The Biotech Growth Trust PLC - Result of AGM
(the "Company")
Results of the Annual General Meeting
The Board is pleased to announce that at the Annual General Meeting (AGM) of the Company held on Thursday,
______________________________________________________________________________ | | | | | | |Votes | |Resolutions |Votes For|% |Votes Against|% |Total Votes Cast| | | | | | | | |Withheld*| |_______________|_________|_____|_____________|_____|________________|_________| |1. To receive | | | | | | | |the audited | | | | | | | |financial | | | | | | | |statements and | | | | | | | |the Report of |7,975,685|99.92|6,651 |0.08 |7,982,336 |667,777 | |the Directors | | | | | | | |for the year | | | | | | | |ended 31 March | | | | | | | |2025. | | | | | | | |_______________|_________|_____|_____________|_____|________________|_________| |2. To approve | | | | | | | |the Directors' | | | | | | | |Remuneration |7,907,296|99.37|49,832 |0.63 |7,957,128 |692,985 | |Report for the | | | | | | | |year ended 31 | | | | | | | |March 2025. | | | | | | | |_______________|_________|_____|_____________|_____|________________|_________| |3. To re-elect | | | | | | | |Hamish Baillie |7,938,961|99.52|38,387 |0.48 |7,977,348 |672,765 | |as a Director | | | | | | | |of the Company.| | | | | | | |_______________|_________|_____|_____________|_____|________________|_________| |4. To re-elect | | | | | | | |Geoff Hsu as a |5,969,910|99.29|42,878 |0.71 |6,012,788 |2,637,325| |Director of the| | | | | | | |Company. | | | | | | | |_______________|_________|_____|_____________|_____|________________|_________| |5.. To re-elect| | | | | | | |Dr Nicola | | | | | | | |Shepherd as a |7,929,461|99.36|51,295 |0.64 |7,980,756 |669,357 | |Director of the| | | | | | | |Company. | | | | | | | |_______________|_________|_____|_____________|_____|________________|_________| |6. To re-elect | | | | | | | |Roger Yates as |7,937,295|99.50|40,053 |0.50 |7,977,348 |672,765 | |a Director of | | | | | | | |the Company. | | | | | | | |_______________|_________|_____|_____________|_____|________________|_________| |7. To elect | | | | | | | |Julie Tankard |7,932,765|99.40|47,991 |0.60 |7,980,756 |669,357 | |as a Director | | | | | | | |of the Company.| | | | | | | |_______________|_________|_____|_____________|_____|________________|_________| |8. To | | | | | | | |re-appoint BDO | | | | | | | |LLP as auditor | | | | | | | |and to | | | | | | | |authorise the |6,884,315|99.71|20,273 |0.29 |6,904,588 |1,745,525| |Audit Committee| | | | | | | |to determine | | | | | | | |their | | | | | | | |remuneration. | | | | | | | |_______________|_________|_____|_____________|_____|________________|_________| |9. To authorise| | | | | | | |the Directors | | | | | | | |to allot |7,940,791|99.47|42,610 |0.53 |7,983,401 |666,712 | |securities in | | | | | | | |the Company. | | | | | | | |_______________|_________|_____|_____________|_____|________________|_________| |10#. To | | | | | | | |disapply the | | | | | | | |rights of | | | | | | | |pre-emption in |7,923,509|99.29|56,443 |0.71 |7,979,952 |670,161 | |relation to the| | | | | | | |allotment of | | | | | | | |securities. | | | | | | | |_______________|_________|_____|_____________|_____|________________|_________| |11#. To | | | | | | | |authorise the | | | | | | | |Company to make| | | | | | | |market |7,969,302|99.86|11,324 |0.14 |7,980,626 |669,487 | |purchases of | | | | | | | |Ordinary shares| | | | | | | |in the Company.| | | | | | | |_______________|_________|_____|_____________|_____|________________|_________| |12#. (Subject | | | | | | | |to court | | | | | | | |approval) to | | | | | | | |reduce the | | | | | | | |share capital | | | | | | | |of the Company | | | | | | | |by cancelling | | | | | | | |the entire | | | | | | | |amount standing|7,968,939|99.83|13,582 |0.17 |7,982,521 |667,592 | |to the credit | | | | | | | |of the share | | | | | | | |premium account| | | | | | | |and the capital| | | | | | | |redemption | | | | | | | |reserve to | | | | | | | |create a new | | | | | | | |distributable | | | | | | | |reserve. | | | | | | | |_______________|_________|_____|_____________|_____|________________|_________| |13#. To | | | | | | | |authorise the | | | | | | | |Directors to | | | | | | | |hold General | | | | | | | |Meetings |7,935,239|99.55|35,629 |0.45 |7,970,868 |679,245 | |(excluding | | | | | | | |AGMs) on not | | | | | | | |less than 14 | | | | | | | |clear days' | | | | | | | |notice. | | | | | | | |_______________|_________|_____|_____________|_____|________________|_________| |14. That the | | | | | | | |Company should | | | | | | | |continue as an | | | | | | | |investment |6,624,050|76.68|2,014,787 |23.32|8,638,837 |11,276 | |trust for a | | | | | | | |further period | | | | | | | |of five years. | | | | | | | |_______________|_________|_____|_____________|_____|________________|_________|
# designates a Special Resolution
* Please note that a `vote withheld' is not a vote in law and is not counted in the calculation of the proportion of votes `For' and `Against' a resolution.
Any proxy votes which are at the discretion of the Chair have been included in the "For" total.
At
The voting figures will shortly be made available on the Company's website at www.biotechgt.com
In accordance with
Statement from the Board
All resolutions proposed at the AGM were duly passed. The majority received votes in favour exceeding 99%, while Resolution 14, approving the continuation of the Company as an investment trust for a further five years, secured 77% support.
In accordance with Provision 4 of the
Ahead of the Annual General Meeting, the Board proactively engaged with major shareholders and was encouraged to learn that the majority expressed support for the Company's continuation. The Board was recently made aware of concerns raised by a dissenting shareholder. The Board will engage further with them and remains committed to constructive dialogue with all shareholders. Further updates will be shared in due course.
For further information please contact:
Katherine Manson Frostrow Capital LLP - Company Secretary 020 3709 8734
