British Smaller Companies VCT2 Plc AGM Statement (7636E)
May 10 2017 - 9:57AM
UK Regulatory
TIDMBSC
RNS Number : 7636E
British Smaller Companies VCT2 Plc
10 May 2017
BRITISH SMALLER COMPANIES VCT2 PLC
RESULT OF ANNUAL GENERAL MEETING
British Smaller Companies VCT2 plc (the "Company") announces
that at the Annual General Meeting of the Company held on 10 May
2017 the following resolutions proposed at the meeting
("Resolutions") were duly passed.
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
www.hemscott.com/nsm.do.
Ordinary Resolutions
(1) That the annual report and accounts for the year ended 31 December 2016 be received.
(2) That the final dividend of 1.5 pence per ordinary share for
the year ended 31 December 2016 be approved.
(3) That the Directors' Remuneration Report for the year ended
31 December 2016 be approved other than the part of such report
containing the Directors' Remuneration Policy.
(4) That the Directors' Remuneration Policy contained in the
Directors' Remuneration Report for the year ended 31 December 2016
be approved.
(5) That Mr P C Waller be re-elected as a director.
(6) That Mr R M Pettigrew be re-elected as a director.
(7) That Mr R Last be re-elected as a director.
(8) That BDO LLP be 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.
(9) 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 GBP4,000,000, 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
(10) 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
9 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
GBP4,000,000, 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 as if in the
first paragraph of this Resolution the words "pursuant to the
general authority conferred upon the directors in Resolution 9
above" were omitted.
(11) That, the Articles of Association of the Company be amended
to increase the limit on the aggregate remuneration of the
non-executive directors from GBP75,000 to GBP100,000 per annum by
replacing the figure of "GBP75,000" appearing in Article 128 with
"GBP100,000".
(12) That, subject to the sanction of the High Court, the amount
standing to the credit of the share premium account of the Company
as at the date of the final hearing before the Court at which
confirmation of said cancellation is sought, be cancelled.
Proxy votes received were:
% % Against Shares
Resolution For Withheld
------------------------------------------- --------- ---------- ----------
Ordinary Resolutions
------------------------------------------- --------- ---------- ----------
To receive the annual report
1. and accounts 100.00% nil 14,636
---- ------------------------------------- --------- ---------- ----------
To approve a final dividend
of 1.5 pence per ordinary
2. share 97.58% 2.42% 16,474
---- ------------------------------------- --------- ---------- ----------
To approve the Directors'
3. Remuneration Report 95.37% 4.63% 140,204
---- ------------------------------------- --------- ---------- ----------
To approve the Directors'
4. Remuneration Policy 94.40% 5.60% 78,391
---- ------------------------------------- --------- ---------- ----------
To re-elect Mr P C Waller
5. as a director 99.14% 0.86% 155,481
---- ------------------------------------- --------- ---------- ----------
To re-elect Mr R M Pettigrew
6. as a director 97.96% 2.04% 170,576
---- ------------------------------------- --------- ---------- ----------
To re-elect Mr R Last as a
7. director 96.81% 3.19% 60,872
---- ------------------------------------- --------- ---------- ----------
8. To appoint BDO LLP as auditor 98.54% 1.46% 38,909
---- ------------------------------------- --------- ---------- ----------
To authorise the directors
9. to allot shares 98.85% 1.15% 3,965
---- ------------------------------------- --------- ---------- ----------
Special Resolutions
------------------------------------------- --------- ---------- ----------
To waive pre-emption rights
in respect of the allotment
10. of shares 92.89% 7.11% 64,275
---- ------------------------------------- --------- ---------- ----------
To amend the Articles of Association
of the Company to increase
the limit on the aggregate
remuneration of the non-executive
directors from GBP75,000 to
11. GBP100,000 per annum 78.06% 21.94% 500,396
---- ------------------------------------- --------- ---------- ----------
To cancel, subject to the
sanction of the High Court,
12. the share premium account 98.92% 1.08% 86,421
---- ------------------------------------- --------- ---------- ----------
10 May 2017
For further information, please contact:
David Hall YFM Private Equity Limited Tel: 0113 244 1000
Jonathan Becher Panmure Gordon (UK) Limited Tel: 0207 866 2715
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMOKKDPNBKDPPD
(END) Dow Jones Newswires
May 10, 2017 09:57 ET (13:57 GMT)
British Smaller Companie... (LSE:BSC)
Historical Stock Chart
From Apr 2024 to May 2024
British Smaller Companie... (LSE:BSC)
Historical Stock Chart
From May 2023 to May 2024