Result of AGM

Blackfinch Spring VCT PLC

08 June 2023

 

Blackfinch Spring VCT plc (the "Company")

Results of Annual General Meeting (the "Meeting")

At the Annual General Meeting of the Company held on Thursday 8 June 2023 at 11.00am, the following resolutions were duly passed.

Ordinary Resolutions

1.         To receive and adopt the Directors' Report and Financial Statements of the Company for the financial year ended 31 December 2022 together with the Independent Auditor's Report thereon.

2.         To approve the Directors' Remuneration Report for the year ended 31 December 2022 other than the part of such Report containing the Directors' Remuneration Policy.

3.         To appoint BDO LLP as the auditor of the Company from the conclusion of the Meeting until the conclusion of the next annual general meeting of the Company to be held in 2024 at which financial statements are laid before the Company.

4.         To authorise the directors of the Company to fix the remuneration of the auditor.

5.         To re-elect Peter Hewitt as a director of the Company in accordance with the Articles of

             Association.

6.         To re-elect Reuben Wilcock as a director of the Company in accordance with the Articles of

             Association and the Listing Rules.

7.         THAT, the directors of the Company be and hereby are generally and unconditionally authorised in accordance with section 551 of the Companies Act 2006, to exercise all of the powers of the Company to allot shares in the Company or to grant rights to subscribe for or to convert any security into shares in the Company up to an aggregate nominal value of £400,000, representing approximately 158% of the issued share capital of the Company as at 1 April 2023, being the latest practical date prior to publication of this document, provided that the authority conferred by this Resolution 7 shall expire at the conclusion of the Company's next annual general meeting or on the expiry of fifteen months following the passing of this Resolution 7, whichever is the later (unless previously renewed, varied or revoked by the Company in general meeting).

Special Resolutions

8.         That, the Directors be and hereby are empowered pursuant to Section 570(1) of CA 2006 to allot or make offers or agreements to allot equity securities (which expression shall have the meaning ascribed to it in Section 560(1) of CA 2006) for cash pursuant to the authority given in accordance with Section 551 of CA 2006 by Resolution 7 above as if Section 561(1) of CA 2006 did not apply to such allotments, provided that the power provided by this Resolution 8 shall expire at the conclusion of the Company's next annual general meeting or on the expiry of fifteen months following the passing of this Resolution 8, whichever is the later (unless previously renewed, varied or revoked by the Company in general meeting).

9.         That, the Company be and is hereby authorised to make one or more market purchases (within the meaning of section 693(4) of the CA 2006) of Ordinary Shares provided that:

9.1 the maximum aggregate number of Ordinary Shares authorised to be purchased is an

      amount equal to 14.99% of the issued Ordinary Shares;

9.2 the minimum price which may be paid for an Ordinary Share is their nominal value;

9.3 the maximum price which may be paid for an Ordinary Share is an amount equal to the

      higher of (i) 105% of the average of the middle market quotation per Share taken from

      the London Stock Exchange daily official list for the five Business Days immediately

      preceding the day on which such Ordinary Share is to be purchased; and (ii) the amount

      stipulated by the UK version of Article 5(6) of Market Abuse Regulation

      (596/2014/EU); and

9.4 unless renewed, the authority hereby conferred shall expire either at the conclusion of

      the annual general meeting of the Company following the passing of this Resolution 9

      or on the expiry of fifteen months from the passing of this Resolution 9, whichever is

      the later, save that the Company may, prior to such expiry, enter into a contract to

      purchase Ordinary Shares which will or may be completed or executed wholly or partly

      after such expiry.

	Resolution	For & Discretionary	Against	Withheld
1.	Directors' Report and Financial Statements and Auditor's Report	85,351	0	0
2.	Directors' Remuneration Report	79,023	6,328	0
3.	Re-appoint BDO LLP as auditor	82,163	3,188	0
4.	Auditor remuneration	82,211	3,140	0
5.	Re-elect Peter Hewitt	82,163	3,188	0
6.	Re-elect Reuben Wilcock	85,351	0	0
7.	Allot shares	82,211	0	3,140
8.	Authority to disapply pre-emption rights	79,023	3,188	3,140
9.	Share buyback authority	82,211	0	3,140

For further information please contact:

Blackfinch Investments Limited (Investment Manager) - 01452 717070

The City Partnership (UK) Limited (Company Secretary) - [e-mail] - Robin Smeaton

 

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