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Gresham HouseRE VCT2 (GV2O)

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Tuesday 23 March, 2021

Gresham HouseRE VCT2

Result of AGM

RNS Number : 0844T
Gresham House Renewable EnergyVCT2
22 March 2021
 

22 March 2021

 

GRESHAM HOUSE RENEWABLE ENERGY VCT 2 PLC

(the "Company")

 

Result of 2021 Annual General Meeting

 

Gresham House Renewable Energy VCT 2 plc, announces that at the Company's 2021 Annual General Meeting held today, all resolutions were passed by way of a poll and the results of the poll, including the proxy votes received, are set out below.

Resolutions 1 to 8 (inclusive) were proposed as ordinary resolutions and resolutions 9 and 10 were proposed as special resolutions.

In accordance with Listing Rule 9.6.2 copies of all the resolutions passed, other than ordinary business, will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .


Resolution

Votes For*

%

Votes Against

%

Total votes validly cast

Total votes cast as % of issued share capital

Vote Withheld **

1

Receive and adopt the Directors' Report and Accounts.

7,088,407,689

100

0

0

7,088,407,689

27.08

0

2

Approve the Directors' Remuneration Report.

6,690,440,119

94

387,957,570

5

7,078,379,689

27.05

10,010,000

3

Re-appoint BDO LLP as the Company's auditor.

7,083,227,514

100

5,180,175

0

7,088,407,689

27.08

0

4

Authorise the Directors to determine the auditor's remuneration.

7,088,407,689

100

0

0

7,088,407,689

27.08

0

5

Re-elect Christian Yates as a Director.

6,780,294,884

96

308,112,805

4

7,088,407,689

27.08

0

6

Re-elect Giles Clark as a Director.

6,785,475,059

96

302,932,630

4

7,088,407,689

27.08

0

7

Elect Andrew Donovan as a Director.

6,780,294,884

96

308,112,805

4

7,088,407,689

27.08

0

8

Approve the continuation of the Company as a venture capital trust, for a further five year period, be approved.

2,184,329,262

31

4,904,078,427

69

7,088,407,689

27.08

0

9

Authorise the Company to make market purchases of its shares.

6,693,537,213

94

394,870,476

6

7,088,407,689

27.08

0

10

Authorise the Directors to call a general meeting, other than an annual general meeting, on not less than 14 clear days' notice.

6,700,450,119

95

387,957,570

5

7,088,407,689

27.08

0

 

* Includes discretionary votes

** A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution.

 

Resolution 8, which related to the continuation of the Company as a venture capital trust for a period of five years, has not passed. In the light of the votes against this resolution, the Company will undertake a detailed review of the feedback received on this matter to ensure it fully understands shareholders' concerns. The Board takes seriously its responsibilities to uphold the highest standards of corporate governance and is open to constructive dialogue with shareholders and shareholder bodies.

 

In light of Resolution 8 not achieving the required majority to pass, the Company will be required to draw up proposals for voluntary liquidation, reconstruction or other re-organisation of the Company for consideration by the members in a General Meeting to be held within four months of the AGM. The Directors will work, alongside the directors of Gresham House Renewable Energy VCT 1 plc, over the next four months to devise the best possible proposals to put to shareholders, seeking to maximise the return to shareholders whilst preserving the tax position of those who invested in 2018.

 

END

 

For further information, please contact:

Gresham House Asset Management
Investor Relations

[email protected]
Tel: 020 3875 9860



JTC (UK) Limited - Company Secretary
Christopher Gibbons

[email protected]
Tel: 44 203 846 9774

 

 

LEI: 213800GQ3JQE2M214C75

 

Notes:

As at close of business on 18 March 2021, the Company's issued share capital comprised 26,133,036 Ordinary Shares and 39,463,845 'A' Shares, excluding shares held in treasury, and the total number of voting rights in the Company were 26,172,499,845, being 26,133,036,000 votes attributable to Ordinary Shares and 39,463,845 rights attributable to "A" Shares.

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