TIDMGV2O
RNS Number : 0844T
Gresham House Renewable EnergyVCT2
22 March 2021
22 March 2021
GRESHAM HOUSE RENEWABLE ENERGY VCT 2 PLC
(the "Company")
Result of 2021 Annual General Meeting
Gresham House Renewable Energy VCT 2 plc, announces that at the
Company's 2021 Annual General Meeting held today, all resolutions
were passed by way of a poll and the results of the poll, including
the proxy votes received, are set out below.
Resolutions 1 to 8 (inclusive) were proposed as ordinary
resolutions and resolutions 9 and 10 were proposed as special
resolutions.
In accordance with Listing Rule 9.6.2 copies of all the
resolutions passed, other than ordinary business, will be submitted
to the National Storage Mechanism and will shortly be available for
inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
Resolution Votes For* % Votes Against % Total votes Total votes Vote Withheld
validly cast cast as % of **
issued share
capital
Receive and
adopt the
Directors'
Report and
1 Accounts. 7,088,407,689 100 0 0 7,088,407,689 27.08 0
---------------- -------------- ---- -------------- --- ---------------- ---------------- ----------------
2 Approve the 6,690,440,119 94 387,957,570 5 7,078,379,689 27.05 10,010,000
Directors'
Remuneration
Report.
---------------- -------------- ---- -------------- --- ---------------- ---------------- ----------------
3 Re-appoint BDO 7,083,227,514 100 5,180,175 0 7,088,407,689 27.08 0
LLP as the
Company's
auditor.
---------------- -------------- ---- -------------- --- ---------------- ---------------- ----------------
4 Authorise the 7,088,407,689 100 0 0 7,088,407,689 27.08 0
Directors to
determine the
auditor's
remuneration.
---------------- -------------- ---- -------------- --- ---------------- ---------------- ----------------
Re-elect
Christian Yates
5 as a Director. 6,780,294,884 96 308,112,805 4 7,088,407,689 27.08 0
---------------- -------------- ---- -------------- --- ---------------- ---------------- ----------------
Re-elect Giles
Clark as a
6 Director. 6,785,475,059 96 302,932,630 4 7,088,407,689 27.08 0
---------------- -------------- ---- -------------- --- ---------------- ---------------- ----------------
Elect Andrew
Donovan as a
7 Director. 6,780,294,884 96 308,112,805 4 7,088,407,689 27.08 0
---------------- -------------- ---- -------------- --- ---------------- ---------------- ----------------
8 Approve the 2,184,329,262 31 4,904,078,427 69 7,088,407,689 27.08 0
continuation of
the Company as
a venture
capital trust,
for a further
five year
period, be
approved.
---------------- -------------- ---- -------------- --- ---------------- ---------------- ----------------
9 Authorise the 6,693,537,213 94 394,870,476 6 7,088,407,689 27.08 0
Company to make
market
purchases of
its shares.
---------------- -------------- ---- -------------- --- ---------------- ---------------- ----------------
10 Authorise the 6,700,450,119 95 387,957,570 5 7,088,407,689 27.08 0
Directors to
call a general
meeting, other
than an annual
general
meeting, on
not less than
14 clear days'
notice.
---------------- -------------- ---- -------------- --- ---------------- ---------------- ----------------
* Includes discretionary votes
** A vote withheld is not a vote in law and is not counted in
the calculation of the votes for or against a resolution.
Resolution 8, which related to the continuation of the Company
as a venture capital trust for a period of five years, has not
passed. In the light of the votes against this resolution, the
Company will undertake a detailed review of the feedback received
on this matter to ensure it fully understands shareholders'
concerns. The Board takes seriously its responsibilities to uphold
the highest standards of corporate governance and is open to
constructive dialogue with shareholders and shareholder bodies.
In light of Resolution 8 not achieving the required majority to
pass, the Company will be required to draw up proposals for
voluntary liquidation, reconstruction or other re-organisation of
the Company for consideration by the members in a General Meeting
to be held within four months of the AGM. The Directors will work,
alongside the directors of Gresham House Renewable Energy VCT 1
plc, over the next four months to devise the best possible
proposals to put to shareholders, seeking to maximise the return to
shareholders whilst preserving the tax position of those who
invested in 2018.
END
For further information, please contact:
Gresham House Asset Management renewablenergy@greshamhouse.com
Investor Relations Tel: 020 3875 9860
JTC (UK) Limited - Company Secretary GreshamVCTs@jtcgroup.com
Christopher Gibbons Tel: 44 203 846 9774
LEI: 213800GQ3JQE2M214C75
Notes:
As at close of business on 18 March 2021, the Company's issued
share capital comprised 26,133,036 Ordinary Shares and 39,463,845
'A' Shares, excluding shares held in treasury, and the total number
of voting rights in the Company were 26,172,499,845, being
26,133,036,000 votes attributable to Ordinary Shares and 39,463,845
rights attributable to "A" Shares.
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END
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