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21st Jun 2022

Results of Annual General Meeting

Velocys plc (VLS.L), the sustainable fuels technology company, announces that, at its Annual General Meeting held earlier today, all resolutions put to shareholders were duly passed by means of a Poll.

Full details of the resolutions passed are set out in the Notice of Meeting which is available on the Company’s website

ResolutionsFor / DiscretionAgainstTotalVote withheld*
1. To receive, consider and adopt the annual accounts of the Company as at 31 December 2021 and the Directors’ and auditors’ reports thereon588,201,27299.97184,8350.03588,386,107109,029
2.  To approve the Directors’ Remuneration Report for the year ended 31 December 2021550,447,08299.323,788,5930.68554,235,67534,259,461
3. To re-elect Philip Holland588,053,82399.95281,2760.05588,335,099160,037
4. To re-elect Henrik Wareborn588,053,77399.95281,2760.05588,335,099160,037
5. To re-elect Darran Messem588,053,82399.95281,2760.05588,335,099160,037
6. To elect Ann Markey588,124,81499.96210,2850.04588,335,099160,037
7. To elect Tom Quigley588,114,53999.96220,5600.04588,335,099160,037
8. To re-appoint PricewaterhouseCoopers LLP as auditors to the Company561,772,36895.4726,627,8034.53588,400,17194,965
9. To authorise the Directors to fix the remuneration of the auditors584,869,77199.403,513,3360.60588,386,107109,029
10. To amend the Rules of the Velocys plc 2021 Share Option Scheme to reduce the maximum dilution limit from 25% to 10% of the issued share capital564,627,86695.9923,560,1834.01588,188,049307,087
11. To authorise the Directors to allot equity securities pursuant to the articles of association of the Company587,883,15499.92483,3000.08588,366,454178,682
12. To authorise the Directors to allot equity securities for cash disapplying pre-emption rights in the Company’s articles of association272,045,10090.9926,945,7539.01298,990,853289,504,283
13. To authorise the Company to purchase its own shares544,015,02595.8923,332,2034.11567,347,22821,147,908

* ‘Vote withheld’ is not a vote in law and is not counted in the calculation of the proportion of the votes ‘For’ and ‘Against’ a resolution.

Confirmation of Directorate Change

As previously announced, Philip Sanderson will be appointed as an Executive Director of the Company and as Chief Financial Officer with effect from 22 June 2020. Andrew Morris did not stand for re-election at the Annual General Meeting.

For further information, please contact:

Henrik Wareborn, CEO
Andrew Morris, CFO
Lak Siriwardene, Director of Communications
+44 1865 800821

Panmure Gordon (UK) Limited (Nomad and Joint Broker)
Hugh Rich (Corporate Broking)
Emma Earl (Corporate Finance)
John Prior (Corporate Finance)
+44 20 7886 2500

Shore Capital Stockbrokers Limited (Joint Broker)
Henry Willcocks (Corporate Broking)
Toby Gibbs (Corporate Advisory)
James Thomas (Corporate Advisory)
+44 20 7408 4090

Radnor Capital (Investor Relations)
Joshua Cryer
Iain Daly
+44 20 3897 1830

Buchanan (Financial PR)
Helen Tarbet
Simon Compton
+44 20 7466 5000

Notes to editors

Velocys is an LSE-listed, international sustainable fuels technology company, traded on the AIM, providing customers with a technology solution to enable the production of negative Carbon Intensity synthetic, drop-in fuels from a variety of waste materials. Synthetic fuel is the only commercially available, permanent alternative to fossil aviation fuels. The Velocys technology is IP-protected in all major jurisdictions.

Two reference projects (Bayou Fuels, US, and Altalto, UK) are designed to accelerate the adoption and standardise the Velocys proprietary Fischer Tropsch (FT) technology with an integrated end to end solution, including renewable power and carbon sequestration.

Velocys is enabling commercial scale synthetic fuel production in response to the clean energy transition, with significant additional positive air quality impacts.

Latest News

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Velocys secures US$40MM of growth capital and begins new chapter as a private sustainable aviation fuel technology company

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Interim results for the six months ended 30 June 2023