Merger Update and Results of General Meetings

MERGER UPDATE AND RESULTS OF GENERAL MEETINGS

Albion Enterprise VCT PLC (AAEV)                       (LEI: 213800OVSRDHRJBMO720)

Albion Development VCT PLC (AADV)                  (LEI: 213800FDDMBD9QLHLB38)

Albion Technology & General VCT PLC (AATG)   (LEI: 213800TKJUY376H3KN16)

Albion KAY VCT PLC (KAY)                                    (LEI:213800DK8H27QY3J5R45)

Albion Crown VCT PLC (CRWN)                            (LEI: 213800SYIQPA3L3T1Q68)

Albion Venture Capital Trust PLC (AAVC)            (LEI: 213800JKELS32V2OK421)

(together the Companies and each a Company)

11 December 2024

On 12 November 2024, the Companies issued a joint circular (Circular) setting out proposals for, amongst other things, merging the six Companies into three (Mergers), offers for subscription by AAEV, AATG and CRWN (as the proposed acquiring Companies), revised fee arrangements that would apply to each of AAEV's and CRWN's management agreements with its investment manager, Albion Capital Group LLP (Manager), and notices for general meetings of the Companies to be convened on 11 December 2024 and 19 December 2024 in connection therewith (General Meetings and each a General Meeting). Set out below are the results of the General Meetings of the Companies held today (11 December 2024).

​AAEV

Resolution

 For Against Withheld
Number Percentage Number Percentage Number
1. 10,256,869 97.57% 255,854 2.43% 0
2. 10,165,690 97.04% 310,586 2.96% 36,447
3. 10,297,112 98.38% 169,427 1.62% 46,184
4. 9,538,457 97.44% 250,539 2.56% 723,727

AAEV is pleased to announce that all the resolutions proposed at its General Meeting were duly passed by way of a poll, and the table below shows the result of the votes cast on each resolution.


Any proxy appointments which gave discretion to the Chair have been included in the vote "For" total.

A copy of the resolutions passed at the AAEV General Meeting will shortly be available for inspection on both AAEV's webpage on the Manager's website (www.albion.capital) as well as at the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism).

​AADV

AADV is pleased to announce that the resolution proposed at its General Meeting was duly passed by way of a poll, and the table below shows the result of the votes cast on the resolution.

Resolution

 For Against Withheld
Number Percentage Number Percentage Number
1. 12,555,787 98.33% 213,826 1.67% 38,395

Any proxy appointments which gave discretion to the Chair have been included in the vote "For" total.

A copy of the resolution passed at the AADV General Meeting will shortly be available for inspection on both AADV's webpage on the Manager's website (www.albion.capital) as well as at the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism).

​AATG

AATG is pleased to announce that all the resolutions proposed at its General Meeting were duly passed by way of a poll, and the table below shows the result of the votes cast on each resolution.

Resolution

 For Against Withheld
Number Percentage Number Percentage Number
1. 16,421,932 97.45% 430,317 2.55% 0
2. 16,292,197 96.68% 559,942 3.32% 110
3. 16,367,809 98.05% 326,201 1.95% 158,239

Any proxy appointments which gave discretion to the Chair have been included in the vote "For" total.

A copy of the resolutions passed at the AATG General Meeting will shortly be available for inspection on both AATG's webpage on the Manager's website (www.albion.capital) as well as at the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism).

​KAY

KAY is pleased to announce that the resolution proposed at its General Meeting was duly passed by way of a poll, and the table below shows the result of the votes cast on the resolution.

Resolution

 For Against Withheld
Number Percentage Number Percentage Number
1. 48,647,484 97.22% 1,393,294 2.78% 30,466

Any proxy appointments which gave discretion to the Chair have been included in the vote "For" total.

A copy of the resolution passed at the KAY General Meeting will shortly be available for inspection on both KAY's webpage on the Manager's website (www.albion.capital) as well as at the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism).

CRWN

CRWN is pleased to announce that all the resolutions proposed at its General Meeting were duly passed by way of a poll, and the table below shows the result of the votes cast on each resolution.

Resolution

 For Against Withheld
Number Percentage Number Percentage Number
1. 26,050,451 97.14% 767,264 2.86% 33,878
2. 26,107,246 97.35% 710,469 2.65% 33,878
3. 26,226,688 97.88% 568,701 2.12% 56,204
4. 23,747,715 96.65% 822,995 3.35% 2,280,883
5. 26,084,410 97.44% 684,281 2.56% 82,902
6. 26,026,436 97.14% 767,264 2.86% 57,893
7. 26,013,182 97.07% 784,066 2.93% 54,345

Any proxy appointments which gave discretion to the Chair have been included in the vote "For" total.

A copy of the resolutions passed at the CRWN General Meeting will shortly be available for inspection on both CRWN's webpage on the Manager's website (www.albion.capital) as well as at the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism).

​AAVC

AAVC is pleased to announce that the resolution proposed at its General Meeting was duly passed by way of a poll, and the table below shows the result of the votes cast on the resolution.

Resolution

 For Against Withheld
Number Percentage Number Percentage Number
1. 13,087,446 97.68% 311,012 2.32% 67,339


Any proxy appointments which gave discretion to the Chair have been included in the vote "For" total.

A copy of the resolution passed at the AAVC General Meeting will shortly be available for inspection on both AAVC's webpage on the Manager's website (www.albion.capital) as well as at the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism).

FURTHER INFORMATION

For further information, please contact:

Vikash Hansrani
Operations Partner
Albion Capital Group LLP

Telephone: 020 7601 1850


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