HydroDec Group plc Result of AGM (9573C)
June 20 2019 - 11:49AM
UK Regulatory
TIDMHYR
RNS Number : 9573C
HydroDec Group plc
20 June 2019
20 June 2019
Hydrodec Group plc
("Hydrodec", the "Company" or the "Group")
Result of AGM
Hydrodec Group plc (AIM: HYR), the clean-tech industrial oil
re-refining group, announces that at its Annual General Meeting
held earlier today, all resolutions were duly passed on a poll.
The voting results for the resolutions are included below:
Resolution Votes % of Votes % of Total % of
For* votes Against votes votes issued
cast cast cast share
capital
voted
1. To receive the Report
and Accounts for the
year ended 31 December
2018 18,137,130 100.00 Nil 0.00 18,137,130 63.92
2. To re-elect Dame
Mary Archer as a director
of the Company 17,972,718 99.09 164,448 0.91 18,137,166 63.92
3. To re-elect Andrew
Black as a director
of the Company 18,135,596 99.996 808 0.004 18,136,404 63.92
----------- ------- --------- ------- ----------- ---------
4. To re-elect David
Dinwoodie as a director
of the Company 18,135,420 99.99 984 0.01 18,136,404 63.92
----------- ------- --------- ------- ----------- ---------
5. To elect Christopher
Ellis as a director
of the Company 18,135,120 99.99 1,284 0.01 18,136,404 63.92
----------- ------- --------- ------- ----------- ---------
6. To re-elect Lord
Moynihan as a director
of the Company 18,135,595 99.99 1,571 0.01 18,137,166 63.92
----------- ------- --------- ------- ----------- ---------
7. To re-appoint KPMG
LLP as auditors of the
Company 18,135,887 99.997 489 0.003 18,136,376 63.92
----------- ------- --------- ------- ----------- ---------
8. To authorise the
Directors to determine
the remuneration of
the auditors 18,136,968 99.999 200 0.001 18,137,168 63.92
----------- ------- --------- ------- ----------- ---------
9. To authorise the
Directors to allot relevant
securities under section
551 of the Companies
Act 2006 17,972,447 99.09 164,719 0.91 18,137,166 63.92
----------- ------- --------- ------- ----------- ---------
10. To empower to a
limited extent the Directors
to allot shares as if
section 561(1) of the
Companies Act 2006 did
not apply 17,971,947 99.09 165,219 0.91 18,137,166 63.92
----------- ------- --------- ------- ----------- ---------
11. To authorise the
Company to make market
purchases of its own
shares 17,973,523 99.10 163,643 0.90 18,137,166 63.92
----------- ------- --------- ------- ----------- ---------
*Votes "For" include votes giving the Chairman discretion.
For further information please contact:
Hydrodec Group plc hydrodec@vigocomms.com
Lord Moynihan, Executive Chairman
David Dinwoodie, Chief Executive Officer
Arden Partners plc (Nominated Adviser and Broker) 0207 614 5900
Corporate Finance: Ciaran Walsh, Maria Gomez De Olea
Sales: Aimee Kerslake
Vigo Communications (PR adviser to Hydrodec) 020 7390 0230
Patrick d'Ancona
Chris McMahon
Notes to Editors:
Hydrodec Group plc is a clean-tech industrial oil re-refining
group with operations in the USA.
Hydrodec's technology is a proven, highly efficient, oil
re-refining and chemical process principally targeted at the
multi-billion US dollar market for transformer oil used by the
world's electricity industry. MarketsandMarkets forecasts that the
global transformer oil market is expected to grow from USD 1.98
billion in 2015 to USD 2.79 billion by 2020 at a CAGR of 7.14%.
Used transformer oil is processed with distinct competitive
advantage delivered through very high recoveries (near 100%),
producing 'as new' high quality oils at competitive cost and
without environmentally harmful emissions. The process also
completely eliminates PCBs (polychlorinated biphenyls), a toxic
additive banned under international regulations.
In 2016 Hydrodec received carbon credit approval from the
American Carbon Registry ("ACR"), enabling its product to be sold
with a carbon offset and creating an incremental revenue stream.
The Group is now generating carbon offsets through the re-refining
of used transformer oil, which would otherwise ordinarily be
incinerated or disposed of in an unsustainable manner. This is a
highly distinctive feature for the Group, confirming (as far as the
Board is aware) Hydrodec as the only oil re-refining business in
the world to receive carbon credits for its output. This is a
significant endorsement of the Company's proprietary technology and
standing as a leader in its field.
Hydrodec's shares are listed on the AIM Market of the London
Stock Exchange. For further information, please visit
www.hydrodec.com.
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END
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