British Smaller Co's - Result of AGM
16/09/2022 11:42
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RNS Number : 7910Z British Smaller Companies VCT PLC 16 September 2022
BRITISH SMALLER COMPANIES VCT PLC
RESULT OF ANNUAL GENERAL MEETING
British Smaller Companies VCT plc (the "Company") announces that at the Annual
General Meeting of the Company held on 16 September 2022 the following
resolutions proposed at the meeting ("Resolutions") were duly passed on a show
of hands.
In accordance with the Company's obligations under Listing Rule 9.6.2, copies
of the Resolutions passed at the Annual General Meeting have been submitted to
the National Storage Mechanism and will shortly be available for viewing at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism)
Ordinary resolutions
(1) That the annual report and accounts for the year ended
31 March 2022 be received.
(2) That the Directors' Remuneration Report for the year ended 31
March 2022 be approved other than the part of such report containing the
Directors' Remuneration Policy.
(3) That Mr A C N Bastin be re-elected as a director.
(4) That Mr J H Cartwright be re-elected as a director.
(5) That Mr R Cook be re-elected as a director.
(6) That Ms P Sapre be elected as a director.
(7) That BDO LLP be re-appointed as auditor to the Company to hold
office until the conclusion of the next general meeting at which accounts are
laid before the Company and that the directors be authorised to fix their
remuneration.
(8) That the directors be and are hereby generally and
unconditionally authorised in accordance with Section 551 of the Companies Act
2006 (the "Act") to exercise all the powers of the Company to allot shares in
the Company or to grant rights to subscribe for or to convert any security
into shares in the Company up to an aggregate nominal amount of £8,000,000,
during the period commencing on the passing of this Resolution and expiring on
the later of 15 months from the passing of this Resolution or the next Annual
General Meeting of the Company (unless previously revoked, varied or extended
by the Company in general meeting), but so that this authority shall allow the
Company to make before the expiry of this authority offers or agreements which
would or might require shares in the Company to be allotted, or rights to
subscribe for or to convert any security into shares to be granted, after such
expiry and that all previous authorities given to the directors be and they
are hereby revoked, provided that such revocation shall not have retrospective
effect.
Special Resolutions
(9) That the directors be and are hereby empowered in accordance
with Section 570(1) of the Act during the period commencing on the passing of
this Resolution and expiring at the conclusion of the Company's next Annual
General Meeting, or on the expiry of 15 months following the passing of this
Resolution, whichever is the later, (unless previously revoked, varied or
extended by the Company in general meeting), to allot equity securities (as
defined in Section 560 of the Act) for cash pursuant to the general authority
conferred upon the directors in Resolution 8 above as if Section 561 of the
Act did not apply to any such allotment provided that this power is limited to
the allotment of equity securities in connection with the allotment for cash
of equity securities up to an aggregate nominal amount of £8,000,000, but so
that this authority shall allow the Company to make offers or agreements
before the expiry and the directors may allot securities in pursuance of such
offers or agreements as if the powers conferred hereby had not so expired.
This power applies in relation to a sale of shares which is an allotment of
equity securities by virtue of Section 560(3) of the Act (treasury shares) as
if in the first paragraph of this Resolution the words "pursuant to the
general authority conferred upon the directors in Resolution 8 above" were
omitted.
(10) That, subject to the sanction of the High Court, the amount
standing to the credit of the share premium account of the Company at the date
an order is made confirming such cancellation by the Court, be and hereby is
cancelled, and the amount by which the share capital is so reduced be credited
to a reserve of the Company.
Proxy votes received were:
% % Against Shares Withheld
Resolution For
Ordinary Resolutions
1. To receive the annual report and accounts 99.86 0.14 4,261
2. To approve the Directors' Remuneration Report 95.62 4.38 292,264
3. To re-elect Mr A C N Bastin as a director 99.34 0.66 65,920
4. To re-elect Mr J H Cartwright as a director 98.76 1.24 670,330
5. To re-elect Mr R Cook as a director 99.65 0.35 56,163
6. To elect Ms P Sapre as a director 98.50 1.50 59,163
7. To re-appoint BDO LLP as auditor 98.33 1.67 220,309
8. To authorise the directors to allot shares 97.87 2.13 138,819
% % Shares Withheld
For Against
Special Resolutions
9. To waive pre-emption rights in respect of the allotment of shares 93.03 6.97 109,266
10. To cancel the Company's share premium account 99.43 0.57 51,504
16 September 2022
For further information, please contact:
David Hall YFM Private
Equity Limited Tel: 0113 244
1000
Alex Collins Panmure Gordon
(UK) Limited Tel: 0207 886 2767
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