Publication of Circular

LEI: 213800T2PJTPVF1UGW53

From:  Capital Gearing Trust P.l.c. 

Date:  10 March 2021

Capital Gearing Trust P.l.c.

Publication of Circular and General Meeting

Since its approval at the annual general meeting in 2015, the Company has successfully operated a discount and premium control policy (the “DCP”). This has kept the Company’s share price close to the prevailing net asset value and has allowed the Company to issue new ordinary shares of 25 pence each (the “Ordinary Shares”) to meet demand from existing and new investors in the Company and to buy back Ordinary Shares for re-issuance from treasury where the circumstances have required it.

The recent issuance levels mean that the Company’s existing authority to issue shares on a non pre-emptive basis, granted at the annual general meeting held on 3 July 2020, is likely to be exhausted prior to being refreshed at the next annual general meeting which is expected to be held in July 2021. As a result, in order to continue to operate the DCP and to meet the continuing demand for the Ordinary Shares, the Board is seeking the early renewal of its shareholder authority to issue Ordinary Shares on a non pre-emptive basis.

Accordingly, the Company has today published a circular convening a general meeting to be held at 10.00 a.m. on 6 April 2021 at the offices of PATAC Limited, 28 Walker Street, Edinburgh EH3 7HR (the "General Meeting"). At the General Meeting, a special resolution will be proposed to give the Board authority to disapply pre-emption rights on the issue of up to 1,356,084 Ordinary Shares (being 10 per cent. of the Company’s current issued share capital).

A copy of the circular will shortly be available for inspection on the Company’s website at www.capitalgearingtrust.co.uk and on the National Storage Mechanism which is located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

All enquiries:
PATAC Limited
Company Secretary
Tel: [phone]
Email: [e-mail]