Thames Ventures VCT 2 PLC's Annual General Meeting Results
Thames Ventures VCT 2 PLC AGM Highlights
THAMES VENTURES VCT 2 PLC
LEI: 21380035MV1VRYEXPR95
The Board of Thames Ventures VCT 2 plc is proud to announce positive results from the recent Annual General Meeting (AGM). All resolutions were successfully passed with a majority vote, showcasing the strong support from shareholders.
Voting Outcomes Overview
The voting results indicate robust engagement among shareholders. Here’s a summary of the resolutions and their respective voting results:
Summary of Resolutions
1. **Receipt of Reports:** The resolution to accept the Report and Accounts for the previous financial year garnered a supportive 84% vote. The shareholders acknowledged the efforts shown in the reports and the independent auditor's findings.
2. **Directors’ Renumeration Report:** Despite a favorable decision from 73% of votes for approving the Directors' Remuneration Report, the 27% dissent indicates a significant concern among some investors about executive compensation.
3. **Directors’ Renumeration Policy:** Voter support for the proposed remuneration policy was slightly lower, at 72%. The Board will listen closely to shareholder feedback regarding future policies.
4. **Final Dividends Approval:** Another crucial resolution concerning the approval of final dividends received an 82% vote in favor. This aligns with the company’s commitment to delivering value to shareholders.
5. **Reappointing Auditors:** The motion to reappoint BDO LLP as the auditor was passed with 82% approval, showcasing confidence in the firm’s capabilities.
Director Elections and Authority Resolutions
During the meeting, shareholders voted on multiple director re-elections.
Director Re-elections
All director re-elections, including Aubrey Brocklebank and Andrew Mackintosh, received majority support, although some directors faced notable dissent with votes against ranging from 23% to 25%. This clearly reflects some shareholder reservations concerning governance.
Authority Resolutions
Crucial authority resolutions were also passed, including those granting the company the power to allot shares and the disapplication of pre-emption rights. These passed despite some dissenting voices highlighting shareholder caution.
Future Engagement with Shareholders
The Board acknowledges the significant number of votes against certain resolutions, particularly those associated with director remuneration. Understanding shareholders’ perspectives is crucial, and the Board remains committed to open dialogue regarding any concerns raised during voting.
In response to the evident dissatisfaction, the Board plans to engage further with shareholders and will provide updates on these discussions in a timely manner.
Company Contact Information
For inquiries, shareholders and interested parties can reach out to the company's contacts:
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 major resolutions voted on at the AGM?
The major resolutions included the acceptance of reports, approval of director remuneration, declaration of final dividends, and authority to allot shares.
What was the outcome for the Directors’ Remuneration Report?
The Directors’ Remuneration Report received 73% votes in favor, but 27% against reflects shareholder concerns.
How will the company address shareholder dissent?
The Board intends to engage directly with shareholders to understand their concerns and will update them within six months.
Who can shareholders contact for more information?
Shareholders can contact Stephen Thayer, Company Secretary, or Andrew James, Investor Relations, at Foresight Group LLP.
What is the importance of the AGM for shareholders?
The AGM offers shareholders the opportunity to vote on crucial company matters, participate in discussions, and influence corporate governance.
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