Quadrise Fuels International PLC Result of AGM (7863G)

TIDMQFI

RNS Number : 7863G

Quadrise Fuels International PLC

27 November 2020

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                      [phone] 
Jason Miles, Chief Executive Officer 
Nominated Adviser 
Cenkos Securities plc 
Ben Jeynes                               [phone] 
Katy Birkin 
Joint Brokers 
Peel Hunt LLP 
 Richard Crichton                        [phone] 
David McKeown 
Shore Capital Stockbrokers Limited 
Toby Gibbs                               [phone] 
Fiona Conroy 
Public & Investor Relations 
FTI Consulting 
 Ben Brewerton                           [phone] 
Ntobeko Chidavaenzi 
Notes to Editors 
 

QFI is the supplier of MSAR(R) 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.

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END

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November 27, 2020 07:13 ET (12:13 GMT)