TIDMNSCI
RNS Number : 3975E
NetScientific PLC
29 June 2023
For immediate release
NetScientific plc
("NetScientific", "Group" or the "Company")
Result of Annual General Meeting and Board Changes
NetScientific plc (AIM: NSCI), the deep tech and life sciences
VC investment group, announces that all resolutions set out in the
2023 Notice of Annual General Meeting sent to shareholders were
duly passed at the Company's Annual General Meeting held earlier
today.
Result of Annual General Meeting
Resolutions 1 to 9 were passed as Ordinary Resolutions and
Resolution 10 was passed as a Special Resolution. The proxy voting
results are as follows:
Resolution For % Against % Vote Total Vote Total as % of Issued Withheld*
Share Capital
1. To receive and adopt the
Company's Annual Report and
Accounts for the period
ended 31 December
2022 6,910,987 100% 686 0% 6,911,673 29% -
---------- ----- -------- --- ----------- ---------------------------- ----------
2. To receive and approve
the Directors' Remuneration
Report 6,871,686 99% 39,975 1% 6,911,661 29% 12
---------- ----- -------- --- ----------- ---------------------------- ----------
3. To reappoint BDO LLP as
auditors for the
forthcoming year 6,873,987 99% 37,686 1% 6,911,673 29% -
---------- ----- -------- --- ----------- ---------------------------- ----------
4. To authorise Audit
Committee in determining
Auditors' remuneration 6,910,987 100% 686 0% 6,911,673 29% -
---------- ----- -------- --- ----------- ---------------------------- ----------
5. To confirm the
reappointment of Dr Ilian
Iliev as a director 6,905,598 100% 6,075 0% 6,911,673 29% -
---------- ----- -------- --- ----------- ---------------------------- ----------
6. To confirm the
reappointment of Edward
Hooper as a director 6,905,598 100% 6,075 0% 6,911,673 29% -
---------- ----- -------- --- ----------- ---------------------------- ----------
7. To confirm the
reappointment of Dr
Jonathan Robinson as a
director 6,905,598 100% 6,075 0% 6,911,673 29% -
---------- ----- -------- --- ----------- ---------------------------- ----------
8. To confirm the
reappointment of Dr Charles
Spicer as a director 6,897,104 100% 6,075 0% 6,903,179 29% 8,494
---------- ----- -------- --- ----------- ---------------------------- ----------
9. To authorise the
Directors to allot relevant
securities pursuant to
section 551 of the
Companies Act 2006 6,865,004 99% 46,669 1% 6,911,673 29% -
---------- ----- -------- --- ----------- ---------------------------- ----------
10. To disapply pre-emption
rights on the allotment of
securities or sale of
treasury shares
in connection with a
pre-emptive offer or on
allotment of shares 6,810,004 99% 101,669 1% 6,911,673 29% -
---------- ----- -------- --- ----------- ---------------------------- ----------
* A vote withheld is not a vote in law and is not counted in the
calculation of the proportion of votes "For" or "Against" a
resolution.
Board Changes
Further to the announcement made on 3 April 2023, Prof Stephen
Smith has retired from the NetScientific Board with effect from the
closing of the AGM. It is anticipated that he will remain an
adviser to a number of the Group's life sciences portfolio
companies.
Further to the announcement made on 31 May 2023, Dr Charles
Spicer has taken over as Chair with effect from the closing of the
AGM. Dr Jonathan Robinson has retired as Interim Chair and moves to
the role of Senior Independent Director.
Dr Ilian Iliev, Chief Executive Officer of the Company,
commented:
"On behalf of the Company and the Board, I extend a warm welcome
to Charles as he joins our team. We are looking forward to working
with him and benefiting from his expertise. Additionally, I would
like to express my appreciation to Prof. Stephen Smith for his
dedicated service since 2016. We greatly value his ongoing counsel
and understanding of the life sciences sector. Finally, I would
like to extend my gratitude to Jonathan Robinson for his interim
board leadership. We look forward to continuing to work alongside
him in his new role as Senior Independent Director."
Dr Charles Spicer, Chair of the Company, commented:
"I am excited by the future prospects of the Company and eagerly
anticipate working with Ilian and the wider team. Our primary
objective will be to drive shareholder returns through profitable
exits and strategic expansion of our portfolio."
For more information, please contact:
NetScientific
Ilian Iliev, CEO Via Belvedere Communications
WH Ireland (NOMAD, Financial Adviser and Broker)
Chris Fielding / Darshan Patel / Enzo Aliaj +44 (0)20 7220
1666
Belvedere Communications
John West / Llew Angus +44 (0) 203 008 6867
Email: nsci@belvederepr.com
About NetScientific
NetScientific plc (AIM: NSCI) is deep tech and life sciences VC
investment group with an international portfolio of innovative
companies.
NetScientific identifies, invests in, and builds high growth
companies in the UK and internationally. The company adds value
through the proactive management of its portfolio, progressing to
key value inflection points, and delivering investment returns
through partial or full liquidity events.
NetScientific differentiates itself by employing a capital-light
investment approach, making judicial use of its balance sheet and
syndicating investments through its wholly owned VC subsidiary, EMV
Capital. The group secures a mixture of direct equity stakes and
carried interest stakes in its portfolio of companies, creating a
lean structure that can support a large portfolio.
NetScientific is headquartered in London, United Kingdom, and is
admitted to trading on AIM, a market operated by the London Stock
Exchange.
www.netscientific.net
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