REG - Fuel Ventures VCT - Result of AGM

Fuel Ventures VCTAnnouncement

15/09/2025 12:45

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RNS Number : 3745Z  Fuel Ventures VCT PLC  15 September 2025

Fuel Ventures VCT plc (the "Company")

Results of the Annual General Meeting

 

At the Annual General Meeting of the Company held at noon on Monday 15
September 2025, the following resolutions were duly passed on a show of hands.

 

Ordinary Resolutions

 

1.         To receive the Directors' Report and Financial Statements of
the Company for the period ended 31

            March 2025 together with the Independent Auditor's
Report thereon.

 

2.         To receive and approve the Directors' Remuneration Policy
contained in the Director's Remuneration

            Report for the period ended 31 March 2025.

 

3.         To receive and approve the Directors' Remuneration Report for
the period ended 31 March 2025 other

            than the part of such report containing the Directors'
Remuneration Policy.

 

4.         To appoint BDO LLP as auditor of the Company from the
conclusion of the AGM until the

             conclusion of the next AGM of the Company to be held
in 2026 at which financial statements are laid

             before the Company.

 

5.         To authorise the directors to fix the remuneration of the
auditor.

 

6.         To elect Andrew Whitehouse as a director of the Company in
accordance with the Articles of

             Association.

 

7.         To elect Charles Elliott as a director of the Company in
accordance with the Articles of Association.

 

8.         To elect Marc Rubinstein as a director of the Company in
accordance with the Articles of Association.

 

9.         To elect Stuart Knight as a director of the Company in
accordance with the Articles of Association.

 

10.        That, the directors be and hereby are generally and
unconditionally authorised in accordance with

             Section 551 of the Companies Act 2006, as amended,
(the "Act") to exercise all of 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
value of £350,000, representing approximately

             313% of the issued share capital of the Company as at
26 June 2025, being the latest practical date prior

             to publication of this document, provided that the
authority conferred by this resolution 10 shall expire

             at the conclusion of the Company's next Annual
General Meeting or on the expiry of fifteen months

             following the passing of this resolution 10,
whichever is the later (unless previously renewed, varied or

             revoked by the Company in general meeting).

 

Special Resolutions

 

11.        That, the Directors be and hereby are empowered pursuant to
Section 570(1) of the Act to allot or make

             offers or agreements to allot equity securities
(which expression shall have the meaning ascribed to it in

             Section 560(1) of the Act) for cash pursuant to the
authority given in accordance with Section 551 of the

             Act by resolution 10 above as if Section 561 of the
Act did not apply to such allotments, provided that

             the power provided by this resolution 11 shall expire
at the conclusion of the Company's next annual

             general meeting or on the expiry of fifteen months
following the passing of this resolution 11,

             whichever is the later (unless previously renewed,
varied or revoked by the Company in general

             meeting).

 

12.        That, the Company be and is hereby authorised to make one or
more market purchases (within the meaning of section 693(4) of the Act) of
Ordinary shares provided that:

 

12.1   the maximum aggregate number of Ordinary shares authorised to be
purchased is an

          amount equal to 14.99% of the issued Ordinary shares;

 

12.2   the minimum price which may be paid for an Ordinary share is their
nominal value;

 

12.3   the maximum price which may be paid for an Ordinary share, exclusive
of expenses, is an

          amount equal to the higher of (i) 105% of the average of
the middle market prices shown in the

          quotations for an Ordinary share in the Daily Official List
of the London Stock Exchange for the

          five Business Days immediately preceding the day on which
that Ordinary share is purchased;

          and (ii) the amount stipulated by Article 5(6) of Market
Abuse Regulation; and

 

12.4   unless renewed, the authority hereby conferred shall expire either at
the conclusion of

          the annual general meeting of the Company following the
passing of this Resolution 12

          or on the expiry of fifteen months from the passing of this
Resolution 12, whichever is

          the later, save that the Company may, prior to such expiry,
enter into a contract to

          purchase Ordinary shares which will or may be completed or
executed wholly or partly

          after such expiry.

 

 

Proxy votes received were:

 

      Resolution                                                                      For & Discretionary, %            Against,  Withheld,

                                                                                                                        %         %
      Ordinary Resolutions
 1.   To receive the Directors' Report and Financial Statements and Auditor's Report

                                                                                                   100.00               0.00      0.00
 2.   To approve the Directors' Remuneration Policy                                                100.00               0.00      0.00
 3.   To approve the Directors' Remuneration Report                                   100.00                            0.00      0.00
 4.   To appoint BDO LLP as auditor                                                   99.26                             0.74      0.00
 5.   To authorise the directors to fix the Auditor's remuneration                    100.00                            0.00      0.00
 6.   To elect Andrew Whitehouse as a director of the Company                         100.00                            0.00      0.00
 7.   To elect Charles Elliott as a director of the Company                           100.00                            0.00      0.00
 8.   To elect Marc Rubinstein as a director of the Company                           100.00                            0.00      0.00
 9.   To elect Stuart Knight as a director of the Company                             100.00                            0.00      0.00
 10.  To authorise the Directors to allot shares                                      100.00                            0.00      0.00

      Special Resolutions
 11.  To waive pre-emption rights in respect of the allotment of shares               100.00                            0.00      0.00
 12.  To authorise the Company to make market purchases of its own shares

                                                                                      97.78                             2.22                0.00

 

 

For further information, please contact:

Stan Williams

Fuel Ventures VCT plc

stan@fuel.ventures (mailto:stan@fuel.ventures)

 

Robin Smeaton

The City Partnership (UK) Limited (Company Secretary)

enquiries@city.uk.com (mailto:enquiries@city.uk.com)

 

Keith Lassman

Howard Kennedy Corporate Services LLP

Keith.Lassman@howardkennedy.com (mailto:Keith.Lassman@howardkennedy.com)

 

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