Result of Meeting
The Board of Oxford Technology VCT Plc (OT1) is pleased to
announce that the resolution to approve the OT1 Scheme proposed at
the First General Meeting held today, 20 June 2022, was duly passed
on a show of hands.
The Board of OT1 notes that the
shareholders of each of Oxford Technology 3 VCT Plc (OT3) and
Oxford Technology 4 VCT Plc (OT4) have also approved the
resolutions to enable the merger of their companies with OT2, and
shareholders of OT2 have now passed all the resolutions to enable
the issue of Consideration Shares and Leisure Shares, as set out in
the Circular dated 18 May 2022. Provided shareholders of OT1 also
approve the placing of OT1 into Members Voluntary Liquidation at
the Second General Meeting on 30 June 2022, it is expected that the
Merger of OT1 and OT2 will complete on the same day, at which time
the assets and liabilities of OT1 will be transferred to OT2 in
exchange for New OT1 Consideration Shares. Provided the OT3 and OT4
shareholders also approve the placing of their companies into
Members Voluntary Liquidation at the Second General Meetings of
their companies on 30 June 2022, it Is expected that the full
Merger will complete on the same day. Admission of and dealings in
Consideration Shares is expected to be 1 July 2022 when OT2 will
have four separate share classes, the Ordinary Shares representing
the pool of assets linked to the existing OT2 share pool, and 3 new
share pools incorporating the assets and liabilities transferred
from OT1, OT3 and OT4. A further announcement will be made at
that time.
Proxy votes were received in respect
of 2,385,379 Ordinary Shares, representing 43.9% of the issued
share capital as at 16 June 2022.
The following table shows the proxy
votes cast for the resolution:
| |
For |
Against |
%age of Issued share capital |
Abstain |
| |
Votes |
% |
Votes |
% |
voted |
|
| SPECIAL
RESOLUTION |
|
|
|
|
|
|
| 1 To approve the
OT1 Scheme |
2,354,379 |
98.7% |
31,000 |
1.3% |
43.9% |
0 |
The full text of the resolutions
passed at the General Meeting can be found in the OT1 Circular
which is available on the Company's website at
https://www.oxfordtechnologyvct.com/
1. A withheld vote is not a vote in
law and, accordingly, is not counted in the calculation of the
proportion of votes "For" and "Against" the resolution
concerned.
2. Any proxy appointments which gave
discretion to the Chairman have been included in the vote "For"
total.
3. The number of shares in issue (and
total voting rights) at close of business on 16 June 2022 was
5,431,655 ordinary shares, carrying one vote each. Therefore, the
total voting rights in the Company are 5,431,655.
1. A withheld vote is not a
vote in law and, accordingly, is not counted in the calculation of
the proportion of votes "For" and "Against" the resolution
concerned.
2. Any proxy appointments which gave
discretion to the Chairman have been included in the vote "For"
total.
A copy of the resolution passed at
the General Meeting will be submitted to the National Storage
Mechanism in accordance with Listing Rules 9.6.2R and 9.6.3R, and
will be available in due course for inspection
at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
This announcement contains inside
information as stipulated under the UK version of the Market Abuse
Regulation No 596/2014 which is part of English Law by virtue of
the European (Withdrawal) Act 2018, as amended. Upon the
publication of this announcement via a Regulatory Information
Service, this information is now considered to be in the public
domain.
Enquiries: Lucius Cary Oxford
Technology Management 01865 784466
LEI: 213800HI61VDMTDOAX43
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