REG-The Biotech Growth Trust PLC: Result of AGM

Biotech Growth TrustAnnouncement

17/07/2025 15:30

THE BIOTECH GROWTH TRUST PLC

(the "Company")

 

Results of the Annual General Meeting

 

The Board is pleased to announce that at the Annual General Meeting (AGM) of
the Company held on Thursday, 17 July 2025 all resolutions as detailed below
were duly passed by shareholders on a poll. 

 

 Resolutions                                                                                                                                                                                                                                Votes For  %      Votes Against  %      Total Votes Cast  Votes Withheld*  
 1. To receive the audited financial statements and the Report of the Directors for the year ended 31 March 2025.                                                                                                                           7,975,685  99.92  6,651          0.08   7,982,336         667,777          
 2. To approve the Directors' Remuneration Report for the year ended 31 March 2025.                                                                                                                                                         7,907,296  99.37  49,832         0.63   7,957,128         692,985          
 3. To re-elect Hamish Baillie as a Director of the Company.                                                                                                                                                                                7,938,961  99.52  38,387         0.48   7,977,348         672,765          
 4. To re-elect Geoff Hsu as a Director of the Company.                                                                                                                                                                                     5,969,910  99.29  42,878         0.71   6,012,788         2,637,325        
 5.. To re-elect Dr Nicola Shepherd as a Director of the Company.                                                                                                                                                                           7,929,461  99.36  51,295         0.64   7,980,756         669,357          
 6. To re-elect Roger Yates as a Director of the Company.                                                                                                                                                                                   7,937,295  99.50  40,053         0.50   7,977,348         672,765          
 7. To elect Julie Tankard as a Director of the Company.                                                                                                                                                                                    7,932,765  99.40  47,991         0.60   7,980,756         669,357          
 8. To re-appoint BDO LLP as auditor and to authorise the Audit Committee to determine their remuneration.                                                                                                                                  6,884,315  99.71  20,273         0.29   6,904,588         1,745,525        
 9. To authorise the Directors to allot securities in the Company.                                                                                                                                                                          7,940,791  99.47  42,610         0.53   7,983,401         666,712          
 10#. To disapply the rights of pre-emption in relation to the allotment of securities.                                                                                                                                                     7,923,509  99.29  56,443         0.71   7,979,952         670,161          
 11#. To authorise the Company to make market purchases of Ordinary shares in the Company.                                                                                                                                                  7,969,302  99.86  11,324         0.14   7,980,626         669,487          
 12#. (Subject to court approval) to reduce the share capital of the Company by cancelling the entire amount standing to the credit of the share premium account and the capital redemption reserve to create a new distributable reserve.  7,968,939  99.83  13,582         0.17   7,982,521         667,592          
 13#. To authorise the Directors to hold General Meetings (excluding AGMs) on not less than 14 clear days' notice.                                                                                                                          7,935,239  99.55  35,629         0.45   7,970,868         679,245          
 14. That the Company should continue as an investment trust for a further period of five years.                                                                                                                                            6,624,050  76.68  2,014,787      23.32  8,638,837         11,276           

 

# designates a Special Resolution

* Please note that a `vote withheld' is not a vote in law and is not counted
in the calculation of the proportion of votes `For' and `Against' a
resolution.

 

Any proxy votes which are at the discretion of the Chair have been included in
the "For" total.

 

At 6.30pm on 15 July 2025 the total number of Ordinary shares of 25p each in
issue and the total number of voting rights was 25,368,360.

 

The voting figures will shortly be made available on the Company's website at
www.biotechgt.com

   

In accordance with UK Listing Rules 6.4.2 and 6.4.3, the full text of the
resolutions passed has been submitted to the National Storage Mechanism and
will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism. In addition,
resolutions 9 to 13 will be filed at Companies House.

 

Statement from the Board

All resolutions proposed at the AGM were duly passed. The majority received
votes in favour exceeding 99%, while Resolution 14, approving the continuation
of the Company as an investment trust for a further five years, secured 77%
support.

 

In accordance with Provision 4 of the UK and AIC Corporate Governance Codes,
when 20% or more of votes are cast against the board recommendation for a
resolution, the Company is required to explain what actions it intends to take
to consult shareholders in order to understand the reasons behind the result.

 

Ahead of the Annual General Meeting, the Board proactively engaged with major
shareholders and was encouraged to learn that the majority expressed support
for the Company's continuation. The Board was recently made aware of concerns
raised by a dissenting shareholder.  The Board will engage further with them
and remains committed to constructive dialogue with all shareholders. Further
updates will be shared in due course.

 

17 July 2025

 

For further information please contact:

 

 Katherine Manson  Frostrow Capital LLP - Company Secretary  020 3709 8734  

 



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