Draper Esprit VCT plc Draper Esprit Vct Plc - Result Of Agm

 
TIDMDEVC 
 
   Draper Esprit VCT plc 
 
   Legal Entity Identifier: 2138003I9Q1QPDSQ9Z97 
 
   Result of AGM 
 
   22 September 2020 
 
   At the Annual General Meeting ("AGM"), of Draper Esprit VCT plc held on 
22 September 2020, which was held as a closed meeting, all resolutions 
were passed. 
 
   Details of the proxy votes in respect of the resolutions passed at the 
AGM received as at 11:00am on 18 September 2020, 48 hours before the 
time of the meeting (excluding weekends), at the receiving agent, 
Downing LLP, are set out below: 
 
 
 
 
                   For  Discretionary     Against       Total  Withheld 
----------  ----------  -------------  ----------  ----------  -------- 
Resolution 
    No.         No. of         No. of      No. of      No. of    No. of 
---------- 
            Votes Cast     Votes Cast  Votes Cast  Votes Cast     Votes 
----------  ----------  -------------  ----------  ----------  -------- 
            % of votes     % of votes  % of votes  % of votes 
----------  ----------  -------------  ----------  ----------  -------- 
    1        4,389,300         90,463           -   4,479,763     8,805 
----------  ----------  -------------  ----------  ----------  -------- 
                97.98%          2.02%       0.00%     100.00% 
----------  ----------  -------------  ----------  ----------  -------- 
    2        4,073,549         62,471     185,066   4,321,086   167,482 
----------  ----------  -------------  ----------  ----------  -------- 
                94.27%          1.45%       4.28%     100.00% 
----------  ----------  -------------  ----------  ----------  -------- 
    3        4,055,238         62,471     215,850   4,333,559   155,009 
----------  ----------  -------------  ----------  ----------  -------- 
                93.58%          1.44%       4.98%     100.00% 
----------  ----------  -------------  ----------  ----------  -------- 
    4        4,405,924         62,471      11,368   4,479,763     8,805 
----------  ----------  -------------  ----------  ----------  -------- 
                98.36%          1.39%       0.25%     100.00% 
----------  ----------  -------------  ----------  ----------  -------- 
    5        4,160,417        123,672     178,797   4,462,886    25,682 
----------  ----------  -------------  ----------  ----------  -------- 
                93.22%          2.77%       4.01%     100.00% 
----------  ----------  -------------  ----------  ----------  -------- 
    6        4,289,852         62,471      74,353   4,426,676    61,892 
----------  ----------  -------------  ----------  ----------  -------- 
                96.91%          1.41%       1.68%     100.00% 
----------  ----------  -------------  ----------  ----------  -------- 
    7        4,278,882         62,471      85,323   4,426,676    61,892 
----------  ----------  -------------  ----------  ----------  -------- 
                96.66%          1.41%       1.93%     100.00% 
----------  ----------  -------------  ----------  ----------  -------- 
    8        4,264,477         62,471      91,461   4,418,409    70,159 
----------  ----------  -------------  ----------  ----------  -------- 
                96.52%          1.41%       2.07%     100.00% 
----------  ----------  -------------  ----------  ----------  -------- 
    9        4,209,280        121,907      95,489   4,426,676    61,892 
----------  ----------  -------------  ----------  ----------  -------- 
                95.09%          2.75%       2.16%     100.00% 
----------  ----------  -------------  ----------  ----------  -------- 
    10       4,423,625         62,471       2,472   4,488,568         - 
----------  ----------  -------------  ----------  ----------  -------- 
                98.55%          1.39%       0.06%     100.00% 
----------  ----------  -------------  ----------  ----------  -------- 
    11       4,279,708         62,471     134,442   4,476,621    11,947 
----------  ----------  -------------  ----------  ----------  -------- 
                95.60%          1.40%       3.00%     100.00% 
----------  ----------  -------------  ----------  ----------  -------- 
    12       4,194,408         62,471     231,689   4,488,568         - 
----------  ----------  -------------  ----------  ----------  -------- 
                93.45%          1.39%       5.16%     100.00% 
----------  ----------  -------------  ----------  ----------  -------- 
 
   A copy of the resolutions passed will be submitted to the National 
Storage Mechanism and will shortly be available for inspection at 
 
   https://www.globenewswire.com/Tracker?data=MTBfw0eJFnH_xn1eKJ6XKeifyQruliO-Qo81Ts4dz8FeXFDirFndZaSaUHQPsGIjXNZUiN4_J6dTsAyxH44vtXVxlA3Gk4IYi1AOlGQLgrXqFmsX7I8K2kFOuDvqytMkM3rU23IaUsxtJp53-An5JRQyN0RYi2dNNKowJ2YE-p2SiBhs8MbpN-uLansd3pfv 
https://data.fca.org.uk/#/nsm/nationalstoragemechanism 
 
   The Company decided to hold its AGM as a closed meeting because of the 
practical difficulties in holding open meetings with the ongoing social 
distancing restrictions. The board invited questions from shareholders 
in writing and comments on the issues raised by shareholders as follows: 
 
   Board independence and director tenure 
 
   Even though all directors have sat on the board of the Company for more 
than 9 years, the board is satisfied that the four independent directors 
have continued to act independently in the manner in which they 
undertake their duties. For example, the Board has been closely involved 
in developing the new management arrangements with Draper Esprit which 
have been put in place over the last couple of years and which have 
effectively resulted in a change of manager for the Company. 
 
   The Board accepts that it is helpful for the director's appointment 
dates to be included in the Annual Report and will ensure this is done 
in future. 
 
   Board succession planning 
 
   Board structure has been a discussion topic for some time now, as the 
Company has undergone a transition in putting in place the arrangements 
with Draper Esprit.  One director stepped down at this AGM today and the 
Board is considering some further changes in due course. 
 
   Auditor's re-election and remuneration as separate AGM resolutions 
 
   The Board will give consideration to having the Auditor's re-election 
and the authority for the directors to determine the Auditor's 
remuneration as separate resolutions in future. 
 
 
 
 
 
 

(END) Dow Jones Newswires

September 22, 2020 10:07 ET (14:07 GMT)

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