IBIS Media VCT 1 plc Result of AGM (9742R)
July 02 2015 - 3:10AM
UK Regulatory
TIDMIBSA
RNS Number : 9742R
IBIS Media VCT 1 plc
02 July 2015
IBIS Media VCT 1 plc (the "Company")
Results of Annual General Meeting
At the Annual General Meeting of the Company held on Wednesday 1
July 2015 at 5.00pm, the following resolutions were duly
passed.
Ordinary Business
1. To receive the Directors' and the Independent Auditor's
Reports and the Company's financial statements for the year ended
31 January 2015.
2. To approve the Directors' Remuneration Report for the year ended 31 January 2015.
3. To re-elect Lucy Macdonald as a director of the Company.
4. To re-elect Sir Robin Miller as a director of the Company.
5. To re-elect Peter English as a director of the Company.
6. To re-elect David Forster as a director of the Company.
7. To re-elect Charles McIntyre as a director of the Company.
8. To re-appoint Scott-Moncrieff as auditors of the Company to
hold office until the conclusion of the next general meeting at
which accounts are laid before the Company.
9. To authorise the Directors to fix the remuneration of the auditors.
10.
(i) 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 up to an aggregate nominal
amount of GBP21,738 during the period commencing on the passing of
this resolution and expiring on the earlier of the date of the
annual general meeting of the Company to be held in 2016 and the
date which is 15 months after the date on which this resolution is
passed (unless the authority is 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
to be allotted after such expiry; and
(ii) That all previous authorities given to the Directors in
accordance with section 551 of the Act be and they are hereby
revoked, provided that such revocation shall not have retrospective
effect.
Special Resolutions
11. The Directors be and are hereby empowered pursuant to
Sections 570 and 573 of the Act to allot or make offers or
agreements to allot equity securities as defined in Section 560 of
the Act for cash pursuant to the authority given pursuant to
Resolution 10 set out in this notice of Annual General Meeting as
if section 561(1) of the Act did not apply to such allotment
provided that this power shall expire on the date falling 15 months
after the date of the passing of this resolution and provided
further that this power shall be limited to:
(i) the allotment of equity securities from time to time with an
aggregate nominal value of up to but not exceeding 10% of the
issued ordinary share capital as at the date of this resolution
where the proceeds of the allotment are to be used in whole or in
part to purchase the Company's ordinary shares, and in addition to
but without prejudice to
(ii) the allotment of equity securities from time to time with
an aggregate nominal value of up to but not exceeding 10% of the
issued ordinary share capital of the Company as at the date of this
resolution.
12. That the Company be and is hereby generally and
unconditionally authorised within the meaning of Section 693(4) of
the Act to make market purchases of ordinary shares of 1p each in
the capital of the Company ("Ordinary Shares") provided that:
(i) The maximum aggregate number of Ordinary Shares hereby
authorised to be purchased is an amount equal to 14.99% of the
issued ordinary share capital of the Company at the date of this
resolution;
(ii) The minimum price (excluding expenses) which may be paid
for an Ordinary Share is 1p per share, the nominal amount
thereof;
(iii) The maximum price (excluding expenses) which may be paid
for an Ordinary Share is the higher of (a) an amount equal to 105%
of the average of the market value of an Ordinary Share for the
five business days immediately preceding the day on which that
Ordinary Share is purchased, and (b) the value of an Ordinary Share
calculated on the basis of the higher of the price quoted for: (1)
the last independent trade of; and (2) the highest current
independent bid for, any number of the Company's Ordinary Shares on
the trading venue where the purchase is carried out.
(iv) The authority hereby conferred shall (unless previously
renewed or revoked) expire on the earlier of the date of the annual
general meeting of the Company to be held in 2015 and the date
which is 15 months after the date on which this resolution is
passed; and
(v) The Company may make a contract or contracts to purchase its
own 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 its own
Ordinary Shares in pursuance of any such contract or contracts as
if the authority conferred hereby had not expired.
2 July 2015
For further information, please contact:
-- Charles McIntyre or David Forster, IBIS Capital Limited, Investment Adviser 020 7070 7080
-- Robin Smeaton, City Partnership, Company Secretary 0131 243 7210
Details of the proxy votes cast in respect of the resolutions
passed at the Annual General Meeting are set out below:
For Against Withheld
No. of No. of votes: No. of votes
votes:
------------ -------- -------------- -------------
Resolution 87,559 nil nil
1
Resolution
2 73,009 14,550 nil
Resolution
3 73,009 14,550 nil
Resolution
4 73,009 14,550 nil
Resolution
5 73,009 14,550 nil
Resolution 87,559 nil nil
6
Resolution 87,559 nil nil
7
Resolution 87,559 nil nil
8
Resolution 87,559 nil nil
9
Resolution 87,559 nil nil
10
Resolution 87,559 nil nil
11
Resolution 87,559 nil nil
12
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