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 resolution 9 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 9 to understand their reasoning.
The results of the poll are set out below:
| FOR* | AGAINST | ||||||||||
| RESOLUTIONS | Votes | % of votes cast | Votes | % of votes cast | Withheld** | ||||||
| Ordinary Resolution 1 | 270,396,354 | 99.79% | 574,565 | 0.21% | 4,075,502 | ||||||
| To receive the audited financial statements for the year ended 31 December 2024 together with the Directors' Reports and the Auditors' Report | |||||||||||
| Ordinary Resolution 2 | 262,784,090 | 95.87% | 11,332,678 | 4.13% | 929,653 | ||||||
| To approve the Directors’ remuneration report | |||||||||||
| Ordinary Resolution 3
To approve the Directors’ fees |
257,969,209 | 94.11% | 16,147,559 | 5.89% | 929,653 | ||||||
| Ordinary Resolution 4 | 269,545,158 | 99.49% | 1,369,544 | 0.51% | 4,131,719 | ||||||
| To reappoint Nexia Singapore PAC as auditor | |||||||||||
| Ordinary Resolution 5 | 270,397,917 | 99.81% | 518,785 | 0.19% | 4,129,719 | ||||||
| To set the remuneration of the auditors | |||||||||||
| Ordinary Resolution 6 | 265,397,926 | 97.96% | 5,516,776 | 2.04% | 4,131,719 | ||||||
| To re-elect Duncan Stuart Black as a Director of the Company | |||||||||||
| Ordinary Resolution 7
To re-elect Graham Matthew Reid as a Director of the Company |
265,397,926 | 97.96% | 5,516,776 | 2.04% | 4,131,719 | ||||||
| Ordinary Resolution 8
To authorise the Directors to allot and issue equity securities |
261,344,940 | 95.33% | 12,788,861 | 4.67% | 912,620 | ||||||
| Ordinary Resolution 9
To authorise the Directors to dis-apply pre-emption rights, as set out in the notice of meeting |
34,885,322 | 12.73% | 239,250,479 | 87.27% | 910,620 | ||||||
| Ordinary Resolution 10
To authorise the Directors to grant options and awards under the Company’s Share Plans |
266,339,042 | 98.29% | 4,630,622 | 1.71% | 4,076,757 | ||||||
| Ordinary Resolution 11
To authorise the Directors to make amendments to the Company’s Share Plans |
261,348,218 | 96.44% | 9,637,946 | 3.56% | 4,060,257 | ||||||
| Ordinary Resolution 12
To authorise the Directors to make market purchases of own shares |
269,744,048 | 98.39% | 4,408,253 | 1.61% | 894,120 | ||||||
| Special Resolution 13
To authorise the Directors to make a name change |
268,202,357 | 97.83% | 5,949,944 | 2.17% | 894,120 | ||||||
| Special Resolution 14
To authorise the Directors to amend the Company’s constitution |
249,312,103 | 90.95% | 24,804,396 | 9.05% | 929,922 | ||||||
| Ordinary Resolution 15
To authorise Directors’ fees |
259,444,857 | 94.34% | 15,553,131 | 5.66% | 48,433 | ||||||
|
*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. |
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As the date of the Annual General Meeting the Company had in issue 722,812,335 ordinary shares.
-ENDS-
| SAE | 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 |
| Zeus Capital Limited (Broker) | Louisa Waddell, Simon Johnson | +44 (0)20 3829 5000 |
Notes to Editors
SAE
SAE is a global developer, owner and operator of sustainable energy projects. SAE owns the world’s flagship tidal stream project, MeyGen, and the Uskmouth Power Station site, that is being repurposed into a sustainable energy park that will become one of the UK’s largest battery storage sites. https://www.ampeak.energy/
SAE recently released a video animation highlighting the scale and benefits of the USEP site. This can be viewed here.
SAE’s strategy: “Building a Sustainable Future to 2035”, can be viewed here.
