Result of AGM

RNS Number : 3983D

City of London Investment Trust PLC

27 October 2020

 

HENDERSON INVESTMENT FUNDS LIMITED

THE CITY OF LONDON INVESTMENT TRUST PLC

LEGAL ENTITY IDENTIFIER: 213800F3NOTF47H6AO55

27 October 2020

THE CITY OF LONDON INVESTMENT TRUST PLC

Annual General Meeting of the Company

held on Tuesday 27 October 2020

The City of London Investment Trust plc announces that at the Annual General Meeting held earlier today all resolutions proposed were duly passed on a poll. This included six special business resolutions:

-  Resolution 11: to approve the dividend payment policy of paying four quarterly interim dividends in each year;

-  Resolution 12: to authorise the Directors to allot ordinary shares up to to 10% of the issued ordinary share capital;

-  Resolution 13: to authorise the Directors to allot or to sell from treasury up to 10% of the issued ordinary share capital without first offering them to existing shareholders in accordance with statutory pre-emption procedures;

-  Resolution 14: to authorise the Company to make market purchases of the Company's ordinary shares;

-  Resolution 15: to authorise the Company to make market purchases of the Company's preferred stock; and 

-  Resolution 16: to hold general meetings other than an Annual General Meeting on not less than 14 clear days' notice.  

The full text of the resolutions can be found in the circular to shareholders dated 17 September 2020 which can be viewed on the Company's website at: www.cityinvestmenttrust.com .

The poll results were as follows:

Resolutions	Votes for (including at Chairman's discretion)	%	Votes against	%	Total votes cast	Votes cast (excluding votes withheld) as a percentage of total voting rights	Votes withheld
1 Annual Report and financial statements	6,389,804	99.94%	3,664	0.06	6,393,468	23.05%	26,748
2 Directors' Remuneration Report	6,322,349	99.28%	45,647	0.72	6,367,996	22.95%	52,120
3 Directors' Remuneration Policy	6,313,349	99.24%	48,506	0.76	6,361,855	22.93%	58,263
4 Election of Sir Laurie Magnus	6,335,433	99.70%	18,875	0.30	6,354,308	22.91%	65,827
5 Election of Mrs Clare Wardle	6,350,517	99.72%	17,680	0.28	6,368,197	22.96%	52,018
6 Re-election of Mr Robert Holmes	6,355,523	99.73%	16,947	0.27	6,372,470	22.97%	47,747

7 Re-election of Mr Martin Morgan	6,358,376	99.77%	14,835	0.23	6,373,211	22.97%	47,004
8 Re-election of Mrs Samantha Wren	5,065,709	99.34%	33,820	0.66	5,099,529	18.38%	1,320,687
9 Re-appointment of PricewaterhouseCoopers as auditors	6,338,205	99.38%	39,376	0.62	6,377,581	22.99%	42,635
10 Audit Committee to determine the auditors' remuneration	6,365,147	99.72%	17,745	0.28	6,382,892	23.01%	37,324
11 Approve the dividend payment policy	6,387,909	99.89%	7,016	0.11	6,394,925	23.05%	25,040
12 Authority to allot ordinary shares	6,369,394	99.70%	19,127	0.30	6,388,521	23.03%	31,694
13 Authority to disapply pre-emption rights on allotment or sale of ordinary shares*	6,310,101	99.39%	38,766	0.61	6,348,867	22.89%	71,346
14 Authority to make market purchases of ordinary shares*	6,370,723	99.81%	12,267	0.19	6,382,990	23.01%	37,229
15 Authority to make market purchases of preferred stock*	6,368,801	99.87%	8,488	0.13	6,377,289	22.99%	42,929
16 Authority to call a general meeting on 14 clear days' notice*	6,355,809	99.51%	31,614	0.50	6,387,423	23.02%	32,794

* Special resolution.

For the purposes of section 341 of the Companies Act 2006, the votes validly cast are expressed in the table above as a percentage of the Company's total voting rights as at the close of business on 23 October 2020 (27,741,673), being the time at which a shareholder had to be registered in the register of members in order to vote at the Annual General Meeting.  A vote "withheld" is not a vote in law and has not been counted as a vote "for" or "against" a resolution.

The number of ordinary shares in issue at the date of this announcement is 416,404,868, of which 1,175,000 shares are held in treasury. As at the date of this announcement the number of voting rights in the Company is:

a)  27,681,991 in respect of the ordinary shares (one vote for every 15 shares held);

b)  30,198 in respect of the First Preference Stock (one vote for every £10 of stock held); and

c)  29,484 in respect of the Preferred Ordinary Stock (one vote for every £20 of stock held).

Therefore, the total number of voting rights in the Company is 27,741,673.

A copy of the poll results will shortly be available on the Company's website at:

www.cityinvestmenttrust.com

A copy of the special business resolutions will be submitted to the National Storage Mechanism ("NSM") and will shortly be available for inspection on the NSM's website at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

 

For further information please contact:

Job Curtis Fund Manager The City of London Investment Trust plc Tel: [phone]	Sally Porter For and on behalf of Henderson Secretarial Services Limited The City of London Investment Trust plc Tel: [phone]
Laura Thomas Investment Trust PR Manager Janus Henderson Investors Tel: [phone]

 

END

 

 

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