CT Automotive Group PLC Result of Annual General Meeting (9769F)

TIDMCTA

RNS Number : 9769F

CT Automotive Group PLC

13 July 2023

13 July 2023

CT AUTOMOTIVE GROUP PLC

("CT Automotive" or the "Company")

Result of Annual General Meeting

CT Automotive, a leading designer, developer and supplier of interior components to the global automotive industry, is pleased to announce that all resolutions proposed to shareholders at its Annual General Meeting held at 9:00 a.m. today were duly passed.

The total number of proxy votes received in respect of all resolutions were as follows:

 
 Resolution                     Votes        %       Votes     % Against   Total votes        Total      Withheld 
                                  For       For     Against                 cast as % 
                                                                            of issued 
                                                                            share capital 
 Ordinary Resolutions 
      To receive 
       the Annual 
       Report 
 1     and Accounts           28,801,032    100        0           0           39.13        28,801,032      0 
     ----------------------  -----------  ------  ----------  ----------  ---------------  -----------  --------- 
      To re-appoint 
       Simon Phillips 
       as a director 
       of the 
 2     Company                28,801,032    100        0           0           39.13        28,801,032      0 
     ----------------------  -----------  ------  ----------  ----------  ---------------  -----------  --------- 
      To re-appoint 
       Scott McKenzie 
       as a director 
       of the 
 3     Company                28,801,032    100        0           0           39.13        28,801,032      0 
     ----------------------  -----------  ------  ----------  ----------  ---------------  -----------  --------- 
      To re-appoint 
       Anna Brown 
       as a director 
       of the 
 4     Company                28,801,032    100        0           0           39.13        28,801,032      0 
     ----------------------  -----------  ------  ----------  ----------  ---------------  -----------  --------- 
      To re-appoint 
       Francesca 
       Ecsery 
       as a director 
       of the 
 5     Company                28,801,032    100        0           0           39.13        28,801,032      0 
     ----------------------  -----------  ------  ----------  ----------  ---------------  -----------  --------- 
      To re-appoint 
       Raymond 
       Bench as 
       a director 
       of the 
 6     Company                28,801,032    100        0           0           39.13        28,801,032      0 
     ----------------------  -----------  ------  ----------  ----------  ---------------  -----------  --------- 
      To reappoint 
       auditors 
       of the 
 7     Company                28,801,032    100        0           0           39.13        28,801,032      0 
     ----------------------  -----------  ------  ----------  ----------  ---------------  -----------  --------- 
      To authorise 
       the directors 
       to determine 
       the auditor's 
 8     remuneration           28,801,032    100        0           0           39.13        28,801,032      0 
     ----------------------  -----------  ------  ----------  ----------  ---------------  -----------  --------- 
      Authority 
       for directors 
       to allot 
 9     shares                 28,801,032    100        0           0           39.13        28,801,032      0 
     ----------------------  -----------  ------  ----------  ----------  ---------------  -----------  --------- 
 Special Resolutions 
      Authority 
       for directors 
       to allot 
       shares 
       on a non-pre-emptive 
 10    basis                  23,909,356   83.02   4,891,676     16.98         39.13        28,801,032      0 
     ----------------------  -----------  ------  ----------  ----------  ---------------  -----------  --------- 
 

1. Proxy appointments which gave discretion to the Chairman of the AGM have been included in the "For" total for the appropriate resolution.

2. Votes "For" and "Against" any resolution are expressed as a percentage of votes validly cast for that resolution.

3. A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against".

   4.    The number of shares in issue on 13 July 2023 was 73,597,548 with no shares in treasury. 

5. The full text of the resolutions passed at the AGM can be found in the Notice of Annual General Meeting which is available on the Company's website at www.ctautomotive.net.

For further information please contact:

 
 CT Automotive                         via MHP 
  Simon Phillips, Executive Chairman 
  Anna Brown, Chief Financial 
  Officer 
 
 Liberum (Nominated Adviser and        Tel: [phone] 
  Broker) 
  Richard Lindley 
  Benjamin Cryer 
 
 MHP (Financial PR)                    Tel: [phone] 
  Tim Rowntree 
  Charlie Baker 
  Veronica Farah 
  [e-mail] 
 

Notes to editors

CT Automotive is engaged in the design, development and manufacture of bespoke automotive interior finishes (for example dashboard panels and fascia finishes) and kinematic assemblies (for example air registers, arm rests, deployable cup holders and storage systems), as well as their associated tooling, for the world's leading automotive original equipment suppliers ("OEMs") and global Tier One manufacturers.

The Group is headquartered in the UK with a low-cost manufacturing footprint. Key production facilities are located in Shenzhen and Ganzhou, China complemented by additional manufacturing facilities in Turkey, Mexico and the Czech Republic.

CT Automotive's operating model enables it to pursue a price leadership strategy, supplying high quality parts to customers at a lower overall landed cost than competitors. This has helped the Group build a high-quality roster of OEM end customers, both directly and via Tier One suppliers including Faurecia and Marelli. End customers include volume manufacturers, such as Nissan, and luxury car brands such as Bentley and Lamborghini. In addition, the Group supplies electric car manufacturers, including Lucid. It has also recently started working with e.Go Mobile, a German manufacturer which plans to launch a series of small electric vehicles for the budget end of the market.

The Group currently supplies component part types to over 47 different models for 19 OEMs. Since its formation, the Group has been the only significant new entrant into the market, which is characterised by high barriers to entry.

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