GM Statement

At a General Meeting of Albion Development VCT PLC, duly convened and held at 1 King's Arms Yard, London EC2R 7AF on 11 January 2016, the following resolutions were passed:

Resolution 1 was passed as an ordinary resolution and Resolution 2 was passed as a special resolution.

ORDINARY RESOLUTION

1. THAT, in substitution for all other subsisting authorities to the extent unused, the Directors of the Company 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 ("Rights") up to an aggregate nominal amount of £109,614 Ordinary Shares provided that this authority shall expire 18 months from the date this resolution is passed or, if earlier, at the conclusion of the Annual General Meeting of the Company held in 2016 (unless previously revoked, varied, renewed or extended by the Company in general meetings), 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 or Rights to be granted after such expiry.

SPECIAL RESOLUTION

2. THAT the Directors be and are hereby empowered pursuant to sections 570 and 573 of the Act, to allot equity securities as defined in section 560 of the Act for cash pursuant to the authority given pursuant to resolution 1 set out in the notice of this meeting, or by way of a sale of Treasury shares, as if section 561(1) of the Act did not apply to any such allotment, provided that this power shall be limited to:
   1. the allotment of equity securities up to an aggregate nominal amount representing 20 per cent. of the issued share capital (excluding Treasury shares) pursuant to one or more offers for subscription;
   2. the allotment of equity securities up to an aggregate nominal amount representing 10 per cent. of the issued share capital (excluding Treasury shares) from time to time pursuant to any dividend reinvestment scheme operated by the Company; and
   3. the allotment of equity securities (otherwise than pursuant to sub-paragraphs (a) and (b) above) up to an aggregate nominal amount representing 10 per cent. of the issued share capital (excluding Treasury shares) from time to time,

and the power conferred by this resolution shall expire on the date falling 18 months from the date this resolution is passed or, if earlier, at the conclusion of the Annual General Meeting of the Company to be held in 2016 (unless previously revoked, varied, renewed or extended by the Company in general meeting), except that the Company may, before such expiry, make offers or agreements which would or might require equity securities to be allotted after such expiry and the Directors shall be entitled to allot equity securities pursuant to any such offers or agreements as if the power conferred by this resolution had not expired.

11 January 2016
For further information please contact:
Albion Ventures LLP
Tel: [phone]

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Albion Development VCT PLC - Ordinary Shares via Globenewswire

HUG#1978131