Hydrogen Utopia International PLC on Tuesday said the board has decided to withdraw a resolution from the agenda of its annual general meeting.

Due to be held on Monday next week, the London-based company, which specialises in the conversion of waste plastic into hydrogen and other carbon-free fuels, said resolution four related to the approval of the company’s incentive plan.

Since publication of the notice of AGM early this month, Hydrogen Utopia said it has engaged with some shareholders regarding the resolution and has now decided not to implement the incentive plan ‘at this time’.

Hydrogen Utopia said this decision does not affect the validity of the AGM notice or any other of the resolutions.

Shares in Hydrogen Utopia were down 2.9% to 8.50 pence each in London on Tuesday afternoon.

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