Result of AGM

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

To receive the financial statements for the year ended 31 December 2023 together with Directors' Reports and the Auditors' Report

270,827,984 100.00% 0  0.00% 1,000
Ordinary Resolution 2

To approve the Remuneration Report and Directors' fee

235,459,318 87.14% 34,737,149  12.86% 632,517
Ordinary Resolution 3

To reappoint Nexia Singapore PAC as audit

270,459,743 99.89% 300,000  0.11% 69,241
Ordinary Resolution 4

To set the remuneration of the auditors

270,525,984 99.89% 300,000  0.11% 3,000
Ordinary Resolution 5

To re-elect John Anthony Clifford Woodley as a director of the Company

235,541,570 87.15% 34,721,138  12.85% 566,276
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.

 

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
   
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/