27 Nov 2020 12:13
27 November 2020
Quadrise Fuels International plc
("Quadrise", or "Company")
Result of Annual General Meeting
Quadrise Fuels International (AIM: QFI) announces that at its Annual General Meeting held earlier today ("AGM"), all resolutions proposed to the meeting were duly passed on a poll, save for resolution 6 that proposed the dis-application of pre-emption rights in the allotment of equity securities by the Company in certain restricted circumstances as set out in the Notice of AGM.
The total votes cast on each resolution were as follows:
Resolution | For | % | Against | % | Withheld |
1 | 254,623,231 | 96.0% | 10,635,763 | 4.0% | 61,056,446 |
2 | 251,410,839 | 94.8% | 10,922,724 | 5.2% | 63,981,877 |
3 | 255,688,055 | 96.4% | 8,953,809 | 3.6% | 61,673,576 |
4 | 257,476,883 | 97.1% | 1,455,743 | 2.9% | 67,382,814 |
5 | 248,228,637 | 93.6% | 6,380,138 | 6.4% | 71,706,665 |
6 | 59,707,991 | 22.5% | 263,428,848 | 77.5% | 3,178,601 |
Note: A vote "Withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" and "Against" shown.
Commenting on the results of the AGM, Mike Kirk, Chairman of QFI, said:
"We are very grateful that so many of our shareholders were able to vote by proxy - because of the AGM being closed this year due to COVID-19 restrictions. Whilst we are disappointed that resolution 6 was not passed, as that would have provided the Company with flexibility during 2021, this does not have any impact on the Company's ability to put any specific disapplication proposals to shareholders at a general meeting as appropriate. Whilst this would inevitably involve additional cost and time, may limit opportunities for the Company in limited circumstances and would have been best avoided, it will not change our strategic plans for the business in 2021.
We look forward to the imminent presentation and Q&A session with shareholders which will commence at 12.30pm today via Investor meeting Company."
For further information, please refer to the Company's website at www.quadrisefuels.com or contact:
Quadrise Fuels International Plc | |
Mike Kirk, Chairman | +44 (0)20 7031 7321 |
Jason Miles, Chief Executive Officer | |
Nominated Adviser | |
Cenkos Securities plc | |
Ben Jeynes | +44 (0)20 7397 8900 |
Katy Birkin | |
Joint Brokers | |
Peel Hunt LLP Richard Crichton |
+44 (0)20 7418 8900 |
David McKeown | |
Shore Capital Stockbrokers Limited | |
Toby Gibbs | +44 (0)20 7408 4090 |
Fiona Conroy | |
Public & Investor Relations | |
FTI Consulting Ben Brewerton | +44 (0)20 3727 1000 |
Ntobeko Chidavaenzi | |
Notes to Editors |
QFI is the supplier of MSAR® emulsion technology and fuels, a low-cost alternative to heavy fuel oil (one of the world's largest fuel markets, comprising over 450 million tons per annum) in the global power generation, shipping, industrial and refining industries.