Result of AGM

MIGO OPPORTUNITIES TRUST PLC

(the "Company")

Results of the Annual General Meeting held on Wednesday, 18 September 2024

The Board is pleased to announce that at the Annual General Meeting held today, all resolutions as detailed below were duly passed by shareholders on a show of hands. The proxy voting figures are shown below:

Resolutions	Votes For	%	Votes Against	%	Total Votes Cast (excl. votes withheld)	Votes Withheld
Ordinary Resolutions
To receive the Strategic Report, Report of the Directors, Auditor's Report and the audited financial statements for the year ended 30 April 2024.	2,293,769	99.72	6,500	0.28	2,300,269	6,624
To receive and approve the Directors' Remuneration Report for the year ended 30 April 2024.	2,260,837	98.48	34,966	1.52	2,295,803	11,090
To approve a final dividend of 0.6p per share.	2,290,752	99.70	6,850	0.30	2,297,602	9,291
To re-elect Richard Davidson as a Director of the Company.	2,293,419	99.70	6,850	0.30	2,300,269	6,624
To elect Caroline Gulliver as a Director of the Company.	2,274,527	98.88	25,742	1.12	2,300,269	6,624
To re-elect Lucy Costa Duarte as a Director of the Company.	2,279,527	99.10	20,742	0.90	2,300,269	6,624
To re- elect Ian Henderson as a Director of the Company.	2,292,261	99.65	8,008	0.35	2,300,269	6,624
To re-appoint PricewaterhouseCoopers LLP as Auditor of the Company.	2,283,282	99.52	11,060	0.48	2,294,342	12,551
To authorise the Audit Committee to determine the Auditor's remuneration.	2,290,473	99.69	7,129	0.31	2,297,602	9,291
SPECIAL BUSINESS
To authorise the Directors to allot shares.	2,277,356	99.10	20,742	0.90	2,298,098	8,795
Special Resolutions
To authorise the Directors to dis-apply pre-emption rights.	2,270,680	98.92	24,751	1.08	2,295,431	11,462
To authorise the Company to re-purchase shares in the market.	2,291,082	99.60	9,187	0.40	2,300,269	6,624
To authorise the Directors to call general meetings (other than the AGM) on not less than 14 clear days' notice.	2,293,419	99.70	6,850	0.30	2,300,269	6,624
To authorise the Company to re-purchase Elected shares in the market.	1,779,061	77.50	516,370	22.50	2,295,431	11,462
To authorise the Company to re-purchase Realisation shares in the market.	1,780,953	77.42	519,316	22.58	2,300,269	6,624

Any proxy votes which are at the discretion of the Chairman have been included in the "for" total.  A vote withheld is not a vote in law and is not counted in the calculations of votes cast by proxy. 

At the date of the Annual General Meeting, the total number of Ordinary shares of 1p each in issue and the total number of voting rights was 21,214,731.

The proxy voting figures will shortly also be available on the Company's website at www.migoplc.co.uk

In accordance with Listing Rule 9.6.2, the full text of the special business resolutions passed have been submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. The special business resolutions will additionally be filed at Companies House.

Resolutions 14 and 15:

The Board notes that a significant number of votes were cast against resolutions 14 and 15, and provides the following further explanation for shareholders, as recommended by the Investment Association and the UK Corporate Governance Code. 

These resolutions were carefully drafted to provide maximum flexibility for the Company to deal with any unplaced Elected shares and with Realisation shares, following the 2024 Realisation Opportunity.  Fortunately, the recent Realisation Opportunity did not require the implementation of the mechanisms that resolutions 14 and 15 provided.  Nonetheless, the Board understands the technical principles under which some shareholders have chosen to vote against these resolutions, particularly in the very unlikely event that they had needed to be fully utilised, and also notes that buybacks are subject to shareholder elections and market conditions, limiting arbitrary use. 

The Board acknowledges the significant shareholder support for its approach to returning capital via a range of mechanisms (including from shareholders who voted against resolutions 14 and 15) as well as noting the limited election for the 2024 Realisation Opportunity, which totalled 5.3% of MIGO's issued share capital.  This amount was bought back on 5 September necessitating no further action from the Company. Consequently, despite being passed, resolutions 14 and 15 need have no further application for the time being. 

The Board takes the result of the recent Realisation Opportunity and broader feedback on its realisation approach as a strong endorsement for the Company's strategy, particularly given the opportunities that the Investment Mangers see. The Board continues to have an open dialogue with shareholders on the approach to offering mechanisms to exit investments, which can be seen as positive for liquidity.

18 September 2024

For further information contact:

Kerstin Rucht, Frostrow Capital LLP 

Company Secretary, 020 3709 8732

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