Directorate change

28 Jan 2022 12:13

221258/1/12063419.1

New Century AIM VCT Plc

Resignation of Directors

New Century AIM VCT Plc (the “Company”) announces the resignation of Geoffrey Gamble, Chairman, Simon Like, Ian Cameron and Peter Riley from the board of directors (the "Board") with immediate effect.

The Board recently received a letter from a shareholder calling for the resignations of the aforementioned directors 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special resolution to voluntarily wind up the Company was not passed, the Board, with the exception of Michael Barnard, no longer represents the wishes of the majority of the Company’s shareholders.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 removing the aforementioned directors from the Board.

Whilst the Board categorically rejects any suggestion that it has not always acted in the best interests of the shareholders as a whole, the aforementioned directors agreed to resign from the Board as their position was no longer tenable on the basis that the shareholders in support of this course of action, which included Michael Barnard, hold the requisite percentage of shares in the Company to requisition a general meeting and to pass the ordinary resolutions required to remove them from office.

Michael Barnard, as the remaining director of the Company, shall appoint new members to the Board in due course.

For more information, contact:

New Century AIM VCT 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220128005251/en/

Copyright Business Wire 2022