Alliance Trust PLC - Change in Investment Objec...

25 April 2019

Alliance Trust PLC

Change of Investment Objective and Policy

The Board of Directors of Alliance Trust PLC (the "Trust") wishes to announce that with effect from 25 April 2019 shareholders have approved changes to the wording of the Trust’s Investment Objective and Policy.

The changes in wording that were approved are:

• To explain that the Trust will continue to primarily invest in global equities and to have as its objective that it shall be a core investment delivering a real return over the long term through capital growth and a rising dividend.
• To explain that through our investment manager we appoint a number of stock pickers with different styles and approaches who each select and invest in equities across a wide range of different sectors and industries for our portfolio.
• To make clear that we will continue to achieve an appropriate spread of risk by holding a diversified portfolio with no single investment exceeding 10% (at the time of investment) of the Trust’s total assets.
• To confirm no change to our use of gearing which will continue to be a maximum of 30% of the Trust’s net assets and that derivatives can be used to hedge, enhance and protect positions.

The full text of the Investment Objective and Policy can be found on the Trust’s website www.alliancetrust.co.uk

Alliance Trust PLC

01382 321010