Last checked at 
28 Jan 2022 12:22
New Century AIM VCT 2 Plc
Shareholder request for a general meeting
New Century AIM VCT 2 Plc (the “Company”) announces that the board of directors (the "Board") recently received a letter from a shareholder calling for the resignations of Geoffrey Gamble, Simon Like, Ian Cameron and Peter Riley from the Board on the grounds that, following the general meeting of the Company held on 9 December 2021 at which a special resolution to voluntarily wind up the Company was not passed, the Board, with the exception of Michael Barnard, no longer represents the wishes of the majority of the Company’s shareholders. The letter also stated that should those directors not resign, the shareholder would take steps to convene a general meeting for the purposes of tabling ordinary resolutions to remove the aforementioned directors from the Board.
The aforementioned directors categorically reject any suggestion that they have not always acted in the best interests of the shareholders as a whole, have refused this request to resign and will contest any vote which seeks to remove them from office.
The Board, with the exception of Michael Barnard, believe it is in the best interests of all shareholders to respect the result of the December 2021 general meeting as the Company is currently the best performing AIM Venture Capital Trust over 1 year by share price performance and the best performing AIM Venture Capital Trust by Net Asset Value over 1 year and 3 years with a mature portfolio that has enabled the Company to pay tax free dividends to its shareholders.
The Company also announces that yesterday the Board received a letter from the same shareholder and Michael Barnard, a director and shareholder of the Company, requesting that the Board convene a general meeting under s303 Companies Act 2006 for the purpose of tabling ordinary resolutions to remove Geoffrey Gamble, Simon Like, Ian Cameron and Peter Riley from the Board.
The Board will call a general meeting of the Company pursuant to the requirements of s304 Companies Act 2006 within 21 days of the receipt of the letter.
For more information, contact:
New Century AIM VCT 2 Plc
Tricor Secretaries Ltd, Company Secretary Tel: 020 3216 2000
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
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