Velocys PLC Results of Annual General Meeting (6795P)

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RNS Number : 6795P

Velocys PLC

21 June 2022

News release

Velocys plc

("Velocys" or "the Company")

21 June 2022

Results of Annual General Meeting

Velocys plc (VLS.L), the sustainable fuels technology company, announces that, at its Annual General Meeting held earlier today, all resolutions put to shareholders were duly passed by means of a Poll.

Full details of the resolutions passed are set out in the Notice of Meeting which is available on the Company's website www.velocys.com .

 
 Resolutions                                For / Discretion      Against             Total         Vote withheld* 
                                            Number        %       Number       % 
                                           ------------  ------  -----------  ----- 
 1. To receive, consider 
  and adopt the annual 
  accounts of the Company 
  as at 31 December 
  2021 and the Directors' 
  and auditors' reports 
  thereon                                   588,201,272   99.97      184,835   0.03   588,386,107          109,029 
                                           ------------  ------  -----------  -----  ------------  --------------- 
 2. To approve the 
  Directors' Remuneration 
  Report for the year 
  ended 31 December 
  2021                                      550,447,082   99.32    3,788,593   0.68   554,235,675       34,259,461 
                                           ------------  ------  -----------  -----  ------------  --------------- 
 3. To re-elect Philip 
  Holland                                   588,053,823   99.95      281,276   0.05   588,335,099          160,037 
                                           ------------  ------  -----------  -----  ------------  --------------- 
 4. To re-elect Henrik 
  Wareborn                                  588,053,773   99.95      281,276   0.05   588,335,099          160,037 
                                           ------------  ------  -----------  -----  ------------  --------------- 
 5. To re-elect Darran 
  Messem                                    588,053,823   99.95      281,276   0.05   588,335,099          160,037 
                                           ------------  ------  -----------  -----  ------------  --------------- 
 6. To elect Ann Markey                     588,124,814   99.96      210,285   0.04   588,335,099          160,037 
                                           ------------  ------  -----------  -----  ------------  --------------- 
 7. To elect Tom Quigley                    588,114,539   99.96      220,560   0.04   588,335,099          160,037 
                                           ------------  ------  -----------  -----  ------------  --------------- 
 8. To re-appoint PricewaterhouseCoopers 
  LLP as auditors to 
  the Company                               561,772,368   95.47   26,627,803   4.53   588,400,171           94,965 
                                           ------------  ------  -----------  -----  ------------  --------------- 
 9. To authorise the 
  Directors to fix the 
  remuneration of the 
  auditors                                  584,869,771   99.40    3,513,336   0.60   588,386,107          109,029 
                                           ------------  ------  -----------  -----  ------------  --------------- 
 10. To amend the Rules 
  of the Velocys plc 
  2021 Share Option 
  Scheme to reduce the 
  maximum dilution limit 
  from 25% to 10% of 
  the issued share capital                  564,627,866   95.99   23,560,183   4.01   588,188,049          307,087 
                                           ------------  ------  -----------  -----  ------------  --------------- 
 11. To authorise the 
  Directors to allot 
  equity securities 
  pursuant to the articles 
  of association of 
  the Company                               587,883,154   99.92      483,300   0.08   588,366,454          178,682 
                                           ------------  ------  -----------  -----  ------------  --------------- 
 12. To authorise the 
  Directors to allot 
  equity securities 
  for cash disapplying 
  pre-emption rights 
  in the Company's articles 
  of association                            272,045,100   90.99   26,945,753   9.01   298,990,853      289,504,283 
                                           ------------  ------  -----------  -----  ------------  --------------- 
 13. To authorise the 
  Company to purchase 
  its own shares                            544,015,025   95.89   23,332,203   4.11   567,347,228       21,147,908 
                                           ------------  ------  -----------  -----  ------------  --------------- 
 

* 'Vote withheld' is not a vote in law and is not counted in the calculation of the proportion of the votes 'For' and 'Against' a resolution.

Confirmation of Directorate Change

As previously announced, Philip Sanderson will be appointed as an Executive Director of the Company and as Chief Financial Officer with effect from 22 June 2020. Andrew Morris did not stand for re-election at the Annual General Meeting.

- Ends -

 
 For further information, please contact: Velocys 
    Henrik Wareborn, CEO 
    Andrew Morris, CFO 
    Lak Siriwardene, Director of Communications    [phone] 
 
   Panmure Gordon (UK) Limited (Nomad and 
    Joint Broker) 
    Hugh Rich (Corporate Broking) 
    Emma Earl (Corporate Finance) 
    John Prior (Corporate Finance)                 [phone] 
 
   Shore Capital Stockbrokers Limited (Joint 
    Broker) 
    Henry Willcocks (Corporate Broking) 
    Toby Gibbs (Corporate Advisory) 
    James Thomas (Corporate Advisory)              [phone] 
 
   Radnor Capital (Investor Relations) 
    Joshua Cryer 
    Iain Daly                                      [phone] 
 
   Buchanan (Financial PR) 
    Helen Tarbet 
    Simon Compton                                  [phone] 
 
 
  --Ends- 
 
  Notes to Editors 
 
  Velocys is an LSE-listed, international sustainable fuels 
  technology company, traded on the AIM, providing customers 
  with a technology solution to enable the production of negative 
  Carbon Intensity synthetic, drop-in fuels from a variety of 
  waste materials. Synthetic fuel is the only commercially available, 
  permanent alternative to fossil aviation fuels. The Velocys 
  technology is IP-protected in all major jurisdictions. 
 
  Two reference projects (Bayou Fuels, US, and Altalto, UK) 
  are designed to accelerate the adoption and standardise the 
  Velocys proprietary Fischer Tropsch (FT) technology with an 
  integrated end to end solution, including renewable power 
  and carbon sequestration. 
  Velocys is enabling commercial scale synthetic fuel production 
  in response to the clean energy transition, with significant 
  additional positive air quality impacts. 
  www.velocys.com 
 
 
 
 

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June 21, 2022 10:01 ET (14:01 GMT)