30th Aug 2019 19:00
(Alliance News) - Albion Venture Capital Trust PLC on Friday said it will engage with shareholders after 30% of votes opposed a motion to change the company's management agreement.
At a general meeting on Wednesday, nearly a third of shareholders voted against a proposal to introduce a new performance incentive and reduce total expenses.
Albion said: "more than 20% of shareholders voted against the resolution. In accordance with UK Corporate Governance, the board will reflect carefully on feedback from shareholders to understand more fully the reasons for the opposition to this resolution. An update on the review process will be made in accordance with the UK Corporate Governance Code within six months of the meeting."
Shares in closed 1.0% lower at 72.00 pence each in London on Friday.
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Albion Venture