Result of AGM

RNS Number : 1022D

JPMorgan Chinese Inv Tst PLC

26 January 2018

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN CHINESE INVESTMENT TRUST PLC

RESULTS OF 2018 ANNUAL GENERAL MEETING

Legal Entity Identifier: 549300S8M91P5FYONY25

Following the Annual General Meeting of the Company, which was held earlier today, the Board is pleased to announce the appointment of John Misselbrook as the new Chairman of the Company with immediate effect.  Mr Misselbrook has been a Director since July 2012 and has served as the Chairman of the Audit Committee since 2013.

Mr Misselbrook will be succeeded as Chairman of the Audit Committee by David Graham.  The Board would like to express its gratitude to the departing Chairman, William Knight.

In addition to the appointments made above, the Board is pleased to announce that all the Ordinary Resolutions put to shareholders were passed.  In addition, the following items of Special Business were also passed which:

i.)          will allow the Company to allot shares up to an aggregate nominal amount of £1,947,874 representing approximately 10% of the Company's issued share capital;

ii.)         will allow the disapplication of pre-emption rights on the allotment of shares;  

iii.)        will allow the Company to make market purchases of up to 10,931,931 Ordinary 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 Board notes the votes against Resolution 13 (that the Company continues in existence as an investment trust for a further five year period) for a total of 20,771,098 ordinary shares representing 44.4 per cent. of those shares voting and 22.8 per cent. of the issued share capital. These votes were cast primarily by two shareholders with whom the Board has had a long term dialogue and relationship and we expect this to continue.

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.morningstar.co.uk/uk/NSM and from the Company's website www.jpmchinese.co.uk

A Summary of proxy votes received will shortly be available on the Company's website, www.jpmchinese.co.uk 

26th January 2018

For further information, please contact:

Divya Amin

For and on behalf of

JPMorgan Funds Limited, Secretary

020 7742 4000

 

END

 

 

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