Result of AGM

Smithson Investment Trust PLC

27 April 2023

 

Smithson Investment Trust plc

Legal Entity Identifier: 52990070BDK2OKX5TH79

Results of AGM - 27 April 2023

Smithson Investment Trust plc (the "Company") is pleased to announce that all the resolutions put forward at its Annual General Meeting held earlier today were passed. 

The text of all the resolutions is contained in the Notice of Annual General Meeting published on the Company's website (www.smithson.co.uk).

The proxy votes received were as follows:

	Resolution	In Favour / Discretionary		Against		Withheld
		Votes	%	Votes	%	Votes
1.	To receive and adopt the Annual Report and Accounts.	59,849,638	99.99	2,511	0.01	9,401
2.	To approve the Directors Remuneration Policy.	59,722,212	99.84	98,318	0.16	41,020
3.	To approve the Directors Remuneration Report.	59,723,242	99.84	96,787	0.16	41,521
4.	To re-elect Diana Dyer Bartlett as a Director of the Company.	43,269,010	75.84	13,787,242	24.16	2,805,298
5.	To re-elect Lord St John of Bletso as a Director of the Company.	56,117,959	93.81	3,703,234	6.19	40,357
6.	To re-elect Jeremy Attard-Manche as a Director of the Company.	58,813,257	98.32	1,004,549	1.68	43,744
7.	To elect Denise Hadgill as a Director of the Company.	59,767,245	99.90	61,184	0.10	33,121
8.	To re-appoint Deloitte LLP as auditor to the Company.	59,792,065	99.91	55,328	0.09	14,157
9.	To authorise the Directors to fix the remuneration of the auditor until the conclusion of the next Annual General Meeting of the Company.	59,827,784	99.97	17,009	0.03	16,757
10.	To authorise the Directors to allot securities in the Company up to an amount representing 10% of the issued share capital.	59,794,422	99.95	28,519	0.05	38,609
11.	To authorise the Directors to allot securities in the Company up to an additional amount representing 10% of the issued share capital.	59,788,964	99.91	54,967	0.09	17,619
12.	To disapply the pre-emption rights in relation to the allotment of shares up to an amount representing 10% of the issued share capital. *	58,680,690	98.09	1,140,096	1.91	40,764
13.	To disapply the pre-emption rights in relation to the allotment of shares up to an additional amount representing 10% of the issued share capital. *	58,676,796	98.05	1,164,312	1.95	20,442
14.	To authorise the Company to make market purchases of ordinary shares in the Company. *	59,233,994	98.97	619,469	1.03	8,087
15.	That the Directors be authorised to call general meetings (other than annual general meetings) on not less than 14 clear days' notice. *	59,669,876	99.73	161,776	0.27	29,898

*Special resolution

Resolution 4, the re-election of the Chairman of the Board received less than 80% of the votes cast in favour. The Board understands that the vote against the resolution is predominantly in respect of a large shareholder's view on the diversity of the Board.  The Board proposes to consult with shareholders to discuss any concerns that have influenced their voting. A statement detailing the outcome of the Company's consultation with its shareholders, including the views received from shareholders and any actions taken as a result, will be published by the Company by no later than 27 October 2023 in accordance with the AIC Code of Corporate Governance.

On the record date for voting at the meeting, the Company's issued ordinary share capital consisted of 177,107,958 ordinary shares. There were 9,210,000 treasury shares in issue. Therefore, the total number of ordinary shares with voting rights in the Company was 167,897,958.

Copies of all the resolutions passed, other than ordinary business, will be submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

27 April 2023

Enquiries

Apex Listed Companies Services (UK) Limited

Company Secretary

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