Result of AGM

Downing Strategic Micro-Cap IT PLC
21 August 2024
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Downing Strategic Micro-Cap Investment Trust plc (the "Company" or "DSM")

LEI Number: 213800QMYPUW4POFFX69

Results of Annual General Meeting

 

Introduction

 

The Board of Directors of DSM announces the results of the Annual General Meeting of the Company held at 12.00 noon today. As set out in the Notice of Annual General Meeting circular to Shareholders dated 5 June 2024 (the "Notice"), the Resolutions proposed at the Annual General Meeting comprised, in summary:

 

§ ordinary business:      

a)   to receive the Directors Report and the Financial Statements for the year ended 29 February 2024 with the report of the Auditor thereon;

b)   to approve the Directors Remuneration Report for the year ended 29 February 2024;

c)   to approve the Directors Remuneration Policy;

d)   to re-elect Hugh Aldous as a director;

e)   to re-appoint BDO LLP as auditor to the company;

f)    to authorise, the Audit Committee to determine the auditor's remuneration;

§ special business, as a special resolution:         

a)   to make market purchases of the up to 14.99% of the Company's Ordinary Shares,

All Resolutions were voted on by way of a poll and the results of the poll are shown below.

 

Results of Annual General Meeting

 

Resolution

Votes For

% (of votes cast excl. withheld)

Votes Against

% (of votes cast excl. withheld)

Total votes cast

%

(issued

share

capital)

Votes Withheld

Ordinary resolutions

1.   to receive the Directors Report and the Financial Statements for the year ended 29 February 2024 with the report of the Auditor thereon.

17,981,376

98.43%

   286,031

1.57%

18,267,407

40.02%

   

  20,486

 

2.   to approve the Directors Remuneration Report for the year ended 29 February 2024.

17,623,330

96.82%

   578,746

3.18%

18,202,076

39.88%

85,817

3.   to approve the Directors Remuneration Policy.

17,585,508

96.64%

   610,766

3.36%

18,196,274

39.86%

91,619

4.   to re-elect Hugh Aldous as a director.

13,008,714

71.28%

5,240,234

28.72%

18,248,948

39.98%

38,945

5.   to re-appoint BDO LLP as auditor to the company.

17,911,287

98.06%

   353,865

1.94%

18,265,152

40.02%

22,741

6.   to authorise, the Audit Committee to determine the auditor's remuneration.

17,964,822

98.27%

316,763

1.73%

18,281,585

40.05%

15,864

Special resolution

7.   to make market purchases of up to 14.99% of the Company's Ordinary Shares.

 

13,051,091

71.48%

5,208,317

28.52%

18,259,408

40.00%

38,041

 

Shareholders are entitled to one vote per Share. Votes withheld are not a vote in law and are therefore not counted in the calculation of the percentages of the votes cast for and against a resolution. Where Shareholders appointed the Chair as their proxy with discretion as to voting, their votes were cast against all Requisitioned Resolutions and their Shares have been included in the "votes against" column.

The total number of Shares in issue is 45,645,241. The Company holds no Shares in treasury. The Company has one non-redeemable preference management share of 1 penny in issue. The non-redeemable preference management share does not carry any voting rights. Each Share held outside of treasury carries a right to one vote at a general meeting of the Company. Therefore, the total number of voting rights in the Company is 45,645,241 votes.

The full text of the Resolutions can be found in the Notice of Annual General Meeting contained in the Annual Report and Financial Statements available for viewing on the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at https://www.downingstrategic.co.uk/.

Defined terms used in this announcement have the meanings given to them in the Annual Report and Financial Statements unless the context otherwise requires.

 

For further information please contact:

 

Chairman

Hugh Aldous                             tel: 020 7416 7780

 

Dickson Minto Advisers LLP

Douglas Armstrong                   tel: 020 7649 6823

 

Media Contacts - Garfield Advisory

Andrew Garfield                           tel: 07974 982337

Jason Nisse                                tel: 07769 688618

 

The person responsible for arranging for the release of this announcement on behalf of the Company is ISCA Administration Services Limited, the Company Secretary.

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