Result of Meeting

The Board of Oxford Technology VCT Plc (OT1) is pleased to announce that the resolution to approve the OT1 Scheme proposed at the First General Meeting held today, 20 June 2022, was duly passed on a show of hands. 

The Board of OT1 notes that the shareholders of each of Oxford Technology 3 VCT Plc (OT3) and Oxford Technology 4 VCT Plc (OT4) have also approved the resolutions to enable the merger of their companies with OT2, and shareholders of OT2 have now passed all the resolutions to enable the issue of Consideration Shares and Leisure Shares, as set out in the Circular dated 18 May 2022. Provided shareholders of OT1 also approve the placing of OT1 into Members Voluntary Liquidation at the Second General Meeting on 30 June 2022, it is expected that the Merger of OT1 and OT2 will complete on the same day, at which time the assets and liabilities of OT1 will be transferred to OT2 in exchange for New OT1 Consideration Shares. Provided the OT3 and OT4 shareholders also approve the placing of their companies into Members Voluntary Liquidation at the Second General Meetings of their companies on 30 June 2022, it Is expected that the full Merger will complete on the same day. Admission of and dealings in Consideration Shares is expected to be 1 July 2022 when OT2 will have four separate share classes, the Ordinary Shares representing the pool of assets linked to the existing OT2 share pool, and 3 new share pools incorporating the assets and liabilities transferred from OT1, OT3 and OT4.  A further announcement will be made at that time.

Proxy votes were received in respect of 2,385,379 Ordinary Shares, representing 43.9% of the issued share capital as at 16 June 2022.

The following table shows the proxy votes cast for the resolution:

	For		Against		%age of  Issued share capital	Abstain
	Votes	%	Votes	%	voted
SPECIAL RESOLUTION
1 To approve the OT1 Scheme	2,354,379	98.7%	31,000	1.3%	43.9%	0

The full text of the resolutions passed at the General Meeting can be found in the OT1 Circular which is available on the Company's website at https://www.oxfordtechnologyvct.com/ 

1. A withheld vote is not a vote in law and, accordingly, is not counted in the calculation of the proportion of votes "For" and "Against" the resolution concerned.

2. Any proxy appointments which gave discretion to the Chairman have been included in the vote "For" total.

3. The number of shares in issue (and total voting rights) at close of business on 16 June 2022 was 5,431,655 ordinary shares, carrying one vote each. Therefore, the total voting rights in the Company are 5,431,655.

1. A withheld vote is not a vote in law and, accordingly, is not counted in the calculation of the proportion of votes "For" and "Against" the resolution concerned.

2. Any proxy appointments which gave discretion to the Chairman have been included in the vote "For" total.

A copy of the resolution passed at the General Meeting will be submitted to the National Storage Mechanism in accordance with Listing Rules 9.6.2R and 9.6.3R, and will be available in due course for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, this information is now considered to be in the public domain.

Enquiries: Lucius Cary Oxford Technology Management 01865 784466

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