Hazel Renewable Energy VCT 2 plc : Result of AG...

Hazel Renewable Energy VCT2 plc
7 March 2016
AGM Results and Statement

The Annual General Meeting of Hazel Renewable Energy VCT2 plc took place earlier today.  The meeting was adjourned from the original venue and relocated to a larger venue and commenced at 2:25pm.

At the start of meeting the Chairman, Peter Wisher, announced that, in view of a large number of proxy votes that had been submitted against existing directors, the Company had taken legal advice and had agreed to take steps to ensure that the Company did not end up breaching the Company Act 2006 by virtue of having less that two directors.

Accordingly, it was announced that Peter Wisher and Christian Yates had withdrawn their offer to resign as non-executive directors at the AGM and were not required to do so under the Company's Articles of Association. Resolutions 4 & 6 seeking re-election for Peter Wisher and Christian Yates were therefore withdrawn.

It was further announced that Alexander Hambro and Bozkurt Aydinoglu had withdrawn their offer to stand for re-election and would therefore cease to be a non-executive directors at the end of the AGM. Resolutions 5 and 7 were therefore also withdrawn.

Resolutions 1, 2, 3 and 8 were carried on a show of hand but Resolution 9 to change the Articles of Association was defeated.

Details of the proxy votes in respect of the Annual General Meeting resolutions received as at 2:05pm on 3 March 2015, 48 hours before the scheduled time of the meeting (excluding weekends), at Downing LLP are set out below:

		For	Discretionary	Against	Total	Withheld
Res. No.		No. of	No. of	No. of	No. of	No. of
		Votes Cast	Votes Cast	Votes Cast	Votes Cast	Votes
		% of votes	% of votes	% of votes	% of votes
1		23,086,464,203	426,664,238	-	23,513,128,441	-
		98.19%	1.81%	0.00%	100.00%
2		23,081,284,028	426,664,238	5,180,175	23,513,128,441	-
		98.17%	1.81%	0.02%	100.00%
3		23,081,284,028	426,664,238	5,180,175	23,513,128,441	-
		98.17%	1.81%	0.02%	100.00%
4	WITHDRAWN	20,018,796,600	426,664,238	3,067,667,603	23,513,128,441	-
		85.14%	1.81%	13.05%	100.00%
5	WITHDRAWN	939,685,549	426,664,238	22,146,778,654	23,513,128,441	-
		4.00%	1.81%	94.19%	100.00%
6	WITHDRAWN	23,081,284,028	426,664,238	5,180,175	23,513,128,441	-
		98.17%	1.81%	0.02%	100.00%
7	WITHDRAWN	939,685,549	426,664,238	22,146,778,654	23,513,128,441	-
		4.00%	1.81%	94.19%	100.00%
8		22,999,421,247	426,664,238	-	23,426,085,485	87,042,956
		98.18%	1.82%	0.00%	100.00%
9		10,038,573,347	25,025,000	13,449,530,094	23,513,128,441	-
		42.69%	0.11%	57.20%	100.00%

A copy of the resolutions passed will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do

After the completion of the formal business, the Chairman announced that the Company had erroneously omitted to propose a resolution to Shareholders seeking that the Company continue as a VCT at this AGM and would therefore be taking steps in due course to call a further General Meeting to put such a resolution.

The Chairman also announced that the Company had received correspondence in the last week from a party representing a group of shareholders and, after taking professional advice, the Company is now consulting The Panel on Takeovers and Mergers.

---

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Hazel Renewable Energy VCT 2 plc via Globenewswire

HUG#1992508