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LONDON - Guinness VCT plc shareholders approved all resolutions at Tuesday’s general meeting, including the establishment of a dividend reinvestment scheme allowing investors to receive new shares instead of cash dividends.
The meeting, held at 3:00 pm on Tuesday, saw shareholders pass four resolutions through a show of hands, according to a company statement.
Shareholders approved the payment of an Initial Fee to Guinness Ventures Limited under the Offer Agreement outlined in the September 12 circular. The dividend reinvestment scheme resolution passed with 835,556 proxy votes in favor and 4,889 against.
The board received authorization to allot ordinary shares up to an aggregate nominal value of £12,000 in connection with the dividend reinvestment scheme, representing approximately 10% of the company’s issued share capital as of September 12. This authority will expire at the next annual general meeting or 15 months from the resolution date, whichever comes first.
A special resolution waiving pre-emption rights for these share allotments was also approved, with 825,566 proxy votes in favor and 14,879 against.
The dividend reinvestment scheme will allow shareholders to receive ordinary shares, credited as fully paid, instead of cash dividends for all or part of their holdings, based on terms determined by the directors.
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