Circ re General Meeting

LEI:      213800T2PJTPVF1UGW53

From:   Capital Gearing Trust P.l.c.       

Date:    1 August 2019

Capital Gearing Trust P.l.c.

Publication of Circular and General Meeting

Since its approval at the annual general meeting in 2015, Capital Gearing Trust P.l.c. (the "Company") has successfully operated a discount and premium control policy. In order to meet the continuing high demand for the Company's ordinary shares resulting from the operation of this policy, the Board is seeking the renewal of its shareholder authorities to issue further ordinary shares on a non pre-emptive basis.  Accordingly, the Company has today published a circular convening a general meeting to be held at 10.00 a.m. on 27 August 2019 at the offices of Dickson Minto W.S., 16 Charlotte Square, Edinburgh EH2 4DF (the "General Meeting").

At the General Meeting, three resolutions will be put to shareholders. An ordinary resolution will be proposed to give the Board authority to allot up to 10 per cent. of the aggregate nominal value of the issued share capital of the Company as at the date of the General Meeting. This level of authority, when combined with the authority remaining from the annual general meeting, will give the Company aggregate authority to allot up to approximately one third of the current issued share capital. The Board is also proposing two special resolutions for the disapplication of pre-emption rights in respect of the issue of such shares, one to renew 10 per cent. issuance, which is in accordance with corporate governance guidelines, and a second resolution to increase this authority by a further 20 per cent., both of which the Board hopes shareholders will approve. If all resolutions are passed this will allow for aggregate issuance authority of up to 30 per cent. of the issued share capital at the date of the General Meeting under the discount and premium control policy without having to return to shareholders for additional approval.

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:

PATAC Limited

Company Secretary

Tel: [phone]

Email: [e-mail]