Foresight Technology VCT PLC AGM Results and Future Engagement
Foresight Technology VCT PLC AGM Results and Future Engagement
FORESIGHT TECHNOLOGY VCT PLC (the “Company”) is excited to announce the results from its recent Annual General Meeting (AGM). The board of directors, known as the Board, expressed satisfaction that all resolutions were successfully passed during the AGM.
AGM Results Overview
At the meeting, all presented resolutions were approved, showcasing strong shareholder support. The resolutions discussed included vital company policies, director remuneration, and the appointment of auditors.
Detailed Resolution Results
Here's a summary of the resolutions and their results:
- Resolution 1: Approval of the Report and Accounts for the year ended 31 March 2023 - Votes For: 944,217 (100%)
- Resolution 2: Approval of the Directors' Remuneration Policy - Votes For: 717,534 (95.84%)
- Resolution 3: Approval of the Directors' Remuneration Report - Votes For: 915,663 (97.01%)
- Resolution 4: Re-election of Ernie Richardson as a Director - Votes For: 944,215 (100%)
- Resolution 5: Re-election of Tim Dowlen as a Director - Votes For: 918,404 (97.27%)
- Resolution 6: Re-election of Carol Thompson as a Director - Votes For: 933,585 (98.87%)
- Resolution 7: Reappointment of Deloitte LLP as auditor - Votes For: 741,616 (78.54%)
- Resolution 8: Authority to Allot Shares - Votes For: 943,912 (100%)
- Resolution 9: Disapplication of Pre-emption Rights - Votes For: 734,131 (98.15%)
- Resolution 10: Authority for Market Purchases of Own Shares - Votes For: 934,170 (98.97%)
Shareholder Engagement Following the Vote
While all resolutions were approved, the Board noted a significant percentage (over 20%) of votes against Resolution 7. The Board values the opinions of all shareholders and is committed to understanding the reasons behind this dissent. To this end, they will initiate a dialogue with investors pertaining to this resolution, aiming to foster transparency and address any concerns.
Looking Ahead
The Board anticipates providing an update on this engagement process within six months. This initiative underscores Foresight Technology VCT PLC's commitment to maintaining an open line of communication with its investors and promoting shareholder collaboration.
Contact Information
For any questions or additional information, shareholders and interested parties are encouraged to reach out:
Company Secretary
Foresight Group LLP
Contact: Gary Fraser
Phone: 0203 667 8181
Frequently Asked Questions
What were the main outcomes of the AGM for Foresight Technology VCT PLC?
All resolutions were passed successfully, indicating strong shareholder support for the Company's initiatives and governance.
Why was there a significant vote against Resolution 7?
The Board recognized that over 20% of votes were against Resolution 7 and aims to engage with shareholders to understand the reasons behind this dissent.
When can shareholders expect updates on engagement with investors?
The Board plans to provide an update on the shareholder engagement process within six months.
Who should shareholders contact for more information?
Shareholders can contact Gary Fraser at Foresight Group LLP for any inquiries regarding the AGM results and future initiatives.
What is Foresight Technology VCT PLC's approach to shareholder communication?
The Company emphasizes transparency and values input from its shareholders, actively seeking to understand and address their concerns.
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