PRAETURA GROWTH VCT PLC
(the "Company")
Result of Annual General Meeting
LEI: 9845004ZDC57AB064B97
Praetura Growth VCT plc, announces that at the Company's first Annual General Meeting held at 2:00pm on Tuesday 23 July 2024, all resolutions were duly unanimously passed on a show of hands.
Resolutions 1 to 7 (inclusive) were proposed as ordinary resolutions and resolutions 8 to 10 (inclusive) were proposed as special resolutions.
Ordinary Resolutions
1. To receive and adopt the Directors' Report and Financial Statements of the Company for the period ended 31 January 2024.
2. To appoint Macintyre Hudson 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 2025 at which financial statements are laid before the Company.
3. To authorise the Directors to fix the remuneration of the Auditor.
4. To re-elect Sam McArthur as a Director.
5. To re-elect Paul Jefferson as a Director.
6. To re-elect Elizabeth Scott as a Director.
7. That the Directors be and are hereby, generally and unconditionally, authorised under Section 551 of the Act to exercise all the powers of the Company to allot Ordinary Shares, or grant rights to subscribe for or convert any security into Ordinary Shares, up to an aggregate nominal amount of £200,000 provided that this authority shall expire at the conclusion of the next AGM of the Company or on the expiry of 15 months from the passing of this resolution, whichever is the first to occur (unless previously revoked, varied or extended by the Company in general meeting), and provided that the Company may before such expiry, make an offer or agreement that would or might require relevant securities to be allotted after such expiry and the Directors may allot relevant securities in pursuance of such offer or agreements as if the authority conferred had not expired.
Special Resolutions
8. That, subject to the passing of Resolution 7, the Directors be and hereby are empowered, under Section 570(1) of the Act to allot equity securities (as defined in section 560 of the Act) under the authority conferred by Resolution 7 for cash as if section 561(1) of the Act did not apply, provided that this power shall be limited to the allotment of equity securities up to an aggregate nominal amount of £200,000 representing approximately 583% of the issued share capital of the Company as at 25 June 2024, being the latest practical date prior to publication of this document; and shall expire at the conclusion of the next AGM of the Company or on the expiry of 15 months from the passing of this resolution, whichever is the first to occur (unless previously revoked, varied or extended by the Company in general meeting), save that the Company may, before such expiry, make an offer or agreement that would or might require equity securities to be allotted after such expiry and the Directors may allot equity securities in pursuance of such offer or agreement as if the power conferred hereby had not expired.
9. That, the Company be and is hereby authorised in accordance with section 107 of the Act to make one or more market purchases (within the meaning of section 693(4) of the Act) of Ordinary Shares provided that: (i) the maximum aggregate number of Ordinary Shares authorised to be purchased shall not exceed 513,805 Ordinary Shares (representing approximately 14.99% of the issued Ordinary Shares at 25 June 8 2024, being the latest practical date prior to publication of this document); (ii) the minimum price which may be paid for an Ordinary Share is their nominal value; (iii) the maximum price which may be paid for an Ordinary Share, exclusive of expenses, is an amount equal to the higher of (a) 105% of the average of the middle market quotations of an Ordinary Share in the Company as derived from 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 (b) the amount stipulated by Article 5(6) of the UK Market Abuse Regulation; (iv) the authority hereby conferred shall expire at the conclusion of the next AGM of the Company or on the expiry of 15 months from the whichever is the first to occur (unless previously revoked, varied or extended by the Company in general meeting), save that the Company may, before such expiry, enter into a contract to purchase Ordinary Shares which may be executed wholly or partly after the expire of such authority.
10. That a general meeting, other than an annual general meeting, may be called on not less than 14 days' clear notice.
In accordance with Listing Rule 9.6.2 copies of all the resolutions passed, other than ordinary business, will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
For further information, please contact:
Sam McArthur
Praetura Ventures Limited (Investment Manager)
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