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LONDON - Equipmake Holdings PLC, a company specializing in electrification technologies for vehicles, announced Monday that its shareholders have approved all resolutions during a General Meeting (GM). The resolutions, which were voted on by poll, included authorizing the company’s directors to issue shares upon the conversion of Convertible Loan Notes (CLNs) by Caterpillar (NYSE:CAT) and to issue shares on CLN conversion without statutory pre-emption rights.
The voting results showed a significant majority in favor, with both resolutions receiving approximately 96.55% of the votes cast for and 3.45% against. Votes withheld amounted to 125,036,999, but as they are not considered a vote in law, they were not counted in the final percentages.
Equipmake, which operates in the automotive, truck, bus, and specialty vehicle industries, did not disclose the specific reasons for the share issuance or the potential impact on the company’s capital structure. The total number of ordinary shares in issue as of May 9, 2025, was 1,120,074,565, each carrying one vote, and the company confirmed it held no shares in treasury at that time.
The resolutions are part of the company’s strategic initiatives to advance its position in the market for electrification solutions. The full text of the resolutions passed at the GM is available on Equipmake’s website, as noted in the company’s statement.
This development comes as the automotive industry continues to transition towards electric vehicles and companies like Equipmake seek to capitalize on the growing demand for efficient and sustainable transportation technologies.
The information provided in this article is based on a press release statement from Equipmake Holdings PLC.
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