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Share Name Share Symbol Market Type Share ISIN Share Description
Pembroke Vct Plc LSE:PEMB London Ordinary Share GB00BQVC9S79 B ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 106.50 105.00 108.00 106.50 106.50 106.50 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 0

Pembroke VCT PLC Results of AGM

01/10/2020 9:12am

UK Regulatory (RNS & others)


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RNS Number : 7874A

Pembroke VCT PLC

01 October 2020

Pembroke VCT plc

Results of Annual General Meeting

At the Annual General Meeting of Pembroke VCT plc (the "Company") held on 30 September 2020 at 9.00am, the following resolutions were duly passed. (As announced on 25 September 2020, resolution 2, which proposed a final dividend of 3p per B ordinary share, was withdrawn and an interim dividend of 3p per B ordinary share payable on 12 November 2020 with a record date of 9 October 2020 was declared.)

Ordinary Resolutions

1. To receive the Directors' and the Independent Auditor's Reports and the Company's Financial Statements for the year ended 31 March 2020.

   3.         To approve the Directors' Remuneration Policy. 

4. To receive and approve the Directors' Remuneration Report for the year ended 31 March 2020.

5. To appoint BDO LLP as auditor of the Company to hold office until the conclusion of the next general meeting at which accounts are laid before the Company.

   6.         To authorise the Directors to fix the remuneration of the auditor. 
   7.         To re-elect David Till as a Director of the Company. 

8. That, in accordance with article 147 of the Company's Articles of Association and in addition to existing authorities, the Directors of the Company be and are hereby generally and unconditionally authorised in accordance with s551 of the Companies Act 2006 (the "Act") to exercise all the powers of the Company to allot and issue B Ordinary shares pursuant to the terms and conditions of the dividend investment scheme adopted by the Company on 3 December 2015 and in connection with any dividend declared or paid in the period commencing on the date of this resolution 8 and ending on the date of the next AGM or the date falling 15 months after the date of the passing of this resolution:

a. B Ordinary shares of 1 pence each in the capital of the Company ("B Ordinary Shares") up to an aggregate nominal amount representing 10% of the issued B Ordinary Share capital from time to time (approximately 100,185,546 B Ordinary shares at the date of this notice).

Special Resolutions

9. That, in accordance with s570(1) of the Act, the Directors be and are hereby given power to allot or make offers or agreements to allot equity securities (as defined in s560 of the Act) for cash pursuant to the authorities conferred by resolution 8 above as if s561 of the Act did not apply to any such allotment, and so that:

a. Reference to the allotment in this resolution shall be construed with s560 of the Act; and

b. The power conferred by this resolution shall enable the Company to make offers or agreements before the expiry of said power which would or might require equity securities to be allotted after the expiry of the said power and the Directors may allot equity securities of such offers or agreements notwithstanding the expiry of such power.

10. That the Company be and is hereby generally and unconditionally authorised within the meaning of s701 of the Act to make market purchases of B Ordinary Shares of 1 pence each in the capital of the Company ("B Ordinary Shares") provided that:

(i) the maximum number of B Ordinary Shares hereby authorised to be purchased is an amount equal to 14.99% of the issued B Ordinary Share capital of the Company from time to time;

(ii) the minimum price which may be paid for a B Ordinary Share is 1 pence per share, the nominal amount thereof;

(iii) the maximum price which may be paid for a B Ordinary Share is an amount equal to the higher of (a) 105% of the average of the middle market quotation per B Ordinary Share taken from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such B Ordinary Share is to be purchased and (b) the amount stipulated by Article 5(6) of the Market Abuse Regulation.

(iv) the authority hereby conferred shall (unless previously renewed or revoked) expire on the earlier of the AGM of the Company to be held in 2021 and the date which is 15 months after the date on which this resolution is passed; and

(v) the Company may make a contract or contracts to purchase its own B Ordinary Shares under this authority before the expiry of the authority which will or may be executed wholly or partly after the expiry of the authority, and may make a purchase of its own B Ordinary Shares in pursuance of any such contract or contracts as if the authority conferred hereby had not expired.

All resolutions were put to the vote on a poll the results of the poll are as follows:

 
Resolution                                       For      Against     Vote 
                                                                     Withheld 
    To receive the Directors' Report 
     and Financial Statements together 
1    with the Independent Auditor's Report    4,241,214      -        2,866 
    ---------------------------------------  -----------  --------  --------- 
    To approve the Directors' Remuneration 
3    Policy                                    4,173,794   45,911    24,375 
    ---------------------------------------  -----------  --------  --------- 
 
      To receive and approve the Directors' 
4     Remuneration Report                     4,173,794    45,911    24,375 
    ---------------------------------------  -----------  --------  --------- 
 
5   To appoint BDO LLP as auditors             4,218,691   11,410    24,375 
    ---------------------------------------  -----------  --------  --------- 
 
      To authorise the Directors to fix 
6     the remuneration of the auditors        4,213,557    2,866     27,657 
    ---------------------------------------  -----------  --------  --------- 
 
7   To re-elect David Till as a director.      4,224,956   19,124       - 
    ---------------------------------------  -----------  --------  --------- 
 
      To authorise the allotment and issue 
8     of B Ordinary shares under the DIS      4,179,657    21,755    42,668 
    ---------------------------------------  -----------  --------  --------- 
 
      To disapply pre-emption rights for 
9     DIS allotments                          4,107,964    93,448    42,668 
    ---------------------------------------  -----------  --------  --------- 
 
      To authorise the Directors to buy 
10    back shares                              4,188,481    12,931   42,668 
    ---------------------------------------  -----------  --------  --------- 
 

For further details about the Company please either visit the Company's website: www.pembrokevct.com

or contact:

Doreen Nic

The City Partnership (UK) Limited (Company Secretary)

enquiries@city.uk.com

Andrew Wolfson / Chris Lewis

Pembroke Investment Managers LLP (Manager)

+44 20 7766 6900

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END

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October 01, 2020 04:12 ET (08:12 GMT)

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