General Meeting Result

Albion Venture Capital Trust plc ("Company")

 

General Meeting Results

 

17 September 2012

 

This announcement is made by Albion Venture Capital Trust PLC ("the Company") in connection with the proposed merger of the Company with Albion Prime VCT PLC ("Prime"). The merger will be completed pursuant to a scheme of reconstruction under Section 110 of the Insolvency Act 1986 whereby Prime will be placed in members' voluntary liquidation and will transfer all of its assets and liabilities to the Company in consideration of shares being issued by the Company ("Scheme"), details of which were contained in the Company's circular to shareholders ("Circular") and prospectus ("Prospectus"), both dated 27 July 2012.

 

The Board is pleased to announce that at the general meeting of the Company held on 17 September 2012, 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 Prime, the allotment of shares pursuant to the Scheme and to amend the  articles of association of the Company to revoke the share capital limit - 98.72% of proxy votes received being in favour (or at the chairman's discretion);

·         Resolution 2 - to authorise the directors to allot shares - 98.52% of proxy votes received being in favour (or at the chairman's discretion); and

·         Resolution 3 - to disapply pre-emption rights - 98.29% of proxy votes received being in favour (or at the chairman's discretion); and

·         Resolution 4 - to authorise the directors to authorise the Company to make market purchases of shares - 97.53% of proxy votes received being in favour (or at the chairman's discretion); and

·         Resolution 5 - to reduce the nominal value per share to 1 penny and 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) - 98.64% 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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information contained therein.

Source: Albion Venture Capital Trust PLC via Thomson Reuters ONE

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