Result of AGM

RNS Number : 3628B

Martin Currie Global Portfolio Tst

09 June 2021

 

Martin Currie Global Portfolio Trust plc

Legal Entity Identifier: 549300RKB85NFVSTBM94

Results of Annual General Meeting

The Annual General Meeting of the Company was held at 12:30pm today, 9 June 2021. The following resolutions, as set out in the Notice of Annual General Meeting were duly passed on a poll.  Resolutions numbered 1 to 11 were passed as Ordinary resolutions and resolutions 12 to 15 were passed as Special resolutions.

Ordinary business

1.   That the Report of the directors and auditors and the financial statements for the year ended 31 January 2021 be received;

2.   That the Directors' annual remuneration report for the year ended 31 January 2021 be approved;

3.   That the Directors' remuneration policy be approved;

4.   That the dividend policy be approved;

5.   That Marian Glen be re-elected as a Director;

6.   That Gary Le Sueur be re-elected as a Director;

7.   That Christopher Metcalfe be re-elected as a Director;

8.   That Gillian Watson be re-elected as a Director;

9.   That Ernst & Young LLP be re-appointed as auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next general meeting at which accounts are laid before the Company;

10.   That the Directors be authorised to fix the remuneration of the auditors for the year ending 31 January 2022; and

11.   That, in substitution of any existing authority, the directors of the Company be and are hereby generally and unconditionally authorised pursuant to s551 of the Companies Act 2006 (the 'Act') to allot equity securities (as defined in s560 of the Act) up to a maximum nominal amount of £1,410,824.05 (being approximately one third of the issued share capital of the Company (excluding Treasury shares) as at 8 April 2021, being the latest practicable date before the date of this notice) provided that the authority hereby given shall expire on 30 July 2022 or, if earlier, the conclusion of the annual general meeting of the Company in 2022 save that the Company may, at any time before the expiry of such authority, make an offer or enter into an agreement which would or might require equity securities to be allotted after the expiry of such authority and the directors may allot equity securities in pursuance of such an offer or agreement as if such authority had not expired.

Special business

12.   That, pursuant to Article 12 of the articles of association of the Company and in accordance with s701 of the Companies Act 2006 (the 'Act') and in substitution for any existing authority, the Company be and is hereby generally and unconditionally authorised to make market purchases (within the meaning of s693(4) of the Act) of Ordinary shares of 5 pence each in the capital of the Company provided that:

(a)   the maximum aggregate number of Ordinary shares hereby authorised to be purchased is 12,688,951 (or, if less, 14.99% of the number of Ordinary shares in issue (excluding Treasury shares) immediately prior to the passing of this resolution);

(b)   the minimum price which may be paid for an Ordinary share is 5 pence (exclusive of expenses);

(c)   the maximum price (exclusive of expenses) which may be paid for an Ordinary share shall be not more than the higher of (i) 5% above the average of the mid-market quotations for an Ordinary share of the Company as derived from the Daily Official List of the London Stock Exchange for the five business days immediately preceding the date of purchase; and (ii) the higher of the last independent trade and the highest current independent bid on the London Stock Exchange;

(d)   the authority hereby conferred shall expire 15 months after the date of passing of this resolution or, if earlier, at the conclusion of the AGM of the Company in 2022, unless such authority is renewed, issued or revoked prior to such time; and

(e)   the Company may conclude a contract to purchase Ordinary shares under the authority hereby conferred prior to the expiry of such authority which will or

may be executed wholly or partly after the expiry of such authority and may make a purchase of Ordinary shares in pursuance of any such contract as if the authority hereby confirmed had not expired.

13.  That the Directors be and they are hereby empowered in accordance with s570 and s573 of the Companies Act 2006 (the 'Act') to allot equity securities (as defined in s560 of the Act), where they are generally authorised pursuant to the authority to allot equity securities conferred upon them by resolution 11 and/or to sell Ordinary shares held by the Company as Treasury shares, for cash, as if s561 of the Act did not apply provided that the power conferred by this resolution shall be limited to the allotment of equity securities having a nominal amount not exceeding in aggregate £423,247.20 (being an amount equal to 10% of issued equity share capital (excluding Treasury shares) as at 8 April 2021 being the latest practicable date before the date of this notice). Unless previously varied, revoked or renewed, the authority hereby conferred shall expire on 30 July 2022 or, if earlier at the conclusion of the annual general meeting of the Company in 2022, save that the Company may, before the expiry of any power contained in this resolution, make an offer or agreement which would or might require equity securities to be allotted after such expiry and the directors may allot equity securities in pursuance of such an offer or agreement as if the power conferred hereby had not expired.

14.   That, in addition to any authority granted under resolution 13, the Directors be and they are hereby empowered in accordance with s570 and s573 of the Companies Act 2006 (the 'Act') to allot equity securities (as defined in s560 of the Act), where they are generally authorised pursuant to the authority to allot equity securities conferred upon them by resolution 11 and/or to sell Ordinary shares held by the Company as Treasury shares, for cash, as if s561 of the Act did not apply provided that the power conferred by this resolution shall be limited to the further allotment of equity securities having a nominal amount not exceeding in aggregate £423,247.20 (being an amount equal to 10% of issued equity share capital (excluding Treasury shares) as at 8 April 2021 being the latest practicable date before the date of this notice). Unless previously varied, revoked or renewed, the authority hereby conferred shall expire on 30 July 2022 or, if earlier at the conclusion of the annual general meeting of the Company in 2022, save that the Company may, before the expiry of any power contained in this resolution, make an offer or agreement which would or might require equity securities to be allotted after such expiry and the directors may allot equity securities in pursuance of such an offer or agreement as if the power conferred hereby had not expired.

15.   That a general meeting, other than an annual general meeting, may be called on not less than 14 clear days' notice. Unless previously varied, revoked or renewed, the authority hereby conferred shall expire on 30 July 2022 or, if earlier, at the conclusion of the annual general meeting of the Company in 2022.

The results of the poll are as follows:  

		For		Against		Withheld
Resolution		Votes	%	Votes	%
1	To receive the report of the directors and auditors and the financial statements for the year ended 31 January 2021	19,026,276	100.00	-	-	-
2	To approve the directors' remuneration report for the year ended 31 January 2021	18,947,584	99.74	49,933	0.26	28,759
3	To approve the directors' remuneration policy	18,944,773	99.81	35,508	0.19	45,995
4	To approve the dividend policy	19,018,004	100.00	-	-	8,272
5	To re-elect Marian Glen as a director	18,943,168	99.89	20,370	0.11	62,738
6	To re-elect Gary Le Sueur as a director	18,982,769	99.94	12,083	0.06	31,424
7	To re-elect Christopher Metcalfe as a director	18,983,556	99.94	12,083	0.06	30,637
8	To re-elect Gillian Watson as a director	18,975,269	99.89	20,370	0.11	30,637
9	To re-appoint Ernst & Young LLP as auditors	18,971,449	99.78	41,456	0.22	13,371
10	To authorise the directors to fix the remuneration of the auditors for the year ending 31 January 2022	19,017,720	99.96	8,556	0.04	-
11	To give authority to allot shares	18,997,263	99.85	29,013	0.15	-
12	To give authority for share buybacks	18,968,733	99.70	57,543	0.30	-
13	To give authority to disapply pre-emption rights	18,822,767	99.48	98,502	0.52	105,007
14	To give authority to disapply pre-emption rights to a further 10%	18,278,775	97.41	486,820	2.59	260,681
15	To give authority for general meetings to be held on 14 clear days' notice	18,838,927	99.02	185,931	0.98	1,418

Doreen Nic

on behalf of Martin Currie Investment Management Limited

Company Secretary

 

END

 

 

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