Fuel Ventures VCT plc (the "Company")
Results of the Annual General Meeting
At the Annual General Meeting of the Company held at noon on Monday 15 September 2025, the following resolutions were duly passed on a show of hands.
Ordinary Resolutions
1. To receive the Directors' Report and Financial Statements of the Company for the period ended 31
March 2025 together with the Independent Auditor's Report thereon.
2. To receive and approve the Directors' Remuneration Policy contained in the Director's Remuneration
Report for the period ended 31 March 2025.
3. To receive and approve the Directors' Remuneration Report for the period ended 31 March 2025 other
than the part of such report containing the Directors' Remuneration Policy.
4. To appoint BDO LLP as auditor of the Company from the conclusion of the AGM until the
conclusion of the next AGM of the Company to be held in 2026 at which financial statements are laid
before the Company.
5. To authorise the directors to fix the remuneration of the auditor.
6. To elect Andrew Whitehouse as a director of the Company in accordance with the Articles of
Association.
7. To elect Charles Elliott as a director of the Company in accordance with the Articles of Association.
8. To elect Marc Rubinstein as a director of the Company in accordance with the Articles of Association.
9. To elect Stuart Knight as a director of the Company in accordance with the Articles of Association.
10. That, the directors be and hereby are generally and unconditionally authorised in accordance with
Section 551 of the Companies Act 2006, as amended, (the "Act") to exercise all of the powers of the
Company to allot shares in the Company or to grant rights to subscribe for or to convert any security
into shares in the Company up to an aggregate nominal value of £350,000, representing approximately
313% of the issued share capital of the Company as at 26 June 2025, being the latest practical date prior
to publication of this document, provided that the authority conferred by this resolution 10 shall expire
at the conclusion of the Company's next Annual General Meeting or on the expiry of fifteen months
following the passing of this resolution 10, whichever is the later (unless previously renewed, varied or
revoked by the Company in general meeting).
Special Resolutions
11. That, the Directors be and hereby are empowered pursuant to Section 570(1) of the Act to allot or make
offers or agreements to allot equity securities (which expression shall have the meaning ascribed to it in
Section 560(1) of the Act) for cash pursuant to the authority given in accordance with Section 551 of the
Act by resolution 10 above as if Section 561 of the Act did not apply to such allotments, provided that
the power provided by this resolution 11 shall expire at the conclusion of the Company's next annual
general meeting or on the expiry of fifteen months following the passing of this resolution 11,
whichever is the later (unless previously renewed, varied or revoked by the Company in general
meeting).
12. That, the Company be and is hereby authorised to make one or more market purchases (within the meaning of section 693(4) of the Act) of Ordinary shares provided that:
12.1 the maximum aggregate number of Ordinary shares authorised to be purchased is an
amount equal to 14.99% of the issued Ordinary shares;
12.2 the minimum price which may be paid for an Ordinary share is their nominal value;
12.3 the maximum price which may be paid for an Ordinary share, exclusive of expenses, is an
amount equal to the higher of (i) 105% of the average of the middle market prices shown in the
quotations for an Ordinary share in the Daily Official List of the London Stock Exchange for the
five Business Days immediately preceding the day on which that Ordinary share is purchased;
and (ii) the amount stipulated by Article 5(6) of Market Abuse Regulation; and
12.4 unless renewed, the authority hereby conferred shall expire either at the conclusion of
the annual general meeting of the Company following the passing of this Resolution 12
or on the expiry of fifteen months from the passing of this Resolution 12, whichever is
the later, save that the Company may, prior to such expiry, enter into a contract to
purchase Ordinary shares which will or may be completed or executed wholly or partly
after such expiry.
Proxy votes received were:
|
|
Resolution |
For & Discretionary, % |
Against,
% |
Withheld,
% |
|
|
Ordinary Resolutions |
|
|
|
| 1. |
To receive the Directors' Report and Financial Statements and Auditor's Report |
100.00 |
0.00 |
0.00 |
| 2. |
To approve the Directors' Remuneration Policy |
100.00 |
0.00 |
0.00 |
| 3. |
To approve the Directors' Remuneration Report |
100.00 |
0.00 |
0.00 |
| 4. |
To appoint BDO LLP as auditor |
99.26 |
0.74 |
0.00 |
| 5. |
To authorise the directors to fix the Auditor's remuneration |
100.00 |
0.00 |
0.00 |
| 6. |
To elect Andrew Whitehouse as a director of the Company |
100.00 |
0.00 |
0.00 |
| 7. |
To elect Charles Elliott as a director of the Company |
100.00 |
0.00 |
0.00 |
| 8. |
To elect Marc Rubinstein as a director of the Company |
100.00 |
0.00 |
0.00 |
| 9. |
To elect Stuart Knight as a director of the Company |
100.00 |
0.00 |
0.00 |
| 10. |
To authorise the Directors to allot shares |
100.00 |
0.00 |
0.00 |
| |
|
|
|
|
| |
Special Resolutions |
|
|
|
| 11. |
To waive pre-emption rights in respect of the allotment of shares |
100.00 |
0.00 |
0.00 |
| 12. |
To authorise the Company to make market purchases of its own shares |
97.78 |
2.22 |
0.00 |
For further information, please contact :
Stan Williams
Fuel Ventures VCT plc
Robin Smeaton
The City Partnership (UK) Limited (Company Secretary)
Keith Lassman
Howard Kennedy Corporate Services LLP
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