General Meeting Result

Albion Technology & General VCT PLC ("Company")

 

GM Results

 

4 November 2013

 

This announcement is made by Albion Technology & General VCT PLC ("the Company") in connection with the proposed merger of the Company with Albion Income & Growth VCT PLC ("AAIG").

 

The merger will be completed pursuant to a scheme of reconstruction under Section 110 of the Insolvency Act 1986 whereby AAIG will be placed in members' voluntary liquidation and will transfer all of its assets and liabilities to the Company in consideration for shares being issued by the Company ("Scheme"), details of which were contained in the Company's circular to shareholders ("Circular") dated 10 October 2013.

 

The Board is pleased to announce that at the general meeting of the Company held on 4 November 2013, the resolutions proposed in connection with the Scheme and other matters, as set out in the Circular, were duly passed on a show of hands as follows:

 

·         Resolution 1 - to approve the acquisition of the assets and liabilities of AAIG and the allotment of shares pursuant to the Scheme - 99.15% of proxy votes received being in favour (or at the chairman's discretion);

·         Resolution 2 - to approve an amendment to the articles of association of the Company - 93.81% of proxy votes received being in favour (or at the chairman's discretion);

·         Resolution 3 - to authorise the directors to allot shares - 97.25% of proxy votes received being in favour (or at the chairman's discretion);

·         Resolution 4 - to disapply pre-emption rights - 97.16% of proxy votes received being in favour (or at the chairman's discretion);

·         Resolution 5 - to authorise the directors to authorise the Company to make market purchases of shares - 99.03% of proxy votes received being in favour (or at the chairman's discretion);

·         Resolution 6 - to approve the cancellation of the share premium account of the Company and the capital redemption reserve (in each case subject to the sanction of the Court) - 99.24% of proxy votes received being in favour (or at the chairman's discretion); and

·         Resolution 7 - to approve the revised performance incentive arrangement with Albion - 91.78% of proxy votes received being in favour (or at the chairman's discretion).

A copy of the resolutions passed at the above meeting will shortly be available for inspection on both the Company's website (www.albion-ventures.co.uk) as well as at the National Storage Mechanism (www.morningstar.co.uk/uk/NSM).

 

For further enquiries please contact:

Albion Ventures LLP
Patrick Reeve/Henry Stanford
Telephone: [phone]

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Source: Albion Technology & General VCT PLC - Ordinary Shares via Thomson Reuters ONE

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