Decoding Results from Octopus Titan VCT plc's AGM Insights
Octopus Titan VCT plc Annual General Meeting Outcomes
Overview of the Meeting
Octopus Titan VCT plc has recently released the results of its Annual General Meeting, demonstrating a strong commitment from shareholders. This meeting served as a crucial platform for discussing the company’s direction and performance.
Resolution Voting Results
During the meeting, all resolutions were carried on a show of hands, reflecting the confidence shareholders have in the current direction of the company. Proxy votes were submitted for all resolutions, and detailed results are summarized below:
Resolution Breakdown
The following resolutions were presented:
- Resolution 1: A total of 13,802,443 votes were cast in favor (approximately 85.13%). Against votes totaled 1,037,030, which is about 6.40% of the total.
- Resolution 2: Votes supporting this resolution were 10,835,952, constituting 68.40%, while 3,604,280 opposed it.
- Resolution 3: Received 11,222,697 votes in favor (70.03%), with 3,467,021 against.
- Resolution 4: This resolution had 11,180,846 votes for it (69.70%) compared to 3,463,732 against it.
- Resolution 5: Garnered support from 13,266,938 votes (81.99%), while 1,511,678 votes opposed it.
- Resolution 6: This was approved with 13,137,065 votes (82.17%) against 1,434,398 opposing votes.
- Resolution 7: Received 13,094,992 in favor (81.95%), against 1,475,530 votes.
- Resolution 8: With 12,801,663 votes supporting it (79.43%), it faced 1,907,178 against.
- Resolution 9: Gained 12,908,271 in favor (80.70%), and opposed votes were 1,678,751.
- Resolution 10: Approved with 14,039,693 votes for it (85.83%), while objection votes were 910,422.
Shareholder Engagement
It's noteworthy that, based on an issued share capital of 1,647,726,059 ordinary shares, 1% of shares in issue lodged valid proxies for this meeting, indicating some level of concern or interest among shareholders.
Post-Meeting Actions
The Board has acknowledged the significant percentage of votes against resolutions concerning the approval of the Directors’ Remuneration report as well as the re-elections of Jane O’Riordan and Lord Rockley. In response, the Board plans to reach out to shareholders who opposed these resolutions to better understand their perspectives.
Future Steps
In line with UK Listing Rule 6.4.2, the company will submit all resolutions passed to the UK Listing Authority, enabling transparency and auditing of the process. This document will also be accessible through the National Storage Mechanism for inspection.
Contact Information
For further inquiries, stakeholders can reach out to:
Rachel Peat
Octopus Company Secretarial Services Limited
Tel: +44 (0)80 0316 2067
Frequently Asked Questions
What were the main resolutions passed during the AGM?
All proposed resolutions were successfully carried, reflecting shareholders' support.
How many shareholders engaged through proxy voting?
Approximately 1% of the shares lodged valid proxies for the meeting.
What actions will the Board take following the AGM?
The Board plans to engage with shareholders who voted against certain resolutions to understand their concerns better.
Where can I find the resolutions passed at the meeting?
The resolutions will be submitted to the UK Listing Authority and made available for public inspection shortly.
How can I contact the company for further information?
You can reach Rachel Peat at Octopus Company Secretarial Services Limited via the provided phone number.
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