British Smaller Companies VCT PLC Result of Annual General Meeting (8561M)
August 02 2017 - 2:04AM
UK Regulatory
TIDMBSV
RNS Number : 8561M
British Smaller Companies VCT PLC
02 August 2017
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 1 August 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 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 2017 be received.
(2) That the Directors' Remuneration Report for the year ended
31 March 2017 be approved other than the part of such report
containing the Directors' Remuneration Policy.
(3) That the Directors' Remuneration Policy contained in the
Directors' Remuneration Report for the year ended 31 March 2017 be
approved.
(4) That Ms H Sinclair be re-elected as a director.
(5) That Mr C W E R Buchan 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 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
(8) 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 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 (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.
(9) 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.
(10) That in substitution for any existing authority but without
prejudice to the exercise of any such power prior to the date
hereof, the Company be generally and unconditionally authorised to
make one or more market purchases (within the meaning of Section
693(4) of the Companies Act 2006 of ordinary shares of 10 pence in
the capital of the Company provided that:
a. The maximum aggregate number of ordinary shares that may be
purchased is 16,394,140 being 14.99 per cent of the issued ordinary
shares (excluding treasury shares) as at 16 June 2017;
b. The maximum price (excluding expenses) which may be paid for
an ordinary share is an amount equal to the maximum amount
permitted to be paid in accordance with rules of the UK Listing
Authority in force as at the date of purchase;
c. The minimum price (excluding expenses) which may be paid for
an ordinary share is its nominal value;
d. This authority shall take effect from 1 August 2017 and shall
expire at the conclusion of the Company's Annual General Meeting in
2020 or on 1 August 2020, whichever is the later; and
e. The Company may make a contract or contracts to purchase
ordinary shares under this authority before the expiry of the
authority, which will or may be executed wholly or partly after the
expiry of the authority, and may make a purchase of ordinary shares
in pursuance of any such contract or contracts.
Proxy votes received were:
%
Resolution For and % Against Shares
Discretion Withheld
------------------------------------------------ ------------ ------------ -----------
Ordinary Resolutions
------------------------------------------------ ------------ ------------ -----------
1. To receive the annual report and accounts 100.00 0 0
---- ------------------------------------------ ------------ ------------ -----------
To approve the Directors' Remuneration
2. Report 94.29 5.71 166,526
---- ------------------------------------------ ------------ ------------ -----------
To approve the Directors' Remuneration
3. Policy 94.70 5.30 177,322
---- ------------------------------------------ ------------ ------------ -----------
4. To re-elect Ms H Sinclair as a director 96.74 3.26 18,517
---- ------------------------------------------ ------------ ------------ -----------
To re-elect Mr C W E R Buchan as a
5. director 97.95 2.05 24,160
---- ------------------------------------------ ------------ ------------ -----------
6. To re-appoint BDO LLP as auditor 99.01 0.99 62,325
---- ------------------------------------------ ------------ ------------ -----------
To authorise the directors to allot
7. shares 99.45 0.55 30,676
---- ------------------------------------------ ------------ ------------ -----------
Special Resolution
------------------------------------------------ ------------ ------------ -----------
To waive pre-emption rights in respect
of the allotment of shares and allow
8. treasury shares to be reissued 95.08 4.92 88,725
---- ------------------------------------------ ------------ ------------ -----------
To cancel, subject to the sanction
of the High Court, the share premium
9. account 99.00 1.00 111,116
---- ------------------------------------------ ------------ ------------ -----------
To authorise the Company to make market
10. purchases of its own shares 89.85 10.15 30,733
---- ------------------------------------------ ------------ ------------ -----------
2 August 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
RAGOKBDKOBKKNFK
(END) Dow Jones Newswires
August 02, 2017 03:04 ET (07:04 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
