AGM Statement

RNS Number : 5625J

Scottish Mortgage Inv Tst PLC

01 July 2011

 

SCOTTISH MORTGAGE INVESTMENT TRUST PLC

Annual General Meeting, 30 June 2011 

At the AGM held on 30 June 2011 all resolutions were passed, including those detailed below:

·        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 38,452,332 ordinary shares of 25p. The Company's authority permits it to hold shares bought back "in treasury". Such treasury shares may subsequently be either sold for cash or cancelled. This authority will expire at the conclusion of the AGM to be held in respect of the financial year ending 31 March 2012 unless previously varied, revoked or renewed.

·        Shareholders approved a special resolution granting the Company authority to allot authorised but unissued shares on a non pre-emptive basis up to £6,412,997 being 10% of the issued share capital of the Company as at 11 May 2011. This authority permits the sale of shares out of treasury. The Directors do not intend to use these powers to re-issue shares at a discount to net asset value. This authority will expire at the conclusion of the AGM to be held in 2012.

Special Business

·    Shareholders approved by special resolution the amendment to Article 108 (Directors' fees) and the adoption of new Articles of Association of the Company.

The full text of all the resolutions can be found in the Notice of Annual General Meeting contained in the Annual Report and Financial Statements which is available for viewing at the National Storage Mechanism at http://www.hemscott.com/nsm.do

Baillie Gifford & Co

Managers and Secretaries

30 June 2011

 

END

 

 

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