Albion Ven Cap Trust Gm Statement

 
TIDMAAVC 
 
 
   Albion Venture Capital Trust PLC 
 
 
 
   LEI Code 213800JKELS32V2OK421 
 
 
 
   Results of General Meeting 
 
   The General Meeting (the "Meeting") of Albion Venture Capital Trust PLC 
(the "Company") was duly convened and held on Wednesday 21 August 2019 
at The Charterhouse, Charterhouse Square, London, EC1M 6AN, following 
the AGM. 
 
   The Board proposed an ordinary resolution, as set out in a circular sent 
to the Company's shareholders dated 1 July 2019, to approve the changes 
to the Company's Management Agreement, including a new performance 
incentive and a reduction in the total expenses cap. The resolution was 
duly passed on a show of hands at the Meeting. 
 
   The table below sets out the proxy votes which were cast in advance of 
the Meeting for the ordinary resolution passed on a show of hands. 
 
 
 
 
 
 Resolution 1             For                    Against          Withheld 
--------------  -----------------------  -----------------------  -------- 
                  Votes    % Votes Cast    Votes    % Votes Cast   Votes 
--------------  ---------  ------------  ---------  ------------  -------- 
Approve the 
 changes to 
 the 
 management 
 agreement      8,863,854        70.44%  3,719,956        29.56%    67,438 
--------------  ---------  ------------  ---------  ------------  -------- 
 
 
   The Board note that 70.44% of the votes cast were in favour of the 
ordinary resolution.  However, more than 20% of shareholders voted 
against the resolution. In accordance with UK Corporate Governance, the 
Board will reflect carefully on feedback from shareholders to understand 
more fully the reasons for the opposition to this resolution. 
 
   An update on the review process will be made in accordance with the UK 
Corporate Governance Code within six months of the Meeting. 
 
   30 August 2019 
 
   For further information please contact: 
 
   Albion Capital Group LLP 
 
   Company Secretary 
 
   Tel: [phone] 
 
 
 
 

(END) Dow Jones Newswires

August 30, 2019 13:30 ET (17:30 GMT)

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