defence, industrial and hydrogen energy markets.

The Group has two divisions:

· Chesterfield Special Cylinders (CSC) - www.chesterfieldcylinders.com

· Precision Machined Components (PMC) - www.pt-pmc.com

o Includes the Al-Met, Roota Engineering and Martract sites.

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END
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Date   Source Headline
26th Mar 20197:00 amRNSHolding(s) in Company
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8th Feb 20187:00 amRNSDirectorate Change
8th Jan 20183:12 pmRNSPublication of Annual Report and Notice of AGM
12th Dec 201711:05 amRNSSecond Price Monitoring Extn
12th Dec 201711:00 amRNSPrice Monitoring Extension
12th Dec 20177:00 amRNSFinal Results
7th Nov 20174:30 pmRNSDirectors Shareholdings
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16th Feb 201712:42 pmRNSExercise of Options
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31st Jan 201710:19 amRNSExercise of Options
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13th Dec 20167:00 amRNS2016 Audited Preliminary Results
8th Dec 20167:00 amRNSAcquisition of Martract Limited
6th Dec 201610:11 amRNSNotice of Results

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