Annual General Meeting - Arrangements

RNS Number : 8580H

Scottish American Investment Co PLC

27 March 2020

 

THE SCOTTISH AMERICAN INVESTMENT COMPANY P.L.C.

Legal Entity Identifier: 549300NF03XVC5IFB447

Coronavirus (Covid-19) - Important notice in relation to the Annual General Meeting (the "AGM") and dividend payment

Further to the announcement by The Scottish American Investment Company P.L.C. (SAINTS) on 23 March 2020 and to subsequent Government announcements and measures in relation to Covid-19, your Board has now resolved to postpone SAINTS' AGM, due to be held on 2 April 2020, to a later date in accordance with the provisions of the Company's articles of association.

Details of the new time, date and location of SAINTS' 2020 AGM will be communicated to shareholders in due course, once the Board considers that it is practicable for the meeting to be held.

As you will be aware, SAINTS had previously announced its intention to pay a final dividend of 3.00p per ordinary share in respect of its financial year ended 31 December 2019.  In view of the postponement of the AGM, at which shareholders' approval for this final dividend was to have been sought, the Directors have resolved that the final dividend will instead be paid to SAINTS' shareholders as a fourth interim dividend of 3.00p per share. The timetable for this further interim dividend will be the same as previously planned for the final dividend and so it will be paid on 9 April 2020, to shareholders on the register at the close of business on 6 March 2020, with the ex-dividend date being 5 March 2020.

In light of this dividend being paid out to shareholders as a fourth interim dividend, the Board does not anticipate the need for any shareholder approval in relation to a final dividend payment at the AGM and so intends to withdraw such resolution at the AGM when it is held.

We would encourage shareholders to monitor SAINTS' website at www.saints-it.com .

Baillie Gifford & Co Limited

Company Secretaries

 27 March 2020

Regulated Information Classification: Additional regulated information required to be disclosed under applicable laws.

 

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