12 Jul 2021 15:58
12 July 2021
Triple Point VCT 2011 plc
(the "Company")
RESULT OF ANNUAL GENERAL MEETING
The Board of Triple Point VCT 2011 plc announces that at the Company's Annual General Meeting held today, with the exception of resolution 8 which failed to carry, all other resolutions were passed by shareholders. All resolutions were voted on by way of a poll.
The Board acknowledge that resolution 8 failed to carry due to an insufficient number of votes cast. The Company's articles of association required at least 25% of issued share capital to be voted to pass the resolution. Nevertheless, the Board note that, of the votes cast, over 98% of votes in respect of the resolution were in favour. The Board will now consider what actions, if any, should be taken in respect of the B Share Class assets, and provide shareholders with an update in due course.
Resolutions 1 to 8 (inclusive) were proposed as ordinary resolutions and resolutions 9 to 11 (inclusive) were proposed as special resolutions. The results of the poll were as follows:
Resolution | Votes For | % | Votes Against | % | Total votes validly cast | Total votes cast as % of issued share capital | Votes Withheld* | |
1 | To receive and adopt the Annual Report and Accounts of the Company for the year ended 28 February 2021. | 3,800,534 | 100.00 | 0 | 0.00 | 3,800,534 | 10.14 | 749,821 |
2 | To approve the Directors' Remuneration Report. | 3,660,905 | 98.43 | 58,349 | 1.57 | 3,719,254 | 9.92 | 831,101 |
3 | To re-elect Jane Owen as a Director. | 3,723,131 | 99.39 | 22,823 | 0.61 | 3,745,954 | 9.99 | 804,401 |
4 | To re-elect Timothy Clarke as a Director. | 3,715,153 | 99.18 | 30,801 | 0.82 | 3,745,954 | 9.99 | 804,401 |
5 | To re-elect Chad Murrin as a Director. | 3,715,153 | 99.18 | 30,801 | 0.82 | 3,745,954 | 9.99 | 804,401 |
6 | To re-appoint BDO LLP as Auditors of the Company and to authorise the Audit Committee to determine the Auditor's remuneration. | 3,739,689 | 99.83 | 6,265 | 0.17 | 3,745,954 | 9.99 | 804,401 |
7 | To authorise the Directors to allot shares. | 3,731,461 | 99.47 | 19,699 | 0.53 | 3,751,160 | 10.01 | 799,195 |
8 | To divest of the remaining B Share Class assets with the ultimate intention to wind-down and cancel the B Share Class. | 4,500,981 | 98.91 | 49,374 | 1.09 | 4,550,355 | 12.14 | 0 |
9 | To disapply pre-emption rights. | 3,534,713 | 98.65 | 48,505 | 1.35 | 3,583,218 | 9.56 | 967,137 |
10 | To authorise the Company to purchase its own shares. | 3,603,760 | 96.35 | 136,470 | 3.65 | 3,740,230 | 9.98 | 810,125 |
11 | To authorise the calling of general meetings, other than an annual general meeting, on not less than 14 clear days' notice. | 3,634,180 | 97.01 | 112,105 | 2.99 | 3,746,285 | 9.99 | 804,070 |
*A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution.
Every shareholder has one vote for every share held. As at 12 July 2021, the Company's issued share capital comprised of 9,777,285 A Ordinary Shares of 1p each, 6,758,795 B Ordinary Shares of 1p each and 20,953,339 Venture Shares of 1p each. Each A Ordinary, B Ordinary and Venture Share carries the right to one vote at a general meeting of the Company and therefore the total number of voting rights is 37,489,419.
The full text of all the resolutions can be found in the Notice of Annual General Meeting dated 26 May 2021, a copy of which is available on the Company's website at https://www.triplepoint.co.uk/current-vcts/triple-point-vct-2011-plc/s2539/.
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.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Triple Point Investment Management LLP (Investment Manager) | Tel: 020 7201 8989 |
Ian McLennan Belinda Thomas |
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The Company's LEI is 213800AOOAQA5XQDEA89
Further information on the Company can be found on its website https://www.triplepoint.co.uk/current-vcts/triple-point-vct-2011-plc/s2539/.
NOTES:
The Company is a Venture Capital Trust incorporated in July 2010. The Investment Manager is Triple Point Investment Management LLP. The Company was established to fund small and medium sized enterprises (SMEs). The Company launched a new share class, known as The Venture Fund, in March 2019 which is mandated to invest in SMEs producing products or digital services that solve challenges faced by their larger corporate customers.