AGM and EGM Results

Matrix Income & Growth VCT plc
 
AGM and EGM Results
 
12 May 2010
 
The board ("Board") of Matrix Income & Growth VCT plc ("the Company") announces that at the annual general meeting of the Company held on 12 May 2010, all of the resolutions proposed as set out in the notice of annual general meeting contained in the annual report and accounts of the Company for the year ended 31 December 2009 were duly passed as follows:
 
Resolution 1 to receive and adopt the Directors' Report and audited Financial Statements for the year ended 31 December 2009;

Resolution 2 to approve the Directors' Remuneration Report;

Resolution 3 to re-appoint PKF (UK) LLP as auditors to the Company;

Resolution 4 to authorise the Directors to determine the remuneration of the auditors;

Resolution 5 to re-elect Bridget Guérin as a director of the Company;

Resolution 6 to authorise the directors to allot shares;

Resolution 7 to authorise the directors to disapply pre-emption rights of members;

Resolution 8 to authorise the Company to make market purchases of shares;

Resolution 9 to adopt new articles of association of the Company; and

Resolution 10 to approve a resolution that a general meeting other than an annual general meeting may be called on not less than 14 clear days notice.

Details of the proxy votes in respect of the resolutions passed at the annual general meeting received are set out below:
                                       
Votes                          Resolution 1     Resolution 2     Resolution 3    
                               Number of Votes  Number of Votes  Number of Votes 
                                                                                 
For                            936,161 (83.48%) 901,352 (82.47%) 922,286 (83.61%)
                                                                                 
Discretionary                  185,205 (16.52%) 169,205 (15.48%) 169,205 (15.34%)
                                                                                 
Against                        0 (-)            22,454 (2.05%)   11,605 (1.05%)  
                                                                                 
Withheld                       0                28,355           18,270          
                                                                                 
                                                                                 
Votes                          Resolution 4     Resolution 5     Resolution 6    
                               Number of Votes  Number of Votes  Number of Votes 
                                                                                 
For                            936,391 (84.70%) 928,754 (84.40%) 869,187 (78.45%)
                                                                                 
Discretionary                  169,205 (15.30%) 169,205 (15.37%) 179,205 (16.18%)
                                                                                 
Against                        0 (-)            2,500 (0.23%)    59,502 (5.37%)  
                                                                                 
Withheld                       15,770           20,907           13,472          
                                                                                 


 

Votes                          Resolution 7     Resolution 8     Resolution 9    
                               Number of Votes  Number of Votes  Number of Votes 
                                                                                 
For                            856,622 (78.14%) 903,453 (80.93%) 895,556 (81.17%)
                                                                                 
Discretionary                  169,205 (15.43%) 169,205 (15.16%) 169,205 (15.34%)
                                                                                 
Against                        70,502 (6.43%)   43,696 (3.91%)   38,500 (3.49%)  
                                                                                 
Withheld                       25,037           5,012            18,105          
                                                                                 
                                                                                 
                                                                                 
Votes                          Resolution 10                                     
                               Number of Votes                                   
                                                                                 
For                            882,531 (78.91%)                                  
                                                                                 
Discretionary                  189,405 (16.94%)                                  
                                                                                 
Against                        46,430 (4.15%)                                    
                                                                                 
Withheld                       3,000                                             
                                                                                 
 
The Board further announces that at the extraordinary general meeting of the Company held on 12 May 2010, the resolutions proposed in connection with the proposed merger with Matrix Income & Growth 3 VCT plc ("VCT 3") to be completed by way of a scheme of reconstruction of VCT 3 pursuant to Section 110 of the Insolvency Act 1986 ("Scheme") and the transfer by VCT 3 of all of its assets and liabilities to the Company, as set out in the circular to shareholders dated 14 April 2010, were duly passed as follows
 
Resolution 1 to acquire the assets and liabilities of VCT 3 and authorise the issue of shares pursuant thereto;

Resolution 2 to approve revised management arrangements with Matrix Private Equity Partners LLP;

Resolution 3 to renew share allotment and buy-back authorities; and

Resolution 4 to approve the cancellation of the Company's share premium account.
 
Details of the proxy votes in respect of the resolutions passed at the extraordinary general meeting received are set out below:
 
Votes                          Resolution 1     Resolution 2     Resolution 3    
                               Number of Votes  Number of Votes  Number of Votes 
                                                                                 
For                            1,045,840        869,966 (70.93%) 1,002,902       
                               (82.80%)                          (80.36%)        
                                                                                 
Discretionary                  184,728 (14.63%) 210,278 (17.15%) 189,728 (15.20%)
                                                                                 
Against                        32,500 (2.57%)   146,219 (11.92%) 55,426 (4.44%)  
                                                                                 
Withheld                       0 (-)            36,605           15,012          
                                                                                 
                                                                                 
Votes                          Resolution 4                                      
                               Number of Votes                                   
For                            987,340 (80.56%)                                  
                                                                                 
Discretionary                  197,228 (16,09%)                                  
                                                                                 
Against                        41,000 (3.35%)                                    
                                                                                 
Withheld                       37,500                                           
                                                                               
  
A copy of the resolutions passed at all the above meetings will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at:
 
Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
 
Telephone: [phone]
 

For further enquiries please contact:

 

Rob Brittain/Sarah Penfold

Matrix Private Equity Partners LLP/Matrix-Securities Limited

Company Secretary

 

Telephone: [phone]