Result of AGM

21 JULY 2023

NORTHERN VENTURE TRUST PLC

RESULT OF ANNUAL GENERAL MEETING

Northern Venture Trust PLC (“the Company”) announces that at the Annual General Meeting held on 21 July 2023 all of the resolutions set out in the notice of the meeting were duly passed by shareholders.

The resolutions included those to re-elect as directors Mr Simon Constantine, Mr Richard Green, Ms Deborah Hudson and Mr David Mayes.

Mr Timothy Levett did not stand for re-election at the AGM and has resigned as director of the Company at the conclusion of the AGM.

In accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, a copy of the resolutions proposed and passed has been submitted to the National Storage Mechanism and will also be available from: www.mercia.co.uk/vcts/nvt/.

Details of proxy voting on the resolutions put to shareholders at the Annual General Meeting are as follows:

Number Resolution For Discretionary Against Vote Withheld
1 To receive and approve the Company’s annual report and financial statements for the period ended 31 March 2023 together with the strategic report, Directors’ report and independent auditor’s report thereon 10,314,240 126,799 33,019 19,168
2 To approve and declare a final dividend of 2.0p per share in respect of the period ended 31 March 2023 10,333,299 87,476 53,283 19,168
3 To approve the Directors’ remuneration report in respect of the period ended 31 March 2023 other than the part of such report containing the Directors’ remuneration policy 9,371,209 126,799 691,575 303,643
4 To re-elect Mr S J Constantine as a director 9,659,830 152,218 597,809 83,369
5 To re-elect Mr R J Green as a director 9,657,488 152,218 539,071 144,449
6 To re-elect Mr D A Mayes as a director 9,684,560 152,218 496,336 160,112
7 To re-elect Ms D N Hudson as a director 9,769,903 152,218 413,915 157,190
8 To re-appoint Mazars LLP as independent auditor 9,920,858 196,162 160,161 216,045
9 To authorise the audit committee to fix the remuneration of the independent auditor 10,212,404 152,218 109,436 19,168
10 To authorise the Directors to allot shares pursuant to Section 551 of the Companies Act for the purposes of the Offer 9,957,434 126,799 189,825 219,168
11 To generally authorise the Directors to allot shares pursuant to Section 551 of the Companies Act 2006 10,100,101 119,834 203,264 70,027
12 To disapply Section 561(1) of the Companies Act 2006 in relation to allotments of equity securities for the purposes of the Offer 9,343,765 126,799 689,204 333,458
13 To disapply Section 561(1) of the Companies Act 2006 in relation to certain other allotments of equity securities 9,513,383 119,834 683,116 176,893
14 To authorise the Company to make market purchases of ordinary shares in accordance with Section 701 of the Companies Act 2006 10,195,986 126,799 117,637 52,804
15 To amend the articles of association to extend the life of the Company 9,912,110 126,799 394,826 37,868
16 To approve the cancellation of the share premium account arising following the issue of Ordinary Shares pursuant to the Offer 10,150,709 126,799 147,571 68,147

Enquiries:

Sarah Williams / James Sly, Mercia Fund Management Limited – 0330 223 1430

Website: www.mercia.co.uk/vcts

Neither the contents of the Mercia Asset Management PLC website, nor the contents of any website accessible from hyperlinks on the Mercia Asset Management PLC website (or any other website), are incorporated into, or form part of, this announcement.


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