SIMEC Atlantis Energy Limited
("SAE Renewables", "SAE" or the "Company")
18 July 2024
Result of AGM
SAE announces that at the Annual General Meeting of the Company held today, all resolutions put to shareholders were duly passed, with the exception of special resolution 8 which was not passed.
All resolutions were decided on a poll. The Company will engage with the largest of those shareholders that voted against Resolution 8 to understand their reasoning.
The results of the votes are set out below:
| | FOR* | AGAINST |
| ||
| RESOLUTIONS | Votes | % of votes cast | Votes | % of votes cast | Withheld** |
| Ordinary Resolution 1 | 270,827,984
| 100.00% | 0 | 0.00% | 1,000 |
| To receive the financial statements for the year ended 31 December 2023 together with Directors' Reports and the Auditors' Report | |||||
| Ordinary Resolution 2 | 235,459,318 | 87.14% | 34,737,149 | 12.86% | 632,517 |
| To approve the Remuneration Report and Directors' fee | |||||
| Ordinary Resolution 3 | 270,459,743
| 99.89% | 300,000 | 0.11% | 69,241 |
| To reappoint Nexia Singapore PAC as audit | |||||
| Ordinary Resolution 4 | 270,525,984 | 99.89% | 300,000 | 0.11% | 3,000 |
| To set the remuneration of the auditors | |||||
| Ordinary Resolution 5 | 235,541,570 | 87.15% | 34,721,138 | 12.85% | 566,276 |
| To re-elect John Anthony Clifford Woodley as a director of the Company | |||||
| Ordinary Resolution 6 To re-elect Simon Matthew Hirst as a director of the Company | 269,962,008 | 99.89% | 300,700 | 0.11% | 566,276 |
| Special Resolution 7 To authorise the directors to allot and issue equity securities | 257,343,705 | 95.23% | 12,896,916 | 4.77% | 588,363 |
| Special Resolution 8 To authorise the directors to dis-apply pre-emption rights, as set out in the notice of meeting | 7,839,111 | 2.90% | 262,319,356 | 97.10% | 670,517 |
| Special Resolution 9 To authorise the directors to grant options and awards under the Company's Share Plans | 240,470,246 | 88.98% | 29,770,375 | 11.02% | 588,363 |
| Special Resolution 10 To authorise the directors to make market purchases of own shares | 253,901,589 | 93.76% | 16,904,308 | 6.24% | 23,087 |
|
*Votes received for the resolutions includes votes allowing the Chairman's discretion. ** 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 the resolution. | |||||
As the date of the Annual General Meeting the Company had in issue 722,812,335 ordinary shares.
-ENDS-
For further information, please contact:
| SAE Renewables Sean Parsons, Director of External Affair | +44 (0)7739 832 446 |
| | |
| Strand Hanson Limited (Nominated and Financial Adviser) Richard Johnson Rory Murphy David Asquith | +44 (0)20 7409 3494 |
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| Zeus Capital Limited (Broker) Louisa Waddell Simon Johnson
| +44 (0)20 3829 5000 |
Notes to Editors
SAE Renewables is a global developer, owner and operator of sustainable energy projects. SAE owns the world's flagship tidal stream project, MeyGen. SAE is also the owner of the Uskmouth Power Station site that is being repurposed into a sustainable energy park, initially housing one of the UK's largest battery energy storage projects. https://www.saerenewables.com/
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