28 June 2024
CT AUTOMOTIVE GROUP PLC
("CT Automotive" or the "Company")
Result of Annual General Meeting
CT Automotive, a leading designer, developer and supplier of interior components to the global automotive industry, is pleased to announce that all resolutions proposed to shareholders at its Annual General Meeting held at 9:00 a.m. today were duly passed.
The total number of proxy votes received in respect of all resolutions were as follows:
| Resolution | Votes For | % For | Votes Against | % Against | Total | Total votes cast as % of issued share capital | Withheld |
| |
| Ordinary Resolutions | |||||||||
| 1 | To receive the Annual Report and Accounts for year ending 31 December 2023 | 50,111,721 | 100.00% | 0 | 0% | 50,111,721 | 68.09% | 0 |
|
| 2 | To reappoint Raymond Bench as a Director of the Company. | 50,111,721 | 100.00% | 0 | 0% | 50,111,721 | 68.09% | |
|
| 3 | To reappoint Francesca Ecsery as a Director of the Company | 50,111,721 | 100.00% | 0 | 0% | 50,111,721 | 68.09% | 0 |
|
| 4 | To reappoint Nick Timberlake as a Director of the Company | 50,111,721 | 100.00% | 0 | 0% | 50,111,721 | 68.09% | 0 |
|
| 5 | To reappoint Geraint Davies as a Director of the Company | 50,111,721 | 100.00% | 0 | 0% | 50,111,721 | 68.09% | 0 |
|
| 6 | To reappoint Simon Phillips as a Director of the Company | 50,111,721 | 100.00% | 0 | 0% | 50,111,721 | 68.09% | 0 |
|
| 7 | To reappoint Anna Brown as a Director of the Company | 50,111,721 | 100.00% | 0 | 0% | 50,111,721 | 68.09% | 0 |
|
| 8 | To reappoint BDO LLP as auditors of the Company | 50,111,721 | 100.00% | 0 | 0% | 50,111,721 | 68.09% | 0 |
|
| 9 | To authorise the Audit and Risk Committee to determine the remuneration of the Company's auditors | 50,111,721 | 100.00% | 0 | 0% | 50,111,721 | 68.09% | 0 |
|
| 10 | Authority for directors to allot shares | 50,111,721 | 100.00% | 0 | 0% | 50,111,721 | 68.09% | 0 |
|
|
| |||||||||
| Special Resolutions | |||||||||
| 11 | Authority for directors to allot shares on a non-pre-emptive basis | 44,672,045 | 89.14% | 5,439,676 | 11% | 50,111,721 | 68.09% | 0 |
|
For further information please contact:
| CT Automotive Simon Phillips, Chief Executive Officer Anna Brown, Chief Financial Officer
| Via Novella |
| Novella Communications Tim Robertson, Claire de Groot, Safia Colebrook
| Tel: +44 (0)20 3151 7008 ctautomotive@novella-comms.com |
| Liberum (Nominated Adviser and Broker) Richard Lindley
| Tel: +44 (0)20 3100 2000 |
Notes to Editors
CT Automotive is engaged in the design, development and manufacture of bespoke automotive interior finishes (for example, dashboard panels and fascia finishes) and kinematic assemblies (for example, air registers, arm rests, deployable cup holders and storage systems), as well as their associated tooling, for the world's leading automotive original equipment suppliers ("OEMs") and global Tier One manufacturers.
The Group is headquartered in the UK with a low cost manufacturing footprint. Key production facilities are located in Shenzhen and Ganzhou, China complemented by additional manufacturing facilities in Mexico, Türkiye and Czechia.
CT Automotive's operating model enables it to pursue a price leadership strategy, supplying high quality parts to customers at a lower overall landed cost than competitors. This has helped the Group build a high-quality portfolio of OEM customers, both directly and via Tier One suppliers including Forvia and Marelli. End customers include volume manufacturers, such as Nissan, Ford, GM and Volkswagen Audi Group, and premium luxury car brands such as Bentley and Lamborghini. In addition, the Group supplies all our customer base with a range of products for PHEV and BEV platforms and supplies electric car manufacturers, including Rivian and a US based major EV OEM.
The Group currently supplies component part types to over 57 different models for 22 OEMs. Since its formation, the Group has been one of the very few new entrants to the market, which is characterised by high barriers to entry.
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