POS.GB Plexus

TIDMPOS

RNS Number : 8402X

Plexus Holdings Plc

27 December 2023

Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

27 December 2023

Plexus Holdings PLC

('Plexus' or 'the Company')

Result of AGM

Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP(R) friction-grip method of wellhead engineering known for its safety, time, and cost-saving capabilities, is pleased to announce that each of the resolutions proposed at the Annual General Meeting ("AGM") on 22 December 2023 were duly passed. Further details of the resolutions approved at the AGM are set out in the notice of meeting, which is available on the Company's website www.plexusplc.com .

**ENDS**

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

 
 Plexus Holdings PLC                 Tel: 020 7795 6890 
  Ben van Bilderbeek, CEO 
  Graham Stevens, CFO 
 Cavendish Capital Markets Limited   Tel: 0131 220 6939 
  Derrick Lee 
  Adam Rae 
                                    ------------------------------ 
 St Brides Partners Ltd              plexus@stbridespartners.co.uk 
  Isabel de Salis 
  Ana Ribeiro 
                                    ------------------------------ 
 

NOTES

Plexus Holdings plc (AIM: POS)

Plexus is an IP led company focussed on establishing its patented leak-proof POS-GRIP(R) wellhead and associated equipment as the go-to technology for energy markets whilst making a genuine contribution to the oil and gas industry's ESG and NetZero goals by championing "through the BOP" (Blow-out Preventer) designs, and lifetime leak-proof HG(R) metal-to-metal sealing systems. Having protected the environment for many years through these technological innovations, the Company was awarded the London Stock Exchange's Green Economy Mark in July 2021 and continues to place emphasis on its ability to reduce harmful methane emissions and unnecessary maintenance and intervention costs.

Headquartered in Aberdeen, the Company has provided leak-free wellhead performance in over 400 wells worldwide and worked with an array of blue-chip oil and gas company clients. As well as generating direct revenues from securing orders for surface production wellheads particularly in the UK and European North Sea regions, the Company has several licencing/collaboration agreements with major partners including FMC Technologies, which is a subsidiary of TechnipFMC and Cameron, a SLB Group company. Cameron has a non-exclusive term licence to use the POS-GRIP and HG(R) metal-to-metal seal method of wellhead engineering for the development of conventional and unconventional oil and gas surface production wellheads, and Plexus entered into a Cooperation Agreement, which enabled Plexus to return to the Jack-up Exploration (Adjustable) Wellhead rental business for 'through the BOP' jack-up applications, where Cameron will help to provide Plexus with sales leads and market insight.

Plexus' current suite of products and applications include: "HG" wellheads, which combine POS-GRIP technology with gas tight leak free metal-to-metal sealing; the Python(R) subsea wellhead, developed in a Joint Industry Project with several industry leaders; the POS-SET(TM) Connector for the de-commissioning and P&A market; and Tersus-PCT, an innovative HP/HT tie back connector product. Having proved the superior uniquely enabling qualities of POS-GRIP Technology, Plexus is now also focused on establishing its technology and equipment in other markets such as Plug and Abandonment de-commissioning, carbon capture, gas storage, hydrogen and geothermal where it can play an important role in reducing harmful methane emission risks as operators strive to deliver on ESG commitments and NetZero goals in a safe and cost-effective way.

For more information visit: https://www.plexusplc.com/

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END

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(END) Dow Jones Newswires

December 27, 2023 02:00 ET (07:00 GMT)

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