Result of AGM

INVESTEC STRUCTURED PRODUCTS CALCULUS VCT PLC

RESULTS OF ANNUAL GENERAL MEETING AND SEPARATE CLASS MEETINGS


Result of Annual General Meeting

The Company is pleased to announce that at the Annual General Meeting held on 
1 July 2014 all resolutions were passed on a show of hands, including the
following resolutions 11 to 13:

Resolution 11 (special resolution): To authorise the Directors to allot shares
for cash pursuant to Sections 570 and 573 of the Companies Act 2006 otherwise
than in accordance with statutory pre-emption rights.

Resolution 12 (special resolution): To authorise the Directors to make market
purchases of the Company's own shares.

Resolution 13 (special resolution): To hold general meetings (other than annual
general meetings) on 14 clear days' notice.

A copy of the full text of Resolutions 11 to 13 will be submitted to the
National Storage Mechanism and will shortly be available for inspection at

http://www.morningstar.co.uk/uk/nsm.

The proxy votes received on each resolution were as follows:

                           For        Against   At Chairman's     Withheld
                                                   discretion             
                                                                          
Resolution 1           361,401            Nil             Nil          Nil
                                                                          
Resolution 2           361,401            Nil             Nil          Nil
                                                                          
Resolution 3           361,401            Nil             Nil          Nil
                                                                          
Resolution 4           361,401            Nil             Nil          Nil
                                                                          
Resolution 5           330,125            Nil          18,276       13,000
                                                                          
Resolution 6           348,401            Nil             Nil       13,000
                                                                          
Resolution 7           348,401            Nil             Nil       13,000
                                                                          
Resolution 8           361,401            Nil             Nil          Nil
                                                                          
Resolution 9           330,125            Nil          18,276       13,000
                                                                          
Resolution 10          361,401            Nil             Nil          Nil
                                                                          
Resolution 11          361,401            Nil             Nil          Nil
                                                                          
Resolution 12          361,401            Nil             Nil          Nil
                                                                          
Resolution 13          361,401            Nil             Nil          Nil




Results of Separate Class Meetings

The Company held Separate Meetings of the Holders of Ordinary Shares and C Shares
on 1 July 2014 and the proposed resolutions were passed on a show of hands.

A special resolution was passed at each Separate Meeting obtaining the approval
and consent of holders of ordinary shares and C shares to resolution 12 passed
at the Company's Annual General Meeting held on 1 July 2014 (which had been
subject to approval at the Separate Meetings) and any variation of class rights
resulting therefrom.

The proxy votes received on the resolution at the Separate Meeting of the
Holders of Ordinary Shares were as follows:

                           For        Against   At Chairman's     Withheld
                                                   discretion             
                                                                          
Resolution             351,401            Nil             Nil          Nil


The proxy votes received on the resolution at the Separate Meeting of the
Holders of C Shares were as follows:

                           For         Against   At Chairman's     Withheld
                                                    discretion             
                                                                           
Resolution              35,162             Nil           5,125          Nil


A copy of the full text of the Resolutions will be submitted to the National
Storage Mechanism and will shortly be available for inspection at

http://www.morningstar.co.uk/uk/nsm.