Thames Ventures VCT 1 plc Announces AGM Results
THAMES VENTURES VCT 1 PLC
LEI: 213800R88MRC4Y3OIW86
GM RESULTS STATEMENT
The Board of Thames Ventures VCT 1 plc (“the Company”) enthusiastically announces the results from the recent General Meeting. Held on a date in November 2024, the meeting confirmed that all resolutions were overwhelmingly passed. Such support reflects the confidence and engagement of our shareholders.
Voting Outcomes
In a show of hands, the voting results demonstrated robust backing for the Company’s strategic initiatives. Here’s a detailed look at how each resolution fared during the AGM:
Resolution 1: Acquisition of Thames Ventures VCT 2 plc Assets
With a commanding majority, the acquisition of Thames Ventures VCT 2 plc’s assets and liabilities received 13,666,309 votes in favor, equating to 96%. Only 551,492 votes were cast against it, showcasing a clear mandate from our shareholders.
Resolution 2: Name Change to Foresight Ventures VCT plc
The proposal to change the Company’s name to Foresight Ventures VCT plc was also met with enthusiasm, garnering 13,787,794 votes (97% in favor) while only 453,376 votes opposed the change. This new identity aligns the company with its future vision.
Resolution 3: Amendment of Performance Incentive Agreement
Approval for the deed of amendment and restatement of the performance incentive agreement saw similar success, with 12,076,146 votes supporting it, which accounts for 88%. The opposing votes totaled 1,571,894, demonstrating thorough shareholder engagement.
Resolution 4: Redesignation of Ordinary Shares
The redesignation of the ordinary shares to deferred shares was embraced positively with 94% supporting the change. The response reaffirmed our commitment to enhancing shareholder value.
Resolution 5: Authority to Allot Shares
The final resolution, relating to the authority to allot shares and disapplication of pre-emption rights, commanded 97% approval with 13,759,212 votes, indicating strong shareholder trust in the Company’s strategic initiatives.
Future Directions for Thames Ventures VCT 1 plc
The results from this AGM point toward a promising future for Thames Ventures VCT 1 plc. With the approval of resolutions that explore new acquisitions, a refreshed name that encapsulates our evolving identity, and a solid foundation for future capital raising, we are well-positioned for growth.
Our dedicated team is committed to leveraging these changes to enhance shareholder value and achieve our strategic objectives. Stakeholders can expect continual updates as we implement the decisions made during this meeting.
Contact Information
For those interested in learning more about our initiatives or seeking further information, please reach out to:
Company Secretary
Foresight Group LLP
Contact: Stephen Thayer
Tel: 0203 667 8100
Investor Relations
Foresight Group LLP
Contact: Andrew James
Tel: 0203 667 8181
Frequently Asked Questions
What were the main outcomes of the AGM for Thames Ventures VCT 1 plc?
The AGM saw all resolutions passed, demonstrating strong shareholder support for future initiatives, including the acquisition of assets and a name change.
How did shareholders vote on the acquisition of Thames Ventures VCT 2 plc assets?
Shareholders overwhelmingly supported the acquisition, with 96% voting in favor, indicating strong confidence in the decision.
Why did Thames Ventures VCT 1 plc change its name to Foresight Ventures VCT plc?
The name change reflects the Company’s strategic focus and vision moving forward, aligning with its future growth objectives.
What does the approval of the performance incentive agreement amendment mean?
This approval is crucial for aligning the interests of management and shareholders, thus fostering a commitment to enhancing company performance.
How can investors contact Thames Ventures VCT 1 plc for more information?
Investors can contact the Company Secretary or Investor Relations at the Foresight Group LLP via the provided telephone numbers for inquiries.
