AGM Statement

RNS Number : 5858U

Scottish Mortgage Inv Tst PLC

26 June 2009

 

SCOTTISH MORTGAGE INVESTMENT TRUST PLC

Annual General Meeting, 25 June 2009 

The Company announces the retirement of Mr Ball as a Director of the Board at the conclusion of the Company's Annual General Meeting held on 25 June 2008. Mr Gray will replace Mr Ball as the Senior Independent Director.

At the AGM held on 25 June 2009 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 40,760,043 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 2010 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 £6,797,872, being 10% of the issued share capital of the Company as at 13 May 2009. 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 2010.

The full text of all the resolutions can be found in the Notice of Annual General Meeting contained in the Annual Report and Accounts, copies of which are available for viewing at the UK Listing Authority's Document Viewing Facility, which is situated at:

Financial Services Authority

25 The North Colonnade

Canary Wharf

London

E14 5HS

           Tel. no. 0207 066 8224

Baillie Gifford & Co

Managers and Secretaries

26 June 2009

 

END

 

 

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