Result of AGM

Scottish Mortgage Inv Tst PLC
05 July 2024
 

SCOTTISH MORTGAGE INVESTMENT TRUST PLC

Legal Entity Identifier: 213800G37DCS3Q9IJM38

Annual General Meeting, 4 July 2024

 

At the Annual General Meeting ('AGM') held on 4 July 2024 all resolutions were passed, including those detailed below.

·    Shareholders approved an ordinary resolution granting the Directors' general authority to issue shares up to an aggregate nominal amount of £6,699,614 representing approximately 10% of the total issued share capital (excluding treasury shares) of the Company as at 20 May 2024. This authority will expire on 4 October 2025 or, if earlier, at the conclusion of the AGM of the Company to be held in 2025 (unless previously varied, revoked or renewed).

·    Shareholders approved a special resolution granting the Company authority to allot equity securities or sell treasury shares for cash on a non pre-emptive basis up to £6,699,614, being approximately 10% of the issued share capital (excluding treasury shares) of the Company as at 20 May 2024. The Directors do not intend to use these powers to issue shares or sell treasury shares at a discount to net asset value on the basis of debt valued at fair value. This authority will expire on 4 October 2025 or, if earlier, at the conclusion of the AGM to be held in 2025 (unless previously varied, revoked or renewed).

·    Shareholders approved under Special Business an ordinary resolution authorising the Directors for the purposes of LR15.4.11 of the Listing Rules of the UK Listing Authority of the Financial Conduct Authority to issue shares or sell treasury shares (as defined in section 724 of the Companies Act 2006) for cash at a price below the net asset value per share of those shares without first offering those shares pro rata to existing Shareholders.

·    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 (excluding treasury shares), being 198,259,006 ordinary shares of 5 pence. 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 2025 (unless previously varied, revoked or renewed).

·    Shareholders approved under Special Business an ordinary resolution to increase the limit for Directors' fees to £500,000 in aggregate per annum in accordance with Article 108 of the Company's Articles of Association.

All resolutions were passed on a poll. A breakdown of the votes registered is shown below :

Resolution

Votes for (including votes at the discretion of the Chairman)

Votes Against

Votes Withheld

 

 

1

391,254,166

191,220

225,320

 

2

389,611,218

1,139,970

919,518

 

3

391,143,529

265,608

261,569

 

4

377,667,243

13,404,829

585,299

 

5

381,140,983

9,880,197

636,191

 

6

381,262,406

9,833,941

561,024

 

7

381,132,817

9,922,190

602,364

 

8

380,986,175

10,067,841

603,355

 

9

390,147,558

822,759

687,054

 

10

390,866,669

504,374

299,663

 

11

391,150,189

273,497

247,020

 

12

390,495,253

751,709

423,744

 

13

389,881,089

1,375,047

414,570

 

14

388,206,350

3,072,462

391,894

 

15

391,068,473

410,602

191,631

 

16

390,535,168

578,798

556,740

 

 

The full text of all the resolutions can be found in the Notice of Annual General Meeting which is available for viewing at the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

 

Baillie Gifford & Co Limited

Company Secretaries

5 July 2024

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

 

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