11 July 2023
Active Energy Group Plc
("Active Energy" or the "Company")
Result of AGM
Active Energy (AIM:AEG, OTCQB:ATGVF), the international biomass based renewable energy business, announces that at the Company's annual general meeting (the "AGM"), held earlier today, all the resolutions proposed at the AGM were duly passed. The proxy votes received from shareholders on each resolution are set out below.
A copy of a Company presentation will be available shortly at: https://www.aegplc.com/. In addition an interview with Michael Rowan, the Company's CEO, and the Company's Executive Management Team will be available shortly at https://www.proactiveinvestors.co.uk/LON:AEG/Active-Energy-Group-PLC.
Resolutions 1 to 6 inclusive were proposed as ordinary resolutions and Resolutions 7 to 10 were proposed as special resolutions of the Company.
Full details of the resolutions are set out in the Notice of AGM, published on the Company's website at:
| Resolution | Votes for | % of votes cast | Votes against | % of votes cast | Votes total* | % of share capital | Votes withheld** | |
| 1 | 69,587,642 | 99.96% | 29,546 | 0.04% | 69,617,188 | 43.01% | 35,184 | |
| 2 | 69,514,184 | 99.85% | 103,064 | 0.15% | 69,617,248 | 43.01% | 35,154 | |
| 3 | 58,773,042 | 99.82% | 103,064 | 0.18% | 58,876,106 | 36.37% | 10,776,296 | |
| 4 | 69,453,167 | 99.85% | 104,051 | 0.15% | 69,557,218 | 42.97% | 95,184 | |
| 5 | 51,396,077 | 73.89% | 18,159,894 | 26.11% | 69,555,971 | 42.97% | 96,431 | |
| 6 | 69,379,621 | 99.66% | 237,594 | 0.34% | 69,617,215 | 43.01% | 35,187 | |
| 7 | 48,895,270 | 99.52% | 237,879 | 0.48% | 49,133,149 | 30.35% | 35,188 | |
| 8 | 48,905,841 | 99.54% | 227,306 | 0.46% | 49,133,147 | 30.35% | 35,188 | |
| 9 | 49,035,021 | 99.80% | 98,129 | 0.20% | 49,133,150 | 30.35% | 35,187 | |
| 10 | 49,098,143 | 99.93% | 35,039 | 0.07% | 49,133,182 | 30.35% | 35,154 | |
| * | Total votes cast do not include withheld votes |
| ** | A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'For' or 'Against' any of the resolutions |
Although resolution 5 was passed, the Board notes that this resolution received more than 20% of independent votes against the Board's recommendation. The Board acknowledges this and remains committed to continuing an open dialogue with the Company's shareholders on this matter.
Enquiries:
| Active Energy Group Plc | Michael Rowan (Chief Executive Officer) Michelle Fagan (Chief Financial Officer) | info@aegplc.com |
| Allenby Capital Limited Nominated Adviser and Broker | Nick Naylor/James Reeve/Daniel Dearden-Williams (Corporate Finance) Amrit Nahal (Sales/Corporate Broking) | Office: +44 (0)20 3328 5656 |
| Camarco Financial PR Adviser | Tom Huddart / Emily Hall / Lily Pettifar | Office: +44 (0)20 3757 4980 |
| Scoville PR US PR Adviser | John Williams | aeg@camarco.co.uk |
| Website | | |
| www.aegplc.com | www.linkedin.com/company/activeenergy
| @aegplc |
About Active Energy Group:
Active Energy Group plc is a London listed (AIM: AEG) renewable energy company that has developed a proprietary technology which transforms low-cost biomass material into high-value green fuels. Its patented product CoalSwitch® is the world's only drop-in biomass fuel that can be mixed at any ratio with coal or completely replace coal in existing coal-fired power stations without requiring significant plant modification. Active Energy Group's immediate strategic focus is the production and commercialisation of CoalSwitch®.
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