Result of AGM

RNS Number : 0599A

BMO Managed Portfolio Trust - BMPI

24 September 2020

 

To:  RNS

Date:  24 September 2020

Company:  BMO Managed Portfolio Trust PLC

LEI:  213800ZA6TW45NM9YY31

Subject: Result of Annual General Meeting

BMO Managed Portfolio Trust PLC (the "Company") announces that, at the Annual General Meeting held on 24 September 2020, all 15 resolutions proposed were duly passed, including those detailed below:

· An ordinary resolution authorising the Directors' to allot new Income shares up to an aggregate nominal amount of £890,590.90 (consisting of 9,377,000 Income shares) and new Growth shares up to an aggregate nominal amount of £684,492.76 (consisting of 7,207,000 Growth shares), being approximately 20% of the Company's total issued Income shares and approximately 20% of the Company's total issued Growth shares respectively (excluding shares held in treasury). This authority will expire at the conclusion of the Company's next Annual General Meeting to be held after the passing of this resolution or on the expiry of 15 months from the passing of this resolution, whichever is earlier, unless previously revoked, varied or extended by the Company in general meeting.

· A special resolution authorising the Directors' to allot new Income shares, or resell Income shares held in treasury, up to an aggregate nominal amount of £445,295.45 (consisting of 4,688,500 Income shares) and allot new Growth shares or resell Growth shares held in treasury, up to an aggregate nominal amount of £342,246.38 (consisting of 3,603,500 Growth shares) being approximately 10% of the Company's total issued Income shares and approximately 10% of the Company's total issued Growth shares respectively (including shares held in treasury) for cash without first offering such shares to existing shareholders pro rata to their existing holdings. This authority will expire at the conclusion of the Company's next Annual General Meeting to be held after the passing of this resolution or on the expiry of 15 months from the passing of this resolution, whichever is earlier unless previously varied, revoked or renewed by the Company in general meeting.

· A special resolution providing the Directors' with additional authority to allot further new Income shares or resell Income shares held in treasury up to an aggregate nominal amount of £445,295.45 (consisting of 4,688,500 Income shares) and allot further new Growth shares or resell Growth shares held in treasury, up to an aggregate nominal amount of £342,246.38 (consisting of  3,603,500 Growth shares) being approximately 10% of the Company's total issued Income shares and approximately 10% of the Company's total issued Growth shares respectively (including shares held in treasury) for cash without first offering such shares to existing shareholders pro rata to their existing holdings. This authority will expire at the conclusion of the Company's next Annual General Meeting to be held after the passing of this resolution or on the expiry of 15 months from the passing of this resolution, whichever is earlier unless previously varied, revoked or renewed by the Company in general meeting.

· A special resolution renewing the Directors' authority to make market purchases of up to 7,028,000 Income shares and 5,402,000 Growth shares being approximately 14.99% of the issued Income shares and 14.99% of the issued Growth shares (excluding Income shares and Growth shares held in treasury). This authority will expire at the conclusion of the Company's next Annual General Meeting or on 24 December 2021, whichever is the earlier, unless previously varied, revoked or renewed by the Company in general meeting.

· A special resolution to approve the proposed Purchase Contract to enable the Company to make off-market purchases of its own deferred shares.

· A special resolution to adopt new Articles of Association

  The results of the poll were as follows:

		For and Discretionary		Against		Withheld	Total Votes (excluding Votes Withheld)
	Resolution	No of Votes	% of Votes Cast	No of Votes	% of Votes Cast	No of Votes
1	Receive Annual Report & Financial Statements for the year to 31 May 2020	38,169,237	99.9%	22,389	0.1%	1,218,200	38,191,626
2	Approve Directors' Remuneration Policy	33,971,471	95.0%	1,796,833	5.0%	3,641,519	35,768,304
3	Approve Directors' Remuneration Report for the year to 31 May 2020	34,199,608	94.8%	1,884,891	5.2%	3,325,326	36,084,499
4	To re-elect David Harris as a Director	37,239,099	98.6%	513,994	1.4%	1,656,732	37,753,093
5	To re-elect Susan P. Inglis as a Director	36,998,110	97.9%	801,860	2.1%	1,609,854	37,799,970
6	To re-elect Colin S. McGill as a Director	37,120,681	98.3%	636,191	1.7%	1,652,954	37,756,872
7	To re-elect David Warnock as a Director	36,899,896	97.9%	775,424	2.1%	1,734,507	37,675,320
8	To re-appoint KPMG LLP as Auditor and authority to determine its remuneration	36,017,729	96.3%	1,368,582	3.7%	2,023,515	37,386,311
9	Approval of the Company's dividend policy	37,520,521	99.8%	92,730	0.2%	1,796,572	37,613,251
10	Authorise the Directors to allot shares	37,313,838	99.4%	226,572	0.6%	1,869,415	37,540,410
11	Authorise the Directors to allot shares and sell treasury shares without pre-emption rights	34,826,884	96.8%	1,140,774	3.2%	3,442,169	35,967,658
12	Authorise the Directors to allot additional shares and sell treasury shares without pre-emption rights	34,598,902	95.3%	1,696,933	4.7%	3,113,991	36,295,835
13	Authorise the Company to purchase own shares	36,815,972	98.2%	685,830	1.8%	1,908,020	37,501,802
14	Approval of Proposed purchase contract	35,603,655	98.4%	583,483	1.6%	3,222,686	36,187,138
15	Approval of new Articles of Association	35,630,984	96.7%	1,219,983	3.3%	2,558,859	36,850,967

The full text of all the resolutions can be found in the Notice of Annual General Meeting set out in the Annual Report and Financial Statements for the year ended 31 May 2020 which was submitted to the National Storage Mechanism on 13 August 2020 and is available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website www.bmomanagedportfolio.com

A copy of the new articles of association adopted at the meeting have been submitted to the National Storage Mechanism and will be shortly available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Under the Articles of Association, on a poll each Income shareholder and each Growth shareholder is entitled to a weighted vote determined in accordance with the underlying NAV of the relevant share class. The related share voting numbers for this meeting were 1.18 and 2.20 for the Income shares and Growth shares respectively.

At the time of the meeting the Company's issued share capital consists of 46,885,537 Income shares and 36,113,210 Growth shares with voting rights. Based on the share voting numbers determined for this meeting, the total voting rights applicable to the poll on the above resolutions were 134,773,996.

For further information please contact:

BMO Investment Business Limited 

Company Secretary

Telephone: [phone]

 

END

 

 

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