Albion Ven Cap Trust Gm Statement
31 August 2019 - 3:30AM
UK Regulatory
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: 020 7601 1850
(END) Dow Jones Newswires
August 30, 2019 13:30 ET (17:30 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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