Result of AGM

28 JULY 2023

NORTHERN 2 VCT PLC

RESULT OF ANNUAL GENERAL MEETING

Northern 2 VCT PLC (“the Company”) announces that at the Annual General Meeting held on 28 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 David Gravells, Mr Simon Devonshire, Ms Cecilia McAnulty and Ms Ranjan Ramparia.

Mr Frank Neale 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/n2vct/.

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 year ended 31 March 2023 together with the strategic report, Directors’ report and independent auditor’s report thereon 11,134,772 336,957 50,295 29,934
2 To approve and declare a final dividend of 1.3p per share in respect of the year ended 31 March 2023 11,240,527 276,749 18,107 16,575
3 To approve the Directors’ remuneration report in respect of the year ended 31 March 2023 other than the part of such report containing the Directors’ remuneration policy 10,149,396 336,957 732,278 333,327
4 To approve the Directors’ remuneration policy, as set out on page 44 of the Company’s annual report and financial statements for the year ended 31 March 2023 10,106,580 336,957 786,886 321,535
5 To re-elect Mr D P A Gravells as a director 10,541,128 353,642 549,596 107,592
6 To re-elect Mr S P Devonshire as a director 10,326,435 360,986 761,549 102,988
7 To re-elect Ms C A McAnulty as a director 10,589,836 360,986 525,147 75,989
8 To re-elect Ms R K Ramparia as a director 10,231,959 360,986 856,025 102,988
9 To re-appoint Mazars LLP as independent auditor 10,802,358 336,957 260,785 151,858
10 To authorise the audit committee to fix the remuneration of the independent auditor 10,994,974 336,957 184,253 35,774
11 To authorise the Directors to allot shares pursuant to Section 551 of the Companies Act 2006 for the purposes of the Offer 10,099,758 340,410 727,205 384,585
12 To generally authorise the Directors to allot shares pursuant to Section 551 of the Companies Act 2006 10,413,687 315,516 770,096 52,659
13 To disapply Section 561(1) of the Companies Act 2006 in relation to allotments of equity securities for the purposes of the Offer 9,308,510 314,878 1,246,329 682,241
14 To disapply Section 561(1) of the Companies Act 2006 in relation to certain other allotments of equity securities 9,625,222 307,478 1,212,047 407,211
15 To authorise the Company to make market purchases of ordinary shares in accordance with Section 701 of the Companies Act 2006 11,011,586 314,878 196,864 28,630
16 To amend the articles of association to extend the life of the Company 10,182,629 339,048 992,663 37,618
17 To approve the cancellation of the share premium account arising following the issue of Ordinary Shares pursuant to the Offer 10,776,772 336,875 392,669 45,642

Enquiries:

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

Website: www.mercia.co.uk/vcts

The contents of the Mercia Asset Management PLC website and the contents of any website accessible from hyperlinks on the Mercia Asset Management PLC website (or any other website) are not incorporated into, nor form part of, this announcement.


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