AGM Statement

RNS Number : 4228O

Scottish Mortgage Inv Tst PLC

29 June 2010

 

SCOTTISH MORTGAGE INVESTMENT TRUST PLC

Annual General Meeting, 28 June 2010 

At the AGM held on 28 June 2010 all resolutions were passed, including those detailed below:

·        Shareholders approved a special resolution renewing the Company's authority to make market purchases of up to 14.99% of the Company's issued share capital, being 38,684,677 ordinary shares of 25p. The Company's authority permits it to hold shares bought back "in treasury". Such treasury shares may subsequently be either sold for cash or cancelled. This authority will expire at the conclusion of the AGM to be held in respect of the financial year ending 31 March 2011 unless previously varied, revoked or renewed.

·        Shareholders approved a special resolution granting the Company authority to allot authorised but unissued shares on a non pre-emptive basis up to £6,451,747 being 10% of the issued share capital of the Company as at 14 May 2010. This authority permits the sale of shares out of treasury. The Directors do not intend to use these powers to re-issue shares at a discount to net asset value. This authority will expire at the conclusion of the AGM to be held in 2011.

Special Business

·    Shareholders approved by special resolution the adoption of new Articles of Association to take account of further changes in company law brought about by the last parts of the Companies Act 2006.

The full text of all the resolutions can be found in the Notice of Annual General Meeting contained in the Annual Report and Financial Statements, copies of which are available for viewing at the UK Listing Authority's Document Viewing Facility, the address of which is shown below. A copy of the resolution passed under special business will be submitted to the UK Listing Authority and will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility at the address below.

Financial Services Authority

25 The North Colonnade

Canary Wharf

London

E14 5HS

Tel. no. 0207 066 1000

Baillie Gifford & Co

Managers and Secretaries

29 June 2010

 

END

 

 

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