19 May 2022 15:52
Light Science Technologies Holdings plc
("LSTH" or the "Company")
Result of AGM
Light Science Technologies Holdings plc (AIM: LST), the controlled environment agriculture ("CEA") technology and contract electronics manufacturing ("CEM") group, announces that at its Annual General Meeting held today, all resolutions were duly passed.
Resolutions 1 to 8 were passed as Ordinary Resolutions and Resolutions 9-11 were passed as Special Resolutions. Voting on all resolutions at the Annual General Meeting was conducted by poll and the results are as follows:
Resolution | For | % | Against | % | Vote Total | Vote Total as % of Issued Share Capital | Withheld* |
1. To receive the accounts of the Company for the period ended 30 November 2021 | 95,299,225 | 99.99 | 8,300 | 0.01 | 95,307,525 | 54.73 | 0 |
2. To approve the Directors' Remuneration Report | 95,287,091 | 99.99 | 10,434 | 0.01 | 95,297,525 | 54.72 | 10,000 |
3. To re-elect Simon Deacon as director | 95,289,225 | 99.99 | 8,300 | 0.01 | 95,297,525 | 54.72 | 10,000 |
4. To re-elect James Snooks as director | 95,289,225 | 99.99 | 8,300 | 0.01 | 95,297,525 | 54.72 | 10,000 |
5. To re-elect Andrew Hempsall as director | 95,289,225 | 99.99 | 8,300 | 0.01 | 95,297,525 | 54.72 | 10,000 |
6. To re-appoint RSM UK Audit LLP as Auditor | 95,299,225 | 99.99 | 8,300 | 0.01 | 95,307,525 | 54.73 | 0 |
7. To authorise the Audit Committee to determine the auditor's remuneration | 95,299,225 | 99.99 | 8,300 | 0.01 | 95,307,525 | 54.73 | 0 |
8. To grant the Directors authority to allot shares equivalent of up to 30 per cent. of the nominal value of the issued ordinary share capital | 95,297,091 | 99.99 | 10,434 | 0.01 | 95,307,525 | 54.73 | 0 |
9. To grant the Directors authority to allot equity securities for cash other than in accordance with the statutory pre-emption rights equivalent of up to 20 per cent. of the nominal value of the issued ordinary share capital | 95,297,091 | 99.99 | 10,434 | 0.01 | 95,307,525 | 54.73 | 0 |
10. To authorise the Board to make market purchases of up to 17,415,000 ordinary shares (representing approximately 10% of the Company's issued ordinary shares | 95,297,967 | 99.99 | 9,558 | 0.01 | 95,307,525 | 54.73 | 0 |
11. To enable a general meeting other than an annual general meeting to be called on not less than 14 clear days' notice | 95,298,349 | 99.99 | 9,176 | 0.01 | 95,307,525 | 54.73 | 0 |
* A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "For" or "Against" a resolution.
For further information, please contact:
Light Science Technologies Holdings plc
| www.lightsciencetechnologiesholdings.com |
Simon Deacon, Chief Executive Officer Jim Snooks, Chief Financial Officer Andrew Hempsall, Chief Operating Officer | via Walbrook PR |
| |
Strand Hanson Limited (Nominated & Financial Adviser)
| Tel: +44 (0) 20 7409 3494 |
Ritchie Balmer / James Harris / Rob Patrick | |
Turner Pope Investments (TPI) Ltd (Broker) | Tel: +44 (0) 20 3657 0050 |
James Pope / Andy Thacker | |
| |
Walbrook PR Ltd (Media & Investor Relations)
| Tel: +44 (0)20 7933 8780 or lst@walbrookpr.com |
Nick Rome / Paul McManus |
About Light Science Technologies Holdings plc (www.lightsciencetechnologiesholdings.com)
Light Science Technologies Holdings plc is the holding company of the Group's controlled environment agriculture ("CEA") division, Light Science Technologies Ltd ("Light Science Technologies"), and its contract electronics manufacturing ("CEM") division, UK Circuits and Electronics Solutions Limited ("UK Circuits").
Controlled Environment Agriculture
Light Science Technologies was founded in 2019 and is the Company's grow lights and sensor technology business, providing bespoke recipes and technologies tailored to customers' needs - with key targets including indoor, vertical, glasshouses, polytunnels and medicinal farming markets. The all-in-one CEA solution will include analysing customers' crop growing requirements to provide bespoke, low-energy and sustainable equipment.
Market drivers include food and water shortages in many parts of the world; growing global population; UK and other government policy encouraging sustainable and efficient growth methods; increased scrutiny of the effect of food production on climate change and the continuing transition away from processed foods.
Contract Electronics Manufacturing
UK Circuits is the Company's CEM focussed division, with strong revenue and cash generation. The Group designs, procures, and manufactures high-quality CEM products, specialising in Printed Circuit Boards, which are used in a range of sectors including audio, automotive, electronics, gas detection, lighting, pest control, telecommunications and, more recently, the CEA market.
Light Science (LST)