AGM Statement

RNS Number : 8227Q

North Atlantic Smlr Co Inv Tst PLC

23 June 2020

 

North Atlantic Smaller Companies Investment Trust PLC (the "Company")

Result of Annual General Meeting

The Company announces that at the Annual General Meeting (the "Meeting") of the Company held today (23 June 2020), all of the resolutions, as set out in full in the notice of the Meeting dated 22 May 2020 (the "Notice"), including the waiver of the requirements of Rule 9 of the City Code on Takeovers and Mergers in connection with the Company's ability to buy back its own shares (Resolution 15), were duly passed as below.

Resolutions 1 to 11 were passed by way of show of hands and Resolutions 12-15 were passed by way of polls using the proxy votes.

Proxy votes received

Resolution	For	Against	Votes Withheld
1	7,995,134	0	0
2	7,992,143	1,309	1,682
3	7,995,134	0	0
4	7,523,582	469,492	2,059
5	6,475,345	1,248,164	271,624
6	7,993,075	0	2,059
7	7,992,875	1,177	1,082
8	7,992,775	1,177	1,182
9	7,994,052	1,000	82
10	7,995,052	0	82
11	7,972,541	21,534	1,059
12	7,987,040	5,430	2,664
13	7,992,286	289	2,559
14	7,937,683	57,451	0
15*	2,631,942	1,271,527	4,091,664

*   Resolution 15 was put to the Meeting as a resolution of the independent shareholders of the Company. As a result, 10,038,260 of the ordinary shares in issue were eligible to vote on this resolution, these shares not being held by the Concert Party (as defined in the Notice). The waiver of Rule 9 granted by Resolution 15 permits the Concert Party's interest in the Company's shares to increase from 29.11% to a maximum of 32.34% (in each case representing 4,121,740 ordinary shares) as a result of the share buyback authorised by Resolution 13 without requiring the Concert Party to make a mandatory offer for the other shareholders' shares. The results of the poll vote on this Resolution 15 were 2,631,942 votes for, 1,271,527 against, 4,091,664 abstentions, therefore with 67.43% in favour of the resolution.

Contact:

Jane Muir

For Derringtons Limited

Company Secretary

020 8819 6486

 

END

 

 

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