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Blackfinch SpringVCT (BFSP)

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Thursday 10 June, 2021

Blackfinch SpringVCT

Result of AGM

RNS Number : 5582B
Blackfinch Spring VCT PLC
10 June 2021
 

Blackfinch Spring VCT plc (the "Company")

Results of Annual General Meeting

 

At the Annual General Meeting of the Company held on Wednesday 9 June 2021 at 10.00am, 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 2020 together with the Independent Auditor's Report thereon.

 

2.   To approve the Directors' Remuneration Policy.

 

3.   To approve the Directors' Remuneration Report for the financial year ended 31 December 2020.

 

4.   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 2022 at which financial statements are laid before the Company.

 

5.   To authorise the directors to fix the remuneration of the auditor.

 

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

  Association.

 

7.   To re-elect Kate Jones as a director of the Company in accordance with the Articles of

  Association.

 

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

  Association and the Listing Rules.

 

9.   THAT, the directors of the Company be and are hereby 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 407% of the issued share capital of the Company as at 1 April 2021, being the latest practical date prior to publication of this document, provided that the authority conferred by this Resolution 9 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 9, whichever is the later (unless previously renewed, varied or revoked by the Company in general meeting).

 

Special Resolutions

 

10.   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 9 above as if Section 561(1) of CA 2006 did not apply to such allotments, provided that the power provided by this Resolution 10 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 10, whichever is the later (unless previously renewed, varied or revoked by the Company in general meeting).

 

11.   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:

 

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

  amount equal to 14.99% of the issued Ordinary Shares;

 

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

 

11.3 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

 

11.4 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 11

  or on the expiry of fifteen months from the passing of this Resolution 11, 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

121,260

0

0

2.

Directors' Remuneration Policy

49,084

8,491

63,685

3.

Directors' Remuneration Report

121,260

0

0

4.

Re-appoint BDO LLP as auditor

121,260

0

0

5.

Auditor remuneration

121,260

0

0

6.

Re-elect Peter Hewitt

121,260

0

0

7.

Re-elect Kate Jones

121,260

0

0

8.

Re-elect Reuben Wilcock

121,260

0

0

9.

Allot shares

49,084

0

72,176

10.

Authority to disapply pre-emption rights

49,084

8,491

63,685

11.

Share buyback authority

112,769

8,491

0

 

 

For further information please contact:

 

Blackfinch Investments Limited (Investment Manager) - 01452 717070

 

The City Partnership (UK) Limited (Company Secretary) - [email protected] - Robin Smeaton

 

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