New Century AIM VCT plc

Result of 2021 Annual General Meeting

New Century AIM VCT plc announces that at the Annual General Meeting (AGM) held today at 12.00pm, Resolutions 1 to 5 and 9 as set out in the Notice of the AGM dated 25 June 2021 were passed, while Resolutions 6 to 8 were not passed. The number of votes for and against each of the resolutions, and the number of votes withheld, were as follows:

 

 

FOR

AGAINST

WITHHELD

Resolution

 

Votes cast

%

Votes cast

%

Votes cast

Ordinary Business

1

To receive, consider and adopt the financial statements for the period ended 28 February 2021

5,496,136

100.00%

0

0.00%

33,750

2

To declare a final dividend of 6.5 pence

5,529,886

100.00%

0

0.00%

0

3

To approve the Directors' Remuneration Report

5,496,136

100.00%

0

0.00%

33,750

4

To re-elect Geoff Gamble as a director

5,492,517

100.00%

0

0.00%

37,369

5

To re-appoint UHY Hacker Young LLP as auditors of the company and to authorise the directors to agree their remuneration

5,529,886

100.00%

0

0.00%

0

Special Business

6

To continue in being as a venture capital trust

1,642,251

29.70%

3,887,635

70.30%

0

7

To authorise the directors to allot relevant securities

1,787,739

32.53%

3,708,397

67.47%

33,750

8

To disapply Section 561 of the Companies Act 2006**

2,374,393

43.23%

3,118,124

56.77%

37,369

9

To authorise the directors to make market purchases of its own shares by utilising distributable reserves of the company**

5,496,136

99.39%

33,750

0.61%

0

** denotes a special resolution

The number of ordinary shares in issue as at the date of the 2021 Annual General Meeting is 7,860,937.

As Resolution 6 was not passed by the requisite majority, the Board will, as required by the Company’s articles of association, convene an extraordinary general meeting within 4 months of the AGM to consider resolutions on the future of the Company.

26 August 2021

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