Result of AGM

Downing Strategic Micro-Cap IT PLC

21 August 2024

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Downing Strategic Micro-Cap Investment Trust plc (the "Company" or "DSM")

LEI Number: 213800QMYPUW4POFFX69

Results of Annual General Meeting

Introduction

The Board of Directors of DSM announces the results of the Annual General Meeting of the Company held at 12.00 noon today. As set out in the Notice of Annual General Meeting circular to Shareholders dated 5 June 2024 (the "Notice"), the Resolutions proposed at the Annual General Meeting comprised, in summary:

§ ordinary business:      

a)   to receive the Directors Report and the Financial Statements for the year ended 29 February 2024 with the report of the Auditor thereon;

b)   to approve the Directors Remuneration Report for the year ended 29 February 2024;

c)   to approve the Directors Remuneration Policy;

d)   to re-elect Hugh Aldous as a director;

e)   to re-appoint BDO LLP as auditor to the company;

f)    to authorise, the Audit Committee to determine the auditor's remuneration;

§ special business, as a special resolution:         

a)   to make market purchases of the up to 14.99% of the Company's Ordinary Shares,

All Resolutions were voted on by way of a poll and the results of the poll are shown below.

Results of Annual General Meeting

Resolution	Votes For	% (of votes cast excl. withheld)	Votes Against	% (of votes cast excl. withheld)	Total votes cast	% (issued share capital)	Votes Withheld
Ordinary resolutions
1.   to receive the Directors Report and the Financial Statements for the year ended 29 February 2024 with the report of the Auditor thereon.	17,981,376	98.43%	286,031	1.57%	18,267,407	40.02%	20,486
2.   to approve the Directors Remuneration Report for the year ended 29 February 2024.	17,623,330	96.82%	578,746	3.18%	18,202,076	39.88%	85,817
3.   to approve the Directors Remuneration Policy.	17,585,508	96.64%	610,766	3.36%	18,196,274	39.86%	91,619
4.   to re-elect Hugh Aldous as a director.	13,008,714	71.28%	5,240,234	28.72%	18,248,948	39.98%	38,945
5.   to re-appoint BDO LLP as auditor to the company.	17,911,287	98.06%	353,865	1.94%	18,265,152	40.02%	22,741
6.   to authorise, the Audit Committee to determine the auditor's remuneration.	17,964,822	98.27%	316,763	1.73%	18,281,585	40.05%	15,864
Special resolution
7.   to make market purchases of up to 14.99% of the Company's Ordinary Shares.	13,051,091	71.48%	5,208,317	28.52%	18,259,408	40.00%	38,041

Shareholders are entitled to one vote per Share. Votes withheld are not a vote in law and are therefore not counted in the calculation of the percentages of the votes cast for and against a resolution. Where Shareholders appointed the Chair as their proxy with discretion as to voting, their votes were cast against all Requisitioned Resolutions and their Shares have been included in the "votes against" column.

​The total number of Shares in issue is 45,645,241. The Company holds no Shares in treasury. The Company has one non-redeemable preference management share of 1 penny in issue. The non-redeemable preference management share does not carry any voting rights. Each Share held outside of treasury carries a right to one vote at a general meeting of the Company. Therefore, the total number of voting rights in the Company is 45,645,241 votes.

​The full text of the Resolutions can be found in the Notice of Annual General Meeting contained in the Annual Report and Financial Statements available for viewing on the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at https://www.downingstrategic.co.uk/.

​Defined terms used in this announcement have the meanings given to them in the Annual Report and Financial Statements unless the context otherwise requires.

For further information please contact:

Chairman

Hugh Aldous                             tel: [phone]

Dickson Minto Advisers LLP

Douglas Armstrong                   tel: [phone]

Media Contacts - Garfield Advisory

Andrew Garfield                           tel: [phone]

Jason Nisse                                tel: [phone]

The person responsible for arranging for the release of this announcement on behalf of the Company is ISCA Administration Services Limited, the Company Secretary.

 

END