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31 Jul 2025 17:08
SIMEC Atlantis Energy Limited
("SAE Renewables", "SAE" or the "Company")
31 July 2025
Result of AGM
SAE announces that at the Annual General Meeting of the Company held today, all resolutions put to shareholders were duly passed with the exception of resolution 9 which was not passed.
All resolutions were decided on a poll. The Company will engage with the largest of those shareholders that voted against resolution 9 to understand their reasoning.
The results of the poll are set out below:
FOR* | AGAINST |
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RESOLUTIONS | Votes | % of votes cast | Votes | % of votes cast | Withheld** |
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Ordinary Resolution 1 | 270,396,354 | 99.79% | 574,565 | 0.21% | 4,075,502 |
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To receive the audited financial statements for the year ended 31 December 2024 together with the Directors' Reports and the Auditors' Report |
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Ordinary Resolution 2 | 262,784,090 | 95.87% | 11,332,678 | 4.13% | 929,653 |
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To approve the Directors' remuneration report |
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Ordinary Resolution 3 To approve the Directors' fees | 257,969,209 | 94.11% | 16,147,559 | 5.89% | 929,653 |
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Ordinary Resolution 4 | 269,545,158 | 99.49% | 1,369,544 | 0.51% | 4,131,719 |
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To reappoint Nexia Singapore PAC as auditor |
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Ordinary Resolution 5 | 270,397,917 | 99.81% | 518,785 | 0.19% | 4,129,719 |
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To set the remuneration of the auditors |
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Ordinary Resolution 6 | 265,397,926 | 97.96% | 5,516,776 | 2.04% | 4,131,719 |
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To re-elect Duncan Stuart Black as a Director of the Company |
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Ordinary Resolution 7 To re-elect Graham Matthew Reid as a Director of the Company | 265,397,926 | 97.96% | 5,516,776 | 2.04% | 4,131,719 |
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Ordinary Resolution 8 To authorise the Directors to allot and issue equity securities | 261,344,940 | 95.33% | 12,788,861 | 4.67% | 912,620 |
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Ordinary Resolution 9 To authorise the Directors to dis-apply pre-emption rights, as set out in the notice of meeting | 34,885,322 | 12.73% | 239,250,479 | 87.27% | 910,620 |
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Ordinary Resolution 10 To authorise the Directors to grant options and awards under the Company's Share Plans | 266,339,042 | 98.29% | 4,630,622 | 1.71% | 4,076,757 |
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Ordinary Resolution 11 To authorise the Directors to make amendments to the Company's Share Plans | 261,348,218 | 96.44% | 9,637,946 | 3.56% | 4,060,257 |
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Ordinary Resolution 12 To authorise the Directors to make market purchases of own shares | 269,744,048 | 98.39% | 4,408,253 | 1.61% | 894,120 |
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Special Resolution 13 To authorise the Directors to make a name change | 268,202,357 | 97.83% | 5,949,944 | 2.17% | 894,120 |
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Special Resolution 14 To authorise the Directors to amend the Company's constitution | 249,312,103 | 90.95% | 24,804,396 | 9.05% | 929,922 |
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Ordinary Resolution 15 To authorise Directors' fees | 259,444,857 | 94.34% | 15,553,131 | 5.66% | 48,433 |
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*Votes received for the resolutions includes votes allowing the Chairman's discretion. ** 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 the resolution. | ||||||||||
As the date of the Annual General Meeting the Company had in issue 722,812,335 ordinary shares.
-ENDS-
For further information, please contact:
SAE Renewables Sean Parsons, Director of External Affair | +44 (0)7739 832 446 |
Strand Hanson Limited (Nominated and Financial Adviser) Richard Johnson Rory Murphy David Asquith | +44 (0)20 7409 3494 |
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Zeus Capital Limited (Broker) Louisa Waddell Simon Johnson
| +44 (0)20 3829 5000 |
Notes to Editors
SAE Renewables is a global developer, owner and operator of sustainable energy projects. SAE owns the world's flagship tidal stream project, MeyGen. SAE is also the owner of the Uskmouth Power Station site that is being repurposed into a sustainable energy park, initially housing one of the UK's largest battery energy storage projects. https://www.saerenewables.com/
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