Circ re General Meeting

To:       PR Newswire

From:  Capital Gearing Trust P.l.c.   

Date:   26 April 2017

Capital Gearing Trust P.l.c.

Publication of Circular

Since its approval at the annual general meeting in 2015, the Company has operated a discount and premium control policy (the “DCP”). In order to meet the recent and continuing demand for shares resulting from the operation of this policy, the Board is now seeking the renewal of its shareholder authorities to issue ordinary shares on a non pre-emptive basis prior to the Company's next annual general meeting, which is expected to be held in July 2017. In seeking these authorities now and before the annual general meeting, it permits the Company to continue to issue shares under the DCP which, based on current issuing patterns, might otherwise have been prevented by exhaustion of the existing authorities. Accordingly, the Company has today published a circular convening a general meeting (the "General Meeting") to be held at 11.00 a.m. on 12 May 2017 at the offices of Dickson Minto W.S., 16 Charlotte Square, Edinburgh EH2 4DF.

At the General Meeting, two resolutions will be put to shareholders. An ordinary resolution, to give the Board authority to allot up to 454,067 ordinary shares which represents approximately 10 per cent. of the Company's current issued share capital as at 25 April 2017 (the last practicable date prior to the date of the notice convening the General Meeting) and a special resolution, to give the Board authority to disapply rights of pre-emption in respect of such shares.

The Board will only issue new shares at a premium to net asset value, to meet demand from investors and when the Board believes it is in the best interests of the Company and its shareholders to do so. 

The circular will shortly be available for inspection on the National Storage Mechanism which is located at http://www.morningstar.co.uk/uk/nsm.do.

All enquiries:

Steven Cowie
Company Secretary
Tel: [phone]
Email:[e-mail]