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17 Jul 2025 15:28
The Biotech Growth Trust PLC - Result of AGMThe Biotech Growth Trust PLC - Result of AGM
PR Newswire
LONDON, United Kingdom, July 17
THE BIOTECH GROWTH TRUST PLC
(the "Company")
Results of the Annual General Meeting
The Board is pleased to announce that at the Annual General Meeting (AGM) of the Company held on Thursday, 17 July 2025 all resolutions as detailed below were duly passed by shareholders on a poll.
Resolutions | Votes For | % | Votes Against | % | Total Votes Cast | Votes Withheld*
|
1. To receive the audited financial statements and the Report of the Directors for the year ended 31 March 2025.
| 7,975,685
| 99.92
| 6,651
| 0.08
| 7,982,336
| 667,777
|
2. To approve the Directors' Remuneration Report for the year ended 31 March 2025.
| 7,907,296
| 99.37
| 49,832
| 0.63
| 7,957,128
|
692,985
|
3. To re-elect Hamish Baillie as a Director of the Company.
| 7,938,961
| 99.52
| 38,387
| 0.48
| 7,977,348
| 672,765
|
4. To re-elect Geoff Hsu as a Director of the Company.
| 5,969,910
| 99.29
| 42,878
| 0.71
| 6,012,788
| 2,637,325
|
5.. To re-elect Dr Nicola Shepherd as a Director of the Company.
| 7,929,461
| 99.36
| 51,295
| 0.64
| 7,980,756
| 669,357
|
6. To re-elect Roger Yates as a Director of the Company.
| 7,937,295
| 99.50
| 40,053
| 0.50
| 7,977,348
| 672,765
|
7. To elect Julie Tankard as a Director of the Company.
| 7,932,765
| 99.40
| 47,991
| 0.60
| 7,980,756
| 669,357
|
8. To re-appoint BDO LLP as auditor and to authorise the Audit Committee to determine their remuneration.
| 6,884,315
| 99.71
| 20,273
| 0.29
| 6,904,588
| 1,745,525
|
9. To authorise the Directors to allot securities in the Company.
| 7,940,791
| 99.47
| 42,610
| 0.53
| 7,983,401
|
666,712
|
10#. To disapply the rights of pre-emption in relation to the allotment of securities.
| 7,923,509
| 99.29
| 56,443
| 0.71
| 7,979,952
| 670,161
|
11#. To authorise the Company to make market purchases of Ordinary shares in the Company.
| 7,969,302
| 99.86
| 11,324
| 0.14
| 7,980,626
|
669,487
|
12#. (Subject to court approval) to reduce the share capital of the Company by cancelling the entire amount standing to the credit of the share premium account and the capital redemption reserve to create a new distributable reserve.
| 7,968,939
| 99.83
| 13,582
| 0.17
| 7,982,521
| 667,592
|
13#. To authorise the Directors to hold General Meetings (excluding AGMs) on not less than 14 clear days' notice.
| 7,935,239
| 99.55
| 35,629
| 0.45
| 7,970,868
| 679,245
|
14. That the Company should continue as an investment trust for a further period of five years.
| 6,624,050
| 76.68
| 2,014,787
| 23.32
| 8,638,837
| 11,276
|
# designates a Special Resolution
* Please note that a `vote withheld' is not a vote in law and is not counted in the calculation of the proportion of votes `For' and `Against' a resolution.
Any proxy votes which are at the discretion of the Chair have been included in the "For" total.
At 6.30pm on 15 July 2025 the total number of Ordinary shares of 25p each in issue and the total number of voting rights was 25,368,360.
The voting figures will shortly be made available on the Company's website at www.biotechgt.com
In accordance with UK Listing Rules 6.4.2 and 6.4.3, the full text of the resolutions passed has been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. In addition, resolutions 9 to 13 will be filed at Companies House.
Statement from the Board
All resolutions proposed at the AGM were duly passed. The majority received votes in favour exceeding 99%, while Resolution 14, approving the continuation of the Company as an investment trust for a further five years, secured 77% support.
In accordance with Provision 4 of the UK and AIC Corporate Governance Codes, when 20% or more of votes are cast against the board recommendation for a resolution, the Company is required to explain what actions it intends to take to consult shareholders in order to understand the reasons behind the result.
Ahead of the Annual General Meeting, the Board proactively engaged with major shareholders and was encouraged to learn that the majority expressed support for the Company's continuation. The Board was recently made aware of concerns raised by a dissenting shareholder. The Board will engage further with them and remains committed to constructive dialogue with all shareholders. Further updates will be shared in due course.
17 July 2025
For further information please contact:
Katherine Manson | Frostrow Capital LLP - Company Secretary | 020 3709 8734 |
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