Foresight Technology VCT PLC AGM Results and Future Engagement
FORESIGHT TECHNOLOGY VCT PLC (the “Company”) is pleased to share the results from its recent Annual General Meeting (AGM). The board of directors, referred to as the Board, expressed their contentment that all resolutions were successfully passed during the meeting.
Overview of AGM Results
During the meeting, every resolution on the agenda received approval, reflecting robust support from shareholders. The topics discussed encompassed important company policies, director pay, and auditor appointments.
Summary of Resolution Outcomes
Here’s a breakdown 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 After the Vote
While all resolutions received approval, the Board noted that more than 20% of votes were against Resolution 7. They appreciate all shareholder views and are eager to understand the reasons behind this opposition. To facilitate this understanding, they plan to reach out to investors regarding this resolution, fostering transparency and addressing any concerns.
Looking Ahead
The Board aims to update shareholders on this engagement process within six months. This effort illustrates Foresight Technology VCT PLC's dedication to keeping communication open with investors and encouraging collaborative input from shareholders.
Contact Information
If you have any questions or need more information, shareholders and interested parties are invited to get in touch:
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 passed successfully, showing strong shareholder backing for the Company's plans and governance practices.
Why was there a notable vote against Resolution 7?
The Board observed that over 20% of the votes were against Resolution 7 and intends to engage with shareholders to uncover the reasons for this dissent.
When can shareholders expect updates on engagement with investors?
The Board intends to share an update on the shareholder engagement process in the next six months.
Who should shareholders contact for more information?
Shareholders can reach out to Gary Fraser at Foresight Group LLP for any questions concerning the AGM results and future plans.
What is Foresight Technology VCT PLC's strategy for communicating with shareholders?
The Company prioritizes transparency and values feedback from shareholders, actively seeking to understand and respond to their concerns.
