AGM Statement

RNS Number : 3259Q

Pacific Horizon Investment Tst PLC

17 October 2011

 

PACIFIC HORIZON INVESTMENT TRUST PLC

Annual General Meeting

 17 October 2011

At the Annual General Meeting held on 17 October 2011 all resolutions were passed, including those detailed below:

·    Shareholders authorised the renewal of the authority to issue shares.

Shareholders approved resolutions renewing the Directors general authority to issue shares up to an aggregate nominal amount of £768,570 and to allot a limited number of shares for cash on a non-pre-emptive basis again up to £768,570 (being approximately 10% of the issued share capital of the Company as at 8 September 2011). The authority will expire at the conclusion of the Annual General Meeting of the Company to be held in respect of the financial year ending 31 July 2012 or on the expiry of 15 months from the passing of this resolution, whichever is the earlier, unless previously varied, revoked or renewed.

·    Shareholders authorised the Company to renew its share buy back authority.

Shareholders approved a special resolution renewing the Company's authority to make market purchases of up to 14.99 per cent of the Company's issued share capital, being 11,453,409 ordinary shares of 10p. The authority will expire at the conclusion of the Annual General Meeting of the Company to be held in respect of the financial year ending 31 July 2012, unless previously varied, revoked or renewed.

Special Business

·      Shareholders voted to approve the continuation of the Company.

The full text of the resolution is as follows:-

''THAT, the Directors having recommended that the obligation imposed on them by article 177 of the articles of association of the Company to convene an Extraordinary General Meeting of the Company at which a resolution will be proposed pursuant to section 84 of the Insolvency Act 1986 to wind up the Company voluntarily be postponed for a period of five years, such obligation be postponed until the date of the Annual General Meeting of the Company to be held in 2016 or 30 November 2016, whichever is the earlier.''

Baillie Gifford & Co

Company Secretaries

17 October 2011

 

END

 

 

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