Result of AGM

Scottish Mortgage Inv Tst PLC

05 July 2024

 

SCOTTISH MORTGAGE INVESTMENT TRUST PLC

Legal Entity Identifier: 213800G37DCS3Q9IJM38

Annual General Meeting, 4 July 2024

At the Annual General Meeting ('AGM') held on 4 July 2024 all resolutions were passed, including those detailed below.

·    Shareholders approved an ordinary resolution granting the Directors' general authority to issue shares up to an aggregate nominal amount of £6,699,614 representing approximately 10% of the total issued share capital (excluding treasury shares) of the Company as at 20 May 2024. This authority will expire on 4 October 2025 or, if earlier, at the conclusion of the AGM of the Company to be held in 2025 (unless previously varied, revoked or renewed).

·    Shareholders approved a special resolution granting the Company authority to allot equity securities or sell treasury shares for cash on a non pre-emptive basis up to £6,699,614, being approximately 10% of the issued share capital (excluding treasury shares) of the Company as at 20 May 2024. The Directors do not intend to use these powers to issue shares or sell treasury shares at a discount to net asset value on the basis of debt valued at fair value. This authority will expire on 4 October 2025 or, if earlier, at the conclusion of the AGM to be held in 2025 (unless previously varied, revoked or renewed).

·    Shareholders approved under Special Business an ordinary resolution authorising the Directors for the purposes of LR15.4.11 of the Listing Rules of the UK Listing Authority of the Financial Conduct Authority to issue shares or sell treasury shares (as defined in section 724 of the Companies Act 2006) for cash at a price below the net asset value per share of those shares without first offering those shares pro rata to existing Shareholders.

·    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 (excluding treasury shares), being 198,259,006 ordinary shares of 5 pence. 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 2025 (unless previously varied, revoked or renewed).

·    Shareholders approved under Special Business an ordinary resolution to increase the limit for Directors' fees to £500,000 in aggregate per annum in accordance with Article 108 of the Company's Articles of Association.

All resolutions were passed on a poll. A breakdown of the votes registered is shown below :

Resolution	Votes for (including votes at the discretion of the Chairman)	Votes Against	Votes Withheld
1	391,254,166	191,220	225,320
2	389,611,218	1,139,970	919,518
3	391,143,529	265,608	261,569
4	377,667,243	13,404,829	585,299
5	381,140,983	9,880,197	636,191
6	381,262,406	9,833,941	561,024
7	381,132,817	9,922,190	602,364
8	380,986,175	10,067,841	603,355
9	390,147,558	822,759	687,054
10	390,866,669	504,374	299,663
11	391,150,189	273,497	247,020
12	390,495,253	751,709	423,744
13	389,881,089	1,375,047	414,570
14	388,206,350	3,072,462	391,894
15	391,068,473	410,602	191,631
16	390,535,168	578,798	556,740

The full text of all the resolutions can be found in the Notice of Annual General Meeting which is available for viewing at the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Baillie Gifford & Co Limited

Company Secretaries

5 July 2024

Regulated Information Classification: Additional regulated information required to be disclosed under applicable laws and regulation.

 

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