TIDMSNOX
RNS Number : 1003D
SulNOx Group PLC
23 October 2020
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. The directors take
responsibility for this announcement.
23 October 2020
SulNOx Group Plc (the "Company" or "SulNOx")
Result of AGM, Resignation of Auditors and Company Update
(Aquis Stock Exchange: SNOX)
AGM Results
The Company held its annual general meeting ("AGM") earlier
today. The AGM was a closed meeting due to the current Covid-19
restrictions, with only the required number of members for the
meeting to be quorate and all resolutions being voted by proxy. The
results of the resolutions were as follows:
Resolution 1 - Receiving and Considering the Accounts
78,512,880 in favour, 0 against
The resolution was therefore passed.
Resolution 2 - Re-Appointment of Director
13,000,441 in favour, 65,398,116 against
The resolution was therefore not passed, however Ingeborg Majken
Korsgård resigned as a director yesterday, as announced this
morning.
Resolution 3 - Reappointment of Auditors
78,512,880 in favour, 0 against
This resolution was therefore passed, however as stated below,
Shipleys LLP have today resigned as auditors of the Company.
Resolution 4 - Directors' Authority to Allot Shares
230,441 in favour, 78,012,439 against
The resolution was therefore not passed.
Resolution 5 - Disapplication of Pre-emption Rights
500,441 in favour, 78,012,439 against
The resolution was therefore not passed.
Resolution 6 - Authority to purchase the Company's own
shares
500,441 in favour, 78,012,439 against
The resolution was therefore not passed.
Resignation of Auditors
The Company has today received a letter of resignation from
Shipleys LLP, the auditors of the Company and its two wholly owned
subsidiaries, SulNOx Research and Development Limited and SulNOx
Fuel Fusions Limited. Shipleys LLP have confirmed that there are no
circumstances connected with their ceasing to hold office which
they consider should be brought to the attention of the members or
creditors of the Company under section 519 of the Companies Act
2006.
Company Update
As announced earlier today, Graham Lyon, previously independent
non-executive chairman, resigned from the board of directors (the
"Board") with effect from the completion of the earlier AGM,
following Majken Korsgaard, independent non-executive director, who
resigned yesterday. The Board therefore now consists of Nicholas
Nelson, Chief Executive Officer (who was reappointed to the Board
today) and Simon Retter, Finance Director.
As announced on 16 October 2020, a request to requisition a
general meeting of the Company ("General Meeting") had been
received to remove Mr Lyon, Ms Korsgaard and Mr Retter as directors
of the Company and to appoint four new directors. Previously, as
announced on 4 September 2020, a similar request had been received
to remove Mr Nelson, who stood down on 21 September 2020, but
re-joined the Board with effect from today. The Board will discuss
with its advisers how best to address matters following lack of
confidence expressed by certain shareholders as evidenced by the
results of the AGM resolutions and the requisition requests for
General Meetings.
Enquiries:
SulNOx Group Plc
Nicholas Nelson, Chief Executive sulnox@flagstaffcomms.com
Media and Investors :
Flagstaff Strategic and Investor sulnox@flagstaffcomms.com
Communications 020 7129 1474
Tim Thompson / Fergus Mellon
----------------------------
AQSE Corporate Adviser :
Allenby Capital Limited
John Depasquale / Nick Harriss
/ James Hornigold 020 3328 5656
----------------------------
The directors take responsibility for this announcement.
Information on Mr Nelson under Appendix 1 of the AQSE Growth
Market Rules for Issuers
Nicholas Christian Paul Nelson, Age 55
Current Directorships
SULNOX RESEARCH & DEVELOPMENT LTD
SULNOX FUEL FUSIONS LTD
KATS2020 LIMITED
PHIMEDIX PLC
Former Directorships within the previous 5 years
SULNOX PLC
EQUATORIAL MINE & EXP LIMITED
EASTINCO MINING AND EXPLORATION PLC
MATTHEWS FLOWER GROUP PLC
ZAIM CREDIT SYSTEMS PLC
AMASYA RESOURCES LIMITED
Mmultimedia Factory (U.K.) Ltd In 1997, Nicholas Nelson was a
director in Mmultimedia Factory (U.K.) Ltd (also known as
Multimedia Factory (UK) Ltd) that was subject to a winding up order
due to the deficiency towards creditors amounting to GBP 44,014.00.
As the amounts due were mainly loans and expenses of directors, no
further action was taken and the winding up process was closed.
Mr Nelson holds 270,000 ordinary shares of 2 pence each in the
capital of the Company.
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END
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