Fuel Ventures VCT PLC
23 September 2026
Fuel Ventures VCT plc (the "Company")
LEI: 984500B43BFE4DF77187
Results of the Annual General Meeting
At the Annual General Meeting of the Company held at noon on Wednesday 23 September 2026, 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 year ended 31
March 2026 together with the Independent Auditor's Report thereon.
2. To receive and approve the Directors' Remuneration Report for the year ended 31 March 2026 other
than the part of such report containing the Directors' Remuneration Policy.
3. 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 2027 at which financial statements are laid
before the Company.
4. To authorise the directors to fix the remuneration of the auditor.
5. To re-elect Andrew Whitehouse as a director of the Company in accordance with the Articles of
Association.
6. That, pursuant to article 151 of the Company's articles of association ("Articles"), the Company adopt a
dividend reinvestment scheme on the terms and conditions available from the Company's website
(https://www.fuel.ventures/vct-fund) and that the directors be authorised to offer holders of ordinary
shares of 1 pence each in the capital of the Company ("Share" or "Shares") the right to receive Shares,
credited as fully paid, instead of cash in respect of the whole (or some part as may be determined by the
directors from time to time) of any dividend declared in the period commencing of the date of this
Resolution 6 and ending at the conclusion of the Company's next annual general meeting following the
date of the passing of this resolution pursuant to the Company's dividend reinvestment scheme.
7. That, subject to the passing of Resolution 6 and in accordance with article 151 of the Articles and in
addition to existing authorities, the directors of the Company be and are hereby generally and
unconditionally authorised in accordance with section 551 of the Companies Act 2006 (the "Act") to
exercise all the powers of the Company to allot and issue the following Shares pursuant to the terms and
conditions of the dividend reinvestment scheme adopted by the Company and in connection with any
dividend declared or paid in the period commencing on the date of this Resolution 7 and ending at the
conclusion of the Company's next annual general meeting (unless previously renewed, varied or revoked
by the Company in general meeting):
· Shares up to an aggregate nominal amount representing 10% of the issued share capital from time to time (approximately 1.3m Shares at the date of this notice).
8. 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
276% of the issued share capital of the Company as at 24 July 2026, being the latest practical date prior
to publication of this document, provided that the authority conferred by this Resolution 8 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 8, whichever is the later (unless previously renewed, varied or
revoked by the Company in general meeting).
Special Resolutions
9. That, in accordance with section 570(1) of the Act, the directors be and are hereby given power to allot
or make offers or agreements to allot equity securities (as defined in section 560 of the Act) for cash
pursuant to the authorities conferred by Resolution 7 above as if section 561 of the Act did not apply to
any such allotment, and so that:
· Reference to the allotment in this Resolution shall be construed with section 560 of the Act; and
· The power conferred by this Resolution shall expire at the conclusion of the Company's next annual general meeting following the passing of Resolution 7 (unless previously renewed, varied or revoked by the Company in general meeting) save that the Company may prior to such expiry make offers or agreements which would or might require equity securities to be allotted after the expiry of the said power and the directors may allot equity securities of such offers or agreements notwithstanding the expiry of such power.
10. 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 8 above as if Section 561 of the Act did not apply to such allotments, provided that
the power provided 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).
11. That, subject to the approval of the High Court of Justice, the amount standing to the credit of the share
premium account of the Company, at the date the court order is made confirming such cancellation, be
and is hereby cancelled and the amount by which the account is so reduced be credited to a reserve of
the Company.
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 next 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 Report |
99.43 |
0.57 |
0.00 |
|
3. |
To appoint BDO LLP as auditor |
99.43 |
0.57 |
0.00 |
|
4. |
To authorise the directors to fix the Auditor's remuneration |
100.00 |
0.00 |
0.00 |
|
5. |
To re-elect Andrew Whitehouse as a director of the Company |
100.00 |
0.00 |
0.00 |
|
6. |
To authorise the Company to adopt a dividend reinvestment scheme |
100.00 |
0.00 |
0.00 |
|
7. |
To authorise the Directors to allot shares pursuant to the Company's dividend reinvestment scheme |
100.00 |
0.00 |
0.00 |
|
8. |
To authorise the Directors to allot shares |
100.00 |
0.00 |
0.00 |
|
|
||||
|
Special Resolutions |
||||
|
9. |
To waive pre-emption rights in respect of the allotment of shares pursuant to the Company's dividend reinvestment scheme |
99.43 |
0.57 |
0.00 |
|
10. |
To waive pre-emption rights in respect of the allotment of shares |
99.43 |
0.57 |
0.00 |
|
11. |
To cancel the Company's share premium account |
100.00 |
0.00 |
0.00 |
|
12. |
To authorise the Company to make market purchases of its own shares |
98.35 |
1.65 |
0.00 |
For further information, please contact:
James D'Mello
Fuel Ventures VCT plc
Robin Smeaton
The City Partnership (UK) Limited (Company Secretary)
Keith Lassman
Howard Kennedy Corporate Services LLP
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