Triple Point VCT 2011 PLC Result of Annual General Meeting (9749E)

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RNS Number : 9749E

Triple Point VCT 2011 PLC

12 July 2021

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       %       Votes      %       Total       Total        Votes 
                                For                Against            votes        votes      Withheld* 
                                                                     validly       cast 
                                                                       cast        as % 
                                                                                 of issued 
                                                                                   share 
                                                                                  capital 
      To receive 
       and adopt the 
       Annual Report 
       and Accounts 
       of the Company 
       for the year 
       ended 28 February 
 1     2021.                 3,800,534   100.00      0       0.00   3,800,534     10.14       749,821 
     ---------------------  ----------  -------  ---------  -----  ----------  -----------  ----------- 
      To approve 
       the Directors' 
       Remuneration 
 2     Report.               3,660,905   98.43     58,349    1.57   3,719,254      9.92       831,101 
     ---------------------  ----------  -------  ---------  -----  ----------  -----------  ----------- 
      To re-elect 
       Jane Owen as 
 3     a Director.           3,723,131   99.39     22,823    0.61   3,745,954      9.99       804,401 
     ---------------------  ----------  -------  ---------  -----  ----------  -----------  ----------- 
      To re-elect 
       Timothy Clarke 
 4     as a Director.        3,715,153   99.18     30,801    0.82   3,745,954      9.99       804,401 
     ---------------------  ----------  -------  ---------  -----  ----------  -----------  ----------- 
      To re-elect 
       Chad Murrin 
 5     as a Director.        3,715,153   99.18     30,801    0.82   3,745,954      9.99       804,401 
     ---------------------  ----------  -------  ---------  -----  ----------  -----------  ----------- 
      To re-appoint 
       BDO LLP as 
       Auditors of 
       the Company 
       and to authorise 
       the Audit Committee 
       to determine 
       the Auditor's 
 6     remuneration.         3,739,689   99.83     6,265     0.17   3,745,954      9.99       804,401 
     ---------------------  ----------  -------  ---------  -----  ----------  -----------  ----------- 
      To authorise 
       the Directors 
 7     to allot shares.      3,731,461   99.47     19,699    0.53   3,751,160     10.01       799,195 
     ---------------------  ----------  -------  ---------  -----  ----------  -----------  ----------- 
      To divest of 
       the remaining 
       B Share Class 
       assets with 
       the ultimate 
       intention to 
       wind-down and 
       cancel the 
 8     B Share Class.        4,500,981   98.91     49,374    1.09   4,550,355     12.14          0 
     ---------------------  ----------  -------  ---------  -----  ----------  -----------  ----------- 
      To disapply 
       pre-emption 
 9     rights.               3,534,713   98.65     48,505    1.35   3,583,218      9.56       967,137 
     ---------------------  ----------  -------  ---------  -----  ----------  -----------  ----------- 
      To authorise 
       the Company 
       to purchase 
 10    its own shares.       3,603,760   96.35    136,470    3.65   3,740,230      9.98       810,125 
     ---------------------  ----------  -------  ---------  -----  ----------  -----------  ----------- 
      To authorise 
       the calling 
       of general 
       meetings, other 
       than an annual 
       general meeting, 
       on not less 
       than 14 clear 
 11    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   Tel: [phone] 
   LLP 
   (Investment Manager) 
  Ian McLennan 
   Belinda Thomas 
 
 

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.

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July 12, 2021 10:58 ET (14:58 GMT)