Maven Income and Growth VCT 3 PLC Result of General Meeting (7206P)
October 20 2021 - 11:46AM
UK Regulatory
TIDMMIG3
RNS Number : 7206P
Maven Income and Growth VCT 3 PLC
20 October 2021
Maven Income and Growth VCT 3 PLC (the Company)
Result of General Meeting - 20 October 2021
This Announcement is made by the Company in connection with the
offer for subscription (Offer) of new ordinary shares of 10p each
in the capital of the Company (New Shares).
The Board is pleased to announce that, at the General Meeting of
the Company held on 20 October 2021, the resolutions proposed, as
set out in the Notice of General Meeting in the Circular to
Shareholders dated 20 September 2021, were duly passed on a poll as
follows:
Resolution 1 - to authorise the Directors to allot New
Shares;
Resolution 2 - to approve the IMA Deed of Variation;
Resolution 3 - to authorise the disapplication of pre-emption
rights;
Resolution 4 - to approve the cancellation of the share premium
account; and
Resolution 5 - to approve the cancellation of the capital
redemption reserve.
At the record date for the General Meeting, being 18 October
2021, the total number of voting rights in the Company stood at
79,151,967 and the total number of ordinary shares in issue was
79,151,967.
The Company advises that, for the General Meeting, valid proxy
appointments were made in respect of
4,338,028 ordinary shares and that the number of proxy votes
lodged for each Resolution were as follows:
Resolution For Discretion Against Withheld Total
1 3,732,586 171,875 433,567 0 4,338,028
----------- ----------- -------- ---------- ----------
2* 2,092,351 178,348 649,333 1,417,996 4,338,028
----------- ----------- -------- ---------- ----------
3 3,684,329 171,875 471,524 10,300 4,338,028
----------- ----------- -------- ---------- ----------
4 4,113,462 171,875 23,279 29,412 4,338,028
----------- ----------- -------- ---------- ----------
5 4,111,802 171,875 24,939 29,412 4,338,028
----------- ----------- -------- ---------- ----------
A vote withheld is not a vote in law and any such votes have not
been included in the votes for or against the respective
Resolutions.
*The Board acknowledges that a small number of significant
Shareholders have voted against Resolution 2 but would emphasise
that, as stated in the Circular dated 20 September 2021, the
Directors believe that it is in the best interests of the Company
to remove the cap on any performance fee payable to Maven Capital
Partners UK LLP (Maven) as it will incentivise and reward Maven
appropriately when an exceptional return is achieved, and only when
the Shareholders of the Company have also derived a significant
benefit. The removal of this cap will also align the Company with
the approach taken by the VCT sector in general, where such
incentive payments are not subject to a monetary limit.
Passing of Resolutions
A copy of the Resolutions passed at the General Meeting held on
20 October 2021 have been submitted to the National Storage
Mechanism and will shortly be available for inspection at:
https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism
Issued on behalf of the Board
Maven Capital Partners UK LLP
Secretary
20 October 2021
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END
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