Street Calls of the Week
LONDON - AFC Energy PLC (AIM:AFC), a hydrogen power generation technologies provider, announced Friday it has concluded shareholder engagement following its April 23 Annual General Meeting (AGM) resolution vote and made changes to its broker arrangements.
The company reported that Resolution 8, concerning its 2024 remuneration report, passed with 77.09% of proxy votes in favor. Despite securing majority approval, AFC Energy acknowledged that a significant minority of shareholders voted against the resolution.
In line with the QCA Corporate Governance Code 2023, the company conducted further engagement with its largest shareholders to understand their concerns. After considering the feedback, AFC Energy’s Board maintained its position that the approved Remuneration Report serves the best interests of value creation for all shareholders.
Additionally, the company announced that RBC Europe Limited will no longer serve as its Joint Broker, effective immediately. This change follows a review of AFC Energy’s advisory relationships. Zeus will continue as Joint Broker alongside Peel Hunt, which remains the company’s Nominated Adviser and Joint Broker.
The information was disclosed in a press release statement issued by AFC Energy.
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