AGM Statement

RNS Number : 1264W

JPMorgan Chinese Inv Tst PLC

22 January 2013

 



STOCK EXCHANGE ANNOUNCEMENT

RESULTS OF AGM, GENERAL MEETING AND CLASS MEETING OF SUBSCRIPTION SHAREHOLDERS

JPMORGAN CHINESE INVESTMENT TRUST PLC

22 JANUARY 2013

Following the Annual General Meeting of the Company, which was held today, the Board is pleased to announce that all of the Ordinary Resolutions put to shareholders were passed.  In addition, the following four items of Special Business were passed which:

i)          allow the Company to allot new Ordinary shares up to an aggregate nominal amount of £1,947,016 representing approximately 10% of the Company's issued Ordinary share capital;

ii)         allow the Company to disapply pre-emption rights on allotment of relevant securities;

iii)        allow the Company to make market purchases of up to 11,472,427 Ordinary shares and 1,906,391 Subscription shares, representing 14.99% of the Company's issued share capital; and

iv)        allow the Company to continue in existence as an investment trust for a further five year period.

The full text of all the resolutions can be found in the Notice of Annual General Meeting contained in the Annual Report and Accounts which is available for viewing at the National Storage Mechanism which can be located at www.hemscott.com/nsm.do and from the Company's website, www.jpmchinese.co.uk. 

Immediately following the conclusion of the Annual General Meeting, a General Meeting of the Company was held. The Board is pleased to announce that the Special Resolution put to shareholders to authorise: (A) the conversion and redesignation of the Outstanding Subscription Shares, if any, following the lapse of the Subscription Share Rights after the Final Subscription Date into Deferred Shares; (B) the purchase and consequential cancellation of such Deferred Shares; and (C) the amendment of the Articles of Association to remove all references to the Subscription Shares following such conversion and redesignation, was passed.  However, in accordance with its terms, the Special Resolution is conditional on the holders of the Subscription Shares having sanctioned, and consented to, every modification, variation or abrogation of the special rights, privileges and restrictions attaching to the Subscription Shares to be effected by the passing and implementation of the Special Resolution, as referred to below.

The text of the Special Resolution can be found in the Notice of General Meeting as set out in the Circular dated 12th December 2012 which can be found on the Company's website, www.jpmchinese.co.uk. 

A summary of proxy votes received for both the Annual General Meting and the General Meeting will shortly be available on the Company's website, www.jpmchinese.co.uk. 

Immediately following the conclusion of the General Meeting, a separate General Meeting of holders of Subscription shares was called by the Chairman to consider a Special Resolution to sanction, and consent to, every modification, variation or abrogation of the special rights, privileges and restrictions attaching to the Subscription Shares to be effected by the passing and implementation of the Special Resolution which was passed at the General Meeting, as referred to above.  However, a quorum for this meeting was not present and therefore this meeting has been adjourned to 11.50 a.m. on Wednesday 23rd January 2013 at Finsbury Dials, 20 Finsbury Street, London EC2Y 9AQ. A further announcement will be made tomorrow.

22nd January 2013

For further information, please contact:

Lucy Dina

For and on behalf of

JPMorgan Asset Management (UK) Limited - Company Secretary

020 7742 4000 

 

END

 

 

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