AGM Statement

Plexus Holdings Plc

16 January 2026

 

16 January 2026

Plexus Holdings PLC

("Plexus", the "Company" or the "Group")

AGM Statement

Plexus Holdings PLC (AIM: POS), the AIM quoted wellhead services business, will hold its Annual General Meeting ('AGM') today. At the AGM, CEO Craig Hendrie will make the following statement on behalf of Non-Executive Chair Ben Van Bilderbeek:

"The past year has been one of rebuilding and repositioning for Plexus. While our reported results reflect a deliberate investment phase following an exceptional prior year, we made solid operational progress, strengthened the balance sheet and continued to invest in the long-term capability of the business. In particular, we focused on expanding our rental wellhead inventory, which sits at the heart of our short-term growth strategy.

"Looking ahead, our focus remains on disciplined execution. During 2026, we expect to have 16 Exact rental wellhead systems available for deployment, creating a larger, high quality asset base. This inventory is intended to support repeat utilisation across multiple projects and geographies and provide more predictable and resilient revenue streams.

"We are cautiously encouraged by the outlook across our key markets. Rental operations are expected to commence imminently in the Middle East, where we now have a permanent presence, and North America during 2026, alongside further opportunities in the North Sea. Notably, our technology is particularly well suited to jack-up drilling, decommissioning and CCS applications, where activity levels are forecast to improve.

"Beyond the rental fleet, Plexus has a strong and differentiated suite of intellectual property that is ready for deployment. This includes further applications of POS-GRIP Technology, such as the Python subsea wellhead system, which will provide significant value over time both in rental and production applications

"Taken together, these developments provide a solid platform for the next phase of the Group's development. This confidence is shared at Board level, as evidenced by several board members including myself taking part in the March 2025 fundraise and my £2 million loan to the Company towards the end of the year, which underlines our strong belief in Plexus' strategy.

"With an expanded rental fleet, multiple market drivers across key geographies, and a continued focus on cost control and delivery, the Board remains confident that Plexus is well positioned to build sustainable value for shareholders over the medium term."

ENDS

For further information please visit www.plexusplc.com or contact:

Plexus Holdings PLC   Craig Hendrie, CEO Mike Park, CFO	Tel: [phone]
Cavendish Capital Markets Limited Derrick Lee	Tel: [phone]
St Brides Partners Ltd Isabel de Salis Paul Dulieu Will Turner	[e-mail]

NOTES

Plexus Holdings plc (AIM: POS) (www.plexusplc.com) is an Aberdeen-headquartered specialist in innovative wellhead systems and related products for offshore operations. Renowned for its POS-GRIP® and HG® metal-to-metal sealing technologies, Plexus delivers solutions that reduce operational risk, prevent blowouts, cut methane emissions and lower maintenance costs, supporting the oil and gas industry's ESG and Net Zero objectives. The Company focuses on jack-up rig applications across exploration, appraisal and plug and abandonment, as well as emerging markets including carbon capture and storage, hydrogen and geothermal, working with major partners including SLB and TechnipFMC.

 

END