British Smaller Companies VCT PLC AGM Statement (8946Z)
September 05 2018 - 9:56AM
UK Regulatory
TIDMBSV
RNS Number : 8946Z
British Smaller Companies VCT PLC
05 September 2018
BRITISH SMALLER COMPANIES VCT PLC
RESULT OF ANNUAL GENERAL MEETING
British Smaller Companies VCT plc (the "Company") announces that
at the Annual General Meeting of the Company held on 5 September
2018 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 will be 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 March 2018 be received.
(2) That the Directors' Remuneration Report for the year ended
31 March 2018 be approved other than the part of such report
containing the Directors' Remuneration Policy.
(3) That Ms H Sinclair be re-elected as a director.
(4) That Mr C W E R Buchan be re-elected as a director.
(5) That Mr R W Cook be re-elected as a director.
(6) That BDO LLP be re-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.
(7) 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 GBP5,000,000, 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.
(8) That the directors be and are hereby generally and
unconditionally authorised in accordance with section 551 of the
Act to exercise all the powers of the Company to allot shares in
the Company in connection with the dividend re-investment scheme up
to an aggregate nominal amount of GBP1,500,000 representing
approximately 14 per cent of the share capital in issue as at 26
June 2018 (excluding treasury shares) during the period commencing
on the date of this resolution and expiring on the fifth
anniversary of this resolution (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
to be allotted after such expiry and that all previous authorities
given to the directors to allot shares in connection with the
dividend reinvestment scheme be and they are hereby revoked,
provided that such revocation shall not have retrospective
effect.
Special Resolutions
(9) 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 7 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 GBP5,000,000, 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 (treasury shares) as if in the first
paragraph of this Resolution the words "pursuant to the general
authority conferred upon the directors in Resolution 7 above" were
omitted.
(10) That the directors be and are hereby empowered in
accordance with section 570 of the Act during the period commencing
on the passing of this resolution and expiring on the fifth
anniversary of this resolution (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
8 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 dividend re-investment
scheme up to an aggregate nominal amount of GBP1,500,000,
representing approximately 14 per cent of the issued share capital
of the Company as at 26 June 2018 (excluding treasury shares) but
so that this authority shall allow the Company to make offers or
agreements before the expiry and the directors may allot equity
securities in pursuance of such offers or agreements as if the
powers conferred hereby had not so expired.
Proxy votes received were:
%
Resolution For and % Against Shares
Discretion Withheld
Ordinary Resolutions
------------ ------------ -----------
1. To receive the annual report and accounts 100.00 - 5,424
-------------------------------------------- ------------ ------------ -----------
To approve the Directors' Remuneration
2. Report 95.71 4.29 183,526
-------------------------------------------- ------------ ------------ -----------
3. To re-elect Ms H Sinclair as a director 97.43 2.57 101,974
-------------------------------------------- ------------ ------------ -----------
4. To re-elect Mr C W E R Buchan as a director 98.77 1.23 99,440
-------------------------------------------- ------------ ------------ -----------
5. To re-elect Mr R W Cook as a director 98.79 1.21 66,257
-------------------------------------------- ------------ ------------ -----------
6. To re-appoint BDO LLP as auditor 98.48 1.52 119,593
-------------------------------------------- ------------ ------------ -----------
7. To authorise the directors to allot shares 98.45 1.55 5,934
-------------------------------------------- ------------ ------------ -----------
8. To authorise the directors to allot shares 99.08 0.92 34,968
pursuant to the DRIS
-------------------------------------------- ------------ ------------ -----------
Special Resolutions
------------ ------------ -----------
To waive pre-emption rights in respect
of the allotment of shares and allow
9. treasury shares to be reissued 93.05 6.95 52,232
-------------------------------------------- ------------ ------------ -----------
To waive pre-emption rights in respect
of the allotment of shares pursuant to
10. the DRIS 96.97 3.03 64,997
-------------------------------------------- ------------ ------------ -----------
5 September 2018
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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGMSSIFDIFASEIU
(END) Dow Jones Newswires
September 05, 2018 09:56 ET (13:56 GMT)
British Smaller Companie... (LSE:BSV)
Historical Stock Chart
From Apr 2024 to May 2024
British Smaller Companie... (LSE:BSV)
Historical Stock Chart
From May 2023 to May 2024