Result of Annual General Meeting

CT Automotive Group PLC

13 July 2023

 

13 July 2023

CT AUTOMOTIVE GROUP PLC

("CT Automotive" or the "Company")

Result of Annual General Meeting

CT Automotive, a leading designer, developer and supplier of interior components to the global automotive industry, is pleased to announce that all resolutions proposed to shareholders at its Annual General Meeting held at 9:00 a.m. today were duly passed.

The total number of proxy votes received in respect of all resolutions were as follows:

Resolution		Votes For	% For	Votes Against	% Against	Total votes cast as % of issued share capital	Total	Withheld
Ordinary Resolutions
1	To receive the Annual Report and Accounts	28,801,032	100	0	0	39.13	28,801,032	0
2	To re-appoint Simon Phillips as a director of the Company	28,801,032	100	0	0	39.13	28,801,032	0
3	To re-appoint Scott McKenzie as a director of the Company	28,801,032	100	0	0	39.13	28,801,032	0
4	To re-appoint Anna Brown as a director of the Company	28,801,032	100	0	0	39.13	28,801,032	0
5	To re-appoint Francesca Ecsery as a director of the Company	28,801,032	100	0	0	39.13	28,801,032	0
6	To re-appoint Raymond Bench as a director of the Company	28,801,032	100	0	0	39.13	28,801,032	0
7	To reappoint auditors of the Company	28,801,032	100	0	0	39.13	28,801,032	0
8	To authorise the directors to determine the auditor's remuneration	28,801,032	100	0	0	39.13	28,801,032	0
9	Authority for directors to allot shares	28,801,032	100	0	0	39.13	28,801,032	0
Special Resolutions
10	Authority for directors to allot shares on a non-pre-emptive basis	23,909,356	83.02	4,891,676	16.98	39.13	28,801,032	0

1.    Proxy appointments which gave discretion to the Chairman of the AGM have been included in the "For" total for the appropriate resolution.

2.    Votes "For" and "Against" any resolution are expressed as a percentage of votes validly cast for that resolution.

3.    A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against".

4.    The number of shares in issue on 13 July 2023 was 73,597,548 with no shares in treasury.

5.    The full text of the resolutions passed at the AGM can be found in the Notice of Annual General Meeting which is available on the Company's website at www.ctautomotive.net.

For further information please contact:

CT Automotive Simon Phillips, Executive Chairman Anna Brown, Chief Financial Officer	via MHP
Liberum (Nominated Adviser and Broker) Richard Lindley Benjamin Cryer	Tel: [phone]
MHP (Financial PR) Tim Rowntree Charlie Baker Veronica Farah [e-mail]	Tel: [phone]

Notes to editors

CT Automotive is engaged in the design, development and manufacture of bespoke automotive interior finishes (for example dashboard panels and fascia finishes) and kinematic assemblies (for example air registers, arm rests, deployable cup holders and storage systems), as well as their associated tooling, for the world's leading automotive original equipment suppliers ("OEMs") and global Tier One manufacturers.

The Group is headquartered in the UK with a low-cost manufacturing footprint. Key production facilities are located in Shenzhen and Ganzhou, China complemented by additional manufacturing facilities in Turkey, Mexico and the Czech Republic.

CT Automotive's operating model enables it to pursue a price leadership strategy, supplying high quality parts to customers at a lower overall landed cost than competitors. This has helped the Group build a high-quality roster of OEM end customers, both directly and via Tier One suppliers including Faurecia and Marelli. End customers include volume manufacturers, such as Nissan, and luxury car brands such as Bentley and Lamborghini. In addition, the Group supplies electric car manufacturers, including Lucid. It has also recently started working with e.Go Mobile, a German manufacturer which plans to launch a series of small electric vehicles for the budget end of the market.

The Group currently supplies component part types to over 47 different models for 19 OEMs. Since its formation, the Group has been the only significant new entrant into the market, which is characterised by high barriers to entry.

 

END