Itm Power (LSE:ITM) — General Meeting

0:01 Good morning, ladies and gentlemen. Welcome to the ITM POWER PLC general meeting proceedings. Throughout this presentation, attendees will be in listen only mode. And I'd also like to remind you this presentation is being recorded. I'd now like to hand you over to sir Roger Bone, chairman of ITM POWER PLC. Good morning, sir Roger. Good morning. Thank you, and welcome, everybody. Welcome to this general meeting of ITM POWER which has been convened, solely for the purpose of seeking the shareholder authorities necessary

0:31 to implement the fundraising described in the circular to shareholders of the October 15. As with the general meeting held at the end of October, Given the the current situation and the guidance in response to, the ongoing COVID nineteen pandemic, the board has taken the decision, once again to hold this general meeting in virtual manner as well as at a physical location. Shareholders may ask any questions relating strictly to the business of the general meeting via the investor meet chat facility.

1:21 But I should point out that there will not be any presentation by the executive team on this occasion, and this meeting is not a forum, therefore, for discussion or for q and a's about the company's business. The notice of the meeting was published online and posted to shareholders on the twenty eighth of October this year, and I am pleased to confirm that a quorum of shareholders is present at the physical venue. Therefore, this meeting is properly constituted, and I can declare, the meeting, formally, open. Votes for each of the resolutions put before the general meeting is by way of a poll, and the proxy votes cast by shareholders are reflected in the voting as I will set ours verbally and will be displayed on the screen for each resolution.

2:24 Resolution number one will be dealt with as an ordinary resolution and requires a simple majority to be passed. Resolution number two is a special resolution and requires a 75% vote in favor of the resolution to be, to be passed. So I will take the notice of the general meeting as read, and I would now like formally to propose each of the resolutions set out in the notice, to the meeting. If we could move to the first resolution, please. Resolution number one.

3:07 This resolution will grant the director's authority to allot ordinary shares in the company up to an aggregate nominal amount of £3,500,000 for the purposes of the firm placing the open offer and the share subscription. The authority given by this resolution will expire ninety days after the date of the passing of the resolution. I therefore propose resolution one as an ordinary, resolution,

3:47 and I report the the votes cast by proxy. Total votes cast, 241,319,390. In favor and with the chairman, two hundred and forty one thousand two hundred and forty one million seventy thousand seven hundred and seventy nine against 131,248, withheld 117,343. So I therefore declare this resolution, carried.

4:34 If we could then turn, please, to the second resolution. This is the disapplication of preemption provisions and conditional on the passing of resolution one, this resolution, resolution two, disapplies statutory preemption rights in connection with the authority conferred under resolution one. I propose resolution two, therefore, as a special resolution, and I report the votes cast by proxy. Total votes cast, 241,319,453.

5:27 In favor and with the chairman, 233,849,009,870 against 7,388,942, withheld 80,641. I therefore declare, the resolution, carried. There have not been any questions related to strictly related to the business of this meeting, and I can therefore declare this general meeting concluded and closed. Thank you very much indeed.

6:21 Paul, back to you. Thank you indeed, sir Roger. On behalf of ITM POWER PLC, we'd like to thank you for attending today's broadcast. That now concludes today's session. Thank you very much, and good morning.