TIDMFTSV

7 July 2023

Foresight Solar & Technology VCT plc

GM Statement and Share Redesignation

The Board of Foresight Solar & Technology VCT plc (the "Company") is pleased to announce that at the General Meeting held on 5 July 2023 and the Class Meetings of the Company held on 5 July 2023 which were adjourned to 6 July 2023, the sole resolution proposed at each meeting was duly passed on a show of hands.

The composite resolution proposed at the General Meeting approved, inter alia, the amendments to the Company's articles of association, the redesignation of a number of Ordinary Shares as FWT Shares and Deferred Convertible Preference Shares and the pooling of the residual assets of the Ordinary Shares fund with the assets of the FWT Shares fund. The passing of this composite resolution was approved by the separate Ordinary Share and FWT Share classes at the respective Class Meetings.

The proxy voting was as follows:

General Meeting

 
                                 Votes For 
Resolution              (or at Chairman's discretion)  Votes Against 
---------------------  ------------------------------  ------------- 
Composite Resolution                2,535,743 (99.8%)   5,150 (0.2%) 
---------------------  ------------------------------  -------------

Ordinary Share Class Meeting

 
                                   Votes For 
Resolution                (or at Chairman's discretion)  Votes Against 
-----------------------  ------------------------------  ------------- 
Approval of resolution 
 at General Meeting                  1,735,657 (100.0%)       0 (0.0%) 
-----------------------  ------------------------------  -------------

FWT Share Class Meeting

 
                                   Votes For 
Resolution                (or at Chairman's discretion)  Votes Against 
-----------------------  ------------------------------  ------------- 
Approval of resolution 
 at General Meeting                      346,267 (100%)       0 (0.0%) 
-----------------------  ------------------------------  -------------

Further to the circular published by the Company on 8 June 2023 (the "Circular"), the 34,593,623 Ordinary Shares currently in issue shall shortly be redesignated as 547,034 FWT Shares and 34,046,589 Deferred Convertible Preference Shares. CREST accounts are expected to be credited for revised holdings of new FWT Shares by 10 July 2023 with share certificates dispatched for new holdings of Ordinary Shares by 24 July 2023.

The Company will apply to the FCA for the new FWT Shares to be admitted to the Official List of the FCA and also to the London Stock Exchange for such FWT Shares to be admitted to trading on its market for listed securities. The Company will inform the FCA of the redesignation of the Ordinary Shares into FWT Shares and Deferred Convertible Preference Shares and, subsequently, the empty Ordinary Share class will be removed from the Official List in due course.

For further information please contact:

   Gary Fraser, Foresight Group:                            020 3667 8100

(END) Dow Jones Newswires

July 07, 2023 06:25 ET (10:25 GMT)

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