Result of AGM

RNS Number : 7762O

Pacific Horizon Investment Tst PLC

09 November 2016

 

PACIFIC HORIZON INVESTMENT TRUST PLC

Annual General Meeting

9 November 2016

 At the Annual General Meeting held on 9 November 2016 all resolutions were passed, including those detailed below:

·    Shareholders approved an ordinary resolution renewing the Directors' general authority to issue shares up to an aggregate nominal value of £571,181.91 (being approximately 10% of the issued share capital of the Company as at 15 September 2016) and a special resolution to renew the Directors' authority to allot a limited number of shares for cash on a non-pre-emptive basis again up to an aggregate nominal value of £571,181.91. Both authorities will expire at the conclusion of the next annual general meeting of the Company or on 9 February 2018 whichever is the earlier, unless previously varied, revoked or renewed.

·    Shareholders approved a special resolution renewing the Company's authority to make market purchases of up to 14.99% of the Company's issued share capital, being 8,133,916 ordinary shares of 10p. The authority will expire at the conclusion of the annual general meeting of the Company to be held in respect of the financial year ending 31 July 2017, unless previously varied, revoked or renewed.

Special Business

·      99.34% of shares cast, representing approximately 30.8 million ordinary shares (c.57% of the issued share capital), voted to approve the continuation of the Company.

The full text of the resolution is as follows:-

''That the obligation imposed on the Directors by article 177 of the articles of association of the Company, to convene a general meeting of the Company at which a resolution will be proposed pursuant to section 84 of the Insolvency Act 1986 to wind up the Company voluntarily (the ''Wind Up Obligation''), be postponed for a further period of five years, as recommended by the Directors, such Wind Up Obligation be postponed until the date of the annual general meeting of the Company to be held in 2021 or 30 November 2021, whichever is the earlier.''

The full text of all the resolutions can be found in the Notice of Annual General Meeting contained in the circular ''Notice of Annual General Meeting including the formal proposal to extend the life of the Company together with revised tender offer proposals'' which is available for viewing at the National Storage Mechanism at http://www.morningstar.co.uk/uk/NSM.

Baillie Gifford & Co Limited

Company Secretaries

9 November 2016

 

END

 

 

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