20 March 2025
Pressure Technologies plc
("Pressure Technologies" or "the Company")
Results of 2025 Annual General Meeting
Pressure Technologies plc (AIM: PRES) announces the voting results of its 2025 Annual General Meeting (the "AGM") held today.
Twelve resolutions were proposed by the Board, and all were duly passed.
The Board acknowledges the high proportion of votes cast against Resolution 10, regarding the authority to allot shares. The Board will seek to engage with shareholders over the coming weeks to better understand the rationale for the votes cast against this resolution.
The total votes were cast as follows:
|
Resolution |
For |
% |
Against |
% |
Withheld** |
|
|
1 |
To receive and adopt the FY24 audited Annual Report & Financial Statements |
25,705,284 |
98.5% |
386,243 |
1.5% |
25,197 |
|
2 |
To approve the Directors' Remuneration Report in the FY24 Annual Report & Financial Statements |
25,091,084 |
98.4% |
417,557 |
1.6% |
608,083 |
|
3 |
To re-appoint Nick Salmon as a Director |
25,093,284 |
96.1% |
1,015,357 |
3.9% |
8,083 |
|
4 |
To re-appoint Chris Walters as a Director |
25,704,284 |
98.5% |
404,357 |
1.5% |
8,083 |
|
5 |
To re-appoint Mike Butterworth as a Director |
25,093,084 |
96.1% |
1,015,557 |
3.9% |
8,083 |
|
6 |
To re-appoint Tim Cooper as a Director |
25,104,284 |
96.2% |
1,004,357 |
3.8% |
8,083 |
|
7 |
To re-appoint Richard Staveley as a Director |
25,694,284 |
98.4% |
414,357 |
1.6% |
8,083 |
|
8 |
To re-appoint Cooper Parry as Auditors |
25,705,284 |
98.5% |
392,243 |
1.5% |
19,197 |
|
9 |
To authorise the Audit & Risk Committee to determine the Auditors' remuneration |
25,705,284 |
98.5% |
392,243 |
1.5% |
19,197 |
|
10 |
To authorise the Directors to allot shares |
18,326,289 |
70.2% |
7,782,352 |
29.8% |
8,083 |
|
11 |
To authorise the Company to purchase its own shares* |
25,705,641 |
98.5% |
403,000 |
1.5% |
8,083 |
|
12 |
To change the registered name of the Company to Chesterfield Special Cylinders Holdings plc* |
25,699,883 |
98.5% |
391,644 |
1.5% |
25,197 |
* Special Resolution
** A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'For' and 'Against' any of the resolutions.
Notes
1. Any proxy appointments, which gave discretion to the Chair, have been included in the 'for' votes total.
2. At the date of the notice of the AGM the total number of shares in issue was 38,667,163.
Change of Name to Chesterfield Special Cylinders Holdings plc
The Board is pleased to announce that the special resolution to change the Company's name to Chesterfield Special Cylinders Holdings plc passed its shareholder vote. The change of name and the associated ticker to 'CSC' is expected to become effective on 21st March 2025.
All other Company details including the ISIN and SEDOL will remain unchanged. Shareholders are unaffected by the changes and existing share certificates will remain valid and should be retained.
For further information, please contact:
|
Pressure Technologies plc Chris Walters, Chief Executive |
Tel: 0333 015 0710 company.secretary@pressuretechnologies.co.uk |
|
Singer Capital Markets (Nomad and Broker) Rick Thompson / Asha Chotai |
Tel: 0207 496 3000 |
COMPANY DESCRIPTION
Pressure Technologies plc is based in Sheffield and operates through its wholly owned subsidiary Chesterfield Special Cylinders ("CSC").
CSC is a market leading designer, manufacturer and supplier of safety-critical, high-pressure containment products and services to a global customer base in the defence, hydrogen energy, oil & gas and industrial markets.
For more information on CSC, please visit www.chesterfieldcylinders.com