Result of AGM

RNS Number : 2112U

BMO UK High Income Trust PLC

27 July 2020

 

To:  RNS

From:  BMO UK High Income Trust PLC

Date:  27 July 2020

LEI:   213800B7D5D7RVZZPV45

Subject: Result of Annual General Meeting

BMO UK High Income Trust PLC ('the Company') announces that, at the Annual General Meeting held on 27 July 2020, a poll was held on each of the 15 resolutions proposed and all were duly passed, including those detailed below:

· An ordinary resolution renewing the Directors' authority to allot new Ordinary shares of 0.1 pence each up to an aggregate nominal amount of £4,296 and new B shares of 0.1 pence each up to an aggregate nominal amount of £1,542 being approximately 5% of the Company's total issued Ordinary shares and approximately 5% of the Company's total issued B 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 30 September 2021, whichever is earlier, unless previously revoked, varied or extended by the Company in general meeting.

· A special resolution renewing the Directors' authority to allot new Ordinary shares of 0.1 pence each up to an aggregate nominal amount of £4,296 and new B shares of 0.1 pence each up to an aggregate nominal amount of £1,542 being 4.2% of the Company's total issued Ordinary shares and 4.8% of the Company's total issued B 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 30 September 2021, 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 12,879,800 Ordinary shares and 4,625,700 B shares being approximately 14.99% of the issued Ordinary shares and 14.99% of the issued B shares (excluding Ordinary shares and B shares held in treasury). This authority will expire at the conclusion of the Company's next Annual General Meeting or on 30 September 2021, whichever is the earlier, unless previously varied, revoked or renewed by the Company in general meeting.

· A special resolution renewing the Directors' authority to sell shares from treasury without having first to make a pro rata offer to existing shareholders limited up to an aggregate nominal amount of £8,592 in respect of Ordinary shares and £3,084 in respect of B shares, representing approximately 8.4 per cent of the Company's Ordinary share capital in issue and approximately 9.6 per cent of the Company's B share capital in issue (including treasury shares).  This authority shall expire at the conclusion of the next Annual General Meeting of the Company or on 30 September 2021, whichever is the earlier, unless previously varied, revoked or renewed by the Company in general meeting.

· 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 March 2020	19,463,063	99.62%	73,354	0.38%	236,619	19,536,417
2	Approve Directors' Remuneration Policy	18,720,499	97.04%	571,078	2.96%	481,458	19,291,577
3	Approve Directors' Remuneration Report for the year to 31 March 2020	18,788,353	97.12%	558,136	2.88%	426,546	19,346,489
4	To elect H M Galbraith as a Director	19,084,070	98.93%	206,924	1.07%	482,042	19,290,994
5	To elect S J Mitchell as a Director	19,078,313	98.90%	212,476	1.10%	482,245	19,290,789
6	To re-elect J Le Blan as a Director	18,911,752	98.08%	371,056	1.92%	490,227	19,282,808
7	To re-elect J M Evans as a Director	19,056,185	98.73%	246,089	1.27%	470,761	19,302,274
8	To re-elect A K Watkins as a Director	19,049,418	98.83%	226,422	1.17%	497,196	19,275,840
9	To re-appoint Deloitte LLP as Auditor and authority to determine its remuneration	19,166,749	98.21%	348,581	1.79%	257,707	19,515,330
10	Approval of the Company's dividend/capital repayment policy	19,381,242	99.19%	159,010	0.81%	232,784	19,540,252
11	Authorise the Directors to allot shares	19,251,001	99.17%	161,094	0.83%	360,941	19,412,095
12	Authority to allot shares without pre-emption rights	19,095,793	98.44%	303,370	1.56%	373,872	19,399,163
13	Authorise the Company to purchase own shares	19,126,970	97.79%	433,119	2.21%	212,946	19,560,089
14	Authority to sell treasury shares without pre-emption rights	19,069,907	98.42%	306,774	1.58%	396,354	19,376,681
15	Approval of new Articles of Association	19,164,874	98.29%	334,289	1.71%	273,872	19,499,163

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 March 2020, which was submitted to the National Storage Mechanism on 3 June 2020 and is available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website www.bmoukhighincome.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

At the time of the meeting the Company's issued share capital consists of 85,922,653 Ordinary shares carrying one vote each and 30,858,750 B shares carrying one vote each.  The Company holds 16,144,491 Ordinary shares and 1,217,953 B shares in treasury which do not carry voting rights. Therefore, the total voting rights in the Company were 116,781,403 votes.

For further information please contact:

BMO Investment Business Limited    0207 628 8000

 

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