THE BIOTECH GROWTH TRUST PLC
(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, 16 July 2026 all resolutions as detailed below were duly passed by shareholders on a poll.
|
Resolutions |
Votes For |
% |
Votes Against |
% |
Total Votes Cast |
Votes Withheld*
|
|
1. To receive the audited financial statements and the Report of the Directors for the year ended 31 March 2026.
|
4,637,467 |
99.94 |
2,863 |
0.06 |
4,640,330 |
7,245 |
|
2. To approve the Directors’ Remuneration Report for the year ended 31 March 2026.
|
4,604,212 |
99.35 |
30,116 |
0.65 |
4,634,328 |
13,247 |
|
3. To approve the Directors’ Remuneration Policy for the year ended 31 March 2026. |
4,600,785 |
99.28 |
33,543 |
0.72 |
4,634,328 |
13,247 |
|
4. To re-elect Hamish Baillie as a Director of the Company.
|
4,502,925 |
97.05 |
136,646 |
2.95 |
4,639,571 |
8,004 |
|
5. To re-elect Geoff Hsu as a Director of the Company.
|
2,876,275 |
63.15 |
1,678,208 |
36.85 |
4,554,483 |
93,092 |
|
6. To re-elect Dr Nicola Shepherd as a Director of the Company.
|
4,503,066 |
97.04 |
137,553 |
2.96 |
4,640,619 |
6,956 |
|
7.
|
4,502,101 |
97.02 |
138,518 |
2.98 |
4,640,619 |
6,956 |
|
8. To re-elect Julie Tankard as a Director of the Company.
|
4,471,860 |
96.39 |
167,711 |
3.61 |
4,639,571 |
8,004 |
|
9. To elect Professor Dame Jenny Harries as a Director of the Company |
4,620,440 |
99.54 |
21,139 |
0.46 |
4,641,579 |
5,996 |
|
10.
|
4,615,646 |
99.57 |
19,839 |
0.43 |
4,635,485 |
12,090 |
|
11. To authorise the Directors to allot securities in the Company.
|
4,620,044 |
99.55 |
20,811 |
0.45 |
4,640,855 |
6,720 |
|
12#. To disapply the rights of pre-emption in relation to the allotment of securities.
|
4,595,464 |
98.98 |
47,546 |
1.02 |
4,643,010 |
4,565 |
|
13#. To authorise the Company to make market purchases of Ordinary shares in the Company.
|
4,635,422 |
99.81 |
9,007 |
0.19 |
4,644,429 |
3,146 |
|
14#. To authorise the Directors to hold General Meetings (excluding AGMs) on not less than 14 clear days’ notice.
|
4,619,937 |
99.54 |
21,139 |
0.46 |
4,641,076 |
6,499 |
|
15#. To approve amended Articles of Association.
|
4,630,463 |
99.84 |
7,434 |
0.16 |
4,637,897 |
9,678 |
# designates a Special Resolution
* 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 6.30pm on 14 July 2026 the total number of Ordinary shares of 25p each in issue and the total number of voting rights was 19,107,615.
The voting figures will shortly be made available on the Company’s website at
www.biotechgt.com
In accordance with UK Listing Rules 6.4.2 and 6.4.3, the full text of the resolutions passed has been submitted to the National Storage Mechanism and will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
. In addition, resolutions 11 to 15 will be filed at Companies House.
Statement from the Board
All resolutions proposed at the AGM were duly passed. The majority received votes in favour exceeding 96%, while Resolution 5, to re-elect Geoff Hsu as a director of the Company, secured 63% support.
Where 20% or more of votes have been cast against any shareholder resolution, the Company is required by Provision 4 of the UK Corporate Governance Code and the AIC Code of Corporate Governance to explain what actions it intends to take to consult shareholders and understand the reasons behind the result.
The Board believes that the votes against Resolution 5 principally reflect concerns regarding representatives of the Portfolio Manager serving on the Board.
Mr Hsu has served as a Director of the Company since May 2018 and has made a valuable contribution to the Board through his investment experience and market knowledge. The Board also notes that Mr Hsu does not serve on any Board committee and receives no fee for acting as a Director.
The Board will engage with shareholders to better understand their views and will consider whether any changes to the Company’s governance arrangements would be appropriate in light of the feedback received. The Company will provide a further update following that engagement.
16 July 2026
For further information please contact:
|
Katherine Manson |
Frostrow Capital LLP – Company Secretary |
020 3709 8734 |
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