HydroDec Group plc Result of AGM (9573C)

TIDMHYR

RNS Number : 9573C

HydroDec Group plc

20 June 2019

20 June 2019

Hydrodec Group plc

("Hydrodec", the "Company" or the "Group")

Result of AGM

Hydrodec Group plc (AIM: HYR), the clean-tech industrial oil re-refining group, announces that at its Annual General Meeting held earlier today, all resolutions were duly passed on a poll.

The voting results for the resolutions are included below:

 
  Resolution                      Votes        % of     Votes      % of     Total        % of 
                                   For*         votes    Against    votes    votes        issued 
                                                cast                cast     cast         share 
                                                                                          capital 
                                                                                          voted 
 1. To receive the Report 
  and Accounts for the 
  year ended 31 December 
  2018                            18,137,130   100.00     Nil       0.00    18,137,130    63.92 
 2. To re-elect Dame 
  Mary Archer as a director 
  of the Company                  17,972,718   99.09    164,448     0.91    18,137,166    63.92 
 3. To re-elect Andrew 
  Black as a director 
  of the Company                  18,135,596   99.996     808      0.004    18,136,404    63.92 
                                 -----------  -------  ---------  -------  -----------  --------- 
 4. To re-elect David 
  Dinwoodie as a director 
  of the Company                  18,135,420   99.99      984       0.01    18,136,404    63.92 
                                 -----------  -------  ---------  -------  -----------  --------- 
 5. To elect Christopher 
  Ellis as a director 
  of the Company                  18,135,120   99.99     1,284      0.01    18,136,404    63.92 
                                 -----------  -------  ---------  -------  -----------  --------- 
 6. To re-elect Lord 
  Moynihan as a director 
  of the Company                  18,135,595   99.99     1,571      0.01    18,137,166    63.92 
                                 -----------  -------  ---------  -------  -----------  --------- 
 7. To re-appoint KPMG 
  LLP as auditors of the 
  Company                         18,135,887   99.997     489      0.003    18,136,376    63.92 
                                 -----------  -------  ---------  -------  -----------  --------- 
 8. To authorise the 
  Directors to determine 
  the remuneration of 
  the auditors                    18,136,968   99.999     200      0.001    18,137,168    63.92 
                                 -----------  -------  ---------  -------  -----------  --------- 
 9. To authorise the 
  Directors to allot relevant 
  securities under section 
  551 of the Companies 
  Act 2006                        17,972,447   99.09    164,719     0.91    18,137,166    63.92 
                                 -----------  -------  ---------  -------  -----------  --------- 
 10. To empower to a 
  limited extent the Directors 
  to allot shares as if 
  section 561(1) of the 
  Companies Act 2006 did 
  not apply                       17,971,947   99.09    165,219     0.91    18,137,166    63.92 
                                 -----------  -------  ---------  -------  -----------  --------- 
 11. To authorise the 
  Company to make market 
  purchases of its own 
  shares                          17,973,523   99.10    163,643     0.90    18,137,166    63.92 
                                 -----------  -------  ---------  -------  -----------  --------- 
 

*Votes "For" include votes giving the Chairman discretion.

For further information please contact:

 
Hydrodec Group plc                                      [e-mail] 
Lord Moynihan, Executive Chairman 
 David Dinwoodie, Chief Executive Officer 
 Arden Partners plc (Nominated Adviser and Broker)       0207 614 5900 
Corporate Finance: Ciaran Walsh, Maria Gomez De Olea 
 Sales: Aimee Kerslake 
 Vigo Communications (PR adviser to Hydrodec)            020 7390 0230 
Patrick d'Ancona 
 Chris McMahon 
 

Notes to Editors:

Hydrodec Group plc is a clean-tech industrial oil re-refining group with operations in the USA.

Hydrodec's technology is a proven, highly efficient, oil re-refining and chemical process principally targeted at the multi-billion US dollar market for transformer oil used by the world's electricity industry. MarketsandMarkets forecasts that the global transformer oil market is expected to grow from USD 1.98 billion in 2015 to USD 2.79 billion by 2020 at a CAGR of 7.14%.

Used transformer oil is processed with distinct competitive advantage delivered through very high recoveries (near 100%), producing 'as new' high quality oils at competitive cost and without environmentally harmful emissions. The process also completely eliminates PCBs (polychlorinated biphenyls), a toxic additive banned under international regulations.

In 2016 Hydrodec received carbon credit approval from the American Carbon Registry ("ACR"), enabling its product to be sold with a carbon offset and creating an incremental revenue stream. The Group is now generating carbon offsets through the re-refining of used transformer oil, which would otherwise ordinarily be incinerated or disposed of in an unsustainable manner. This is a highly distinctive feature for the Group, confirming (as far as the Board is aware) Hydrodec as the only oil re-refining business in the world to receive carbon credits for its output. This is a significant endorsement of the Company's proprietary technology and standing as a leader in its field.

Hydrodec's shares are listed on the AIM Market of the London Stock Exchange. For further information, please visit www.hydrodec.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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June 20, 2019 12:49 ET (16:49 GMT)