28 JULY 2023

NORTHERN 2 VCT PLC

RESULT OF ANNUAL GENERAL MEETING

Northern 2 VCT PLC (“the Company”) announces that at the Annual General Meeting held on 28 July 2023 all of the resolutions set out in the notice of the meeting were duly passed by shareholders.

The resolutions included those to re-elect as directors Mr David Gravells, Mr Simon Devonshire, Ms Cecilia McAnulty and Ms Ranjan Ramparia.

Mr Frank Neale did not stand for re-election at the AGM and has resigned as director of the Company at the conclusion of the AGM.

In accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, a copy of the resolutions proposed and passed has been submitted to the National Storage Mechanism and will also be available from: www.mercia.co.uk/vcts/n2vct/.

Details of proxy voting on the resolutions put to shareholders at the Annual General Meeting are as follows:

NumberResolutionForDiscretionaryAgainstVote Withheld
1To receive and approve the Company’s annual report and financial statements for the year ended 31 March 2023 together with the strategic report, Directors’ report and independent auditor’s report thereon11,134,772336,95750,29529,934
2To approve and declare a final dividend of 1.3p per share in respect of the year ended 31 March 202311,240,527276,74918,10716,575
3To approve the Directors’ remuneration report in respect of the year ended 31 March 2023 other than the part of such report containing the Directors’ remuneration policy10,149,396336,957732,278333,327
4To approve the Directors’ remuneration policy, as set out on page 44 of the Company’s annual report and financial statements for the year ended 31 March 202310,106,580336,957786,886321,535
5To re-elect Mr D P A Gravells as a director10,541,128353,642549,596107,592
6To re-elect Mr S P Devonshire as a director10,326,435360,986761,549102,988
7To re-elect Ms C A McAnulty as a director10,589,836360,986525,14775,989
8To re-elect Ms R K Ramparia as a director10,231,959360,986856,025102,988
9To re-appoint Mazars LLP as independent auditor10,802,358336,957260,785151,858
10To authorise the audit committee to fix the remuneration of the independent auditor10,994,974336,957184,25335,774
11To authorise the Directors to allot shares pursuant to Section 551 of the Companies Act 2006 for the purposes of the Offer10,099,758340,410727,205384,585
12To generally authorise the Directors to allot shares pursuant to Section 551 of the Companies Act 200610,413,687315,516770,09652,659
13To disapply Section 561(1) of the Companies Act 2006 in relation to allotments of equity securities for the purposes of the Offer9,308,510314,8781,246,329682,241
14To disapply Section 561(1) of the Companies Act 2006 in relation to certain other allotments of equity securities9,625,222307,4781,212,047407,211
15To authorise the Company to make market purchases of ordinary shares in accordance with Section 701 of the Companies Act 200611,011,586314,878196,86428,630
16To amend the articles of association to extend the life of the Company10,182,629339,048992,66337,618
17To approve the cancellation of the share premium account arising following the issue of Ordinary Shares pursuant to the Offer10,776,772336,875392,66945,642

Enquiries:

Sarah Williams / James Sly, Mercia Fund Management Limited - 0330 223 1430

Website: www.mercia.co.uk/vcts

The contents of the Mercia Asset Management PLC website and the contents of any website accessible from hyperlinks on the Mercia Asset Management PLC website (or any other website) are not incorporated into, nor form part of, this announcement.