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Edinburgh Worldwide (EWI)

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Wednesday 23 January, 2019

Edinburgh Worldwide

AGM Statement

RNS Number : 9278N
Edinburgh Worldwide Inv Trust PLC
23 January 2019
 

EDINBURGH WORLDWIDE INVESTMENT TRUST PLC

Legal Entity Identifier: 213800JUA8RKIDDLH380

Annual General Meeting

23 January 2019

 All resolutions were passed at the Annual General Meeting of the Company held on 23 January 2019, including those detailed below:

Special Business

·    Shareholders approved an ordinary resolution approving that the aggregate limit for fees paid to Directors for their services as Directors of the Company shall not exceed £200,000 per annum.

·    Shareholders approved an ordinary resolution that each of the ordinary shares of 5p each in the capital of the Company be subdivided into five ordinary shares of 1p each (the 'New Ordinary Shares'), the New Ordinary Shares having the rights and being subject to the restrictions set out in the Articles of Association of the Company, provided that such sub-division is conditional on, and shall take effect on, admission of the New Ordinary Shares to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities by 8.00am on 28 January 2019 (or such other time and/or date as the Directors of the Company may in their absolute discretion determine). Accordingly the 57,389,739 ordinary shares of 5p in issue as at 23 January 2019 will be sub-divided into 286,948,695 ordinary shares of 1p.

·    Shareholders approved an ordinary resolution to amend the Company's investment policy to stipulate that the maximum amount which may be invested in companies not listed on a public market shall not exceed 15 per cent of the total assets of the Company, measured at the time of purchase.

Ordinary Business

·    Shareholders approved an ordinary resolution renewing the Directors' general authority to issue shares up to an aggregate nominal amount of £946,930.69 (representing approximately 33% of the nominal value of the issued share capital of the Company as at 13 December 2018) and a special resolution to allot a limited number of shares for cash on a non pre-emptive basis up to £286,948.69 (being approximately 10% of the nominal value of the issued share capital of the Company as at 13 December 2018). These authorities will expire at the earlier of 23 April 2020 or at the conclusion of the next Annual General Meeting of the Company, unless previously varied, revoked or renewed.

·    Shareholders approved a special resolution authorising the Company to buy-back its own shares up to a maximum of 14.99% of the Company's issued share capital, being 43,013,609 ordinary shares of 1p (following the passing of the resolution approving the subdivision of the ordinary shares). This authority will expire at the conclusion of the Annual General Meeting to be held in respect of the year ending 31 October 2019 unless previously varied, revoked or renewed.

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 http://www.morningstar.co.uk/uk/NSM

 

Baillie Gifford & Co Limited

Company Secretaries

23 January 2019

           

Regulated Information Classification: Additional regulated information required to be disclosed under the laws of a Member State of the EU.


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