Circular re General Meeting

MANCHESTER AND LONDON INVESTMENT TRUST PLC

(the “Company”)

Proposals to grant authority to issue up to 40 million new Ordinary Shares, amendments to Articles and investment policy and publication of circular

The Proposals

The Board of the Company announces that it has today published a circular (the “Circular”) setting out the Board's proposals to seek Shareholder approval to grant authority to allot up to 40,000,000 new Ordinary Shares on a non-pre-emptive basis and to approve certain amendments to the Articles and the investment policy (the “Proposals”).

The Proposals are subject to Shareholder approval and accordingly the Circular contains a notice convening a General Meeting of the Company to be held at 12a Princes Gate Mews, London SW7 2PS, United Kingdom on 2nd November 2020 at 12.15 p.m. or, if later, immediately after the conclusion or adjournment of the annual general meeting of the Company to be held on the same day, at which the following resolutions will be put to Shareholders:

1. approve the adoption of the amended investment policy set out in Part 2 of the Circular ("Resolution 1");

2. authorise the allotment of up to 40,000,000 new Ordinary Shares ("Resolution 2");

3. dis-apply statutory pre-emption rights otherwise applicable to the allotment of new Ordinary Shares pursuant to  Resolution 2 such that new Ordinary Shares do not first have to be offered to Shareholders in proportion to their holdings  of Ordinary Shares ("Resolution 3"); and

4. approve the amendment of the Articles of Association ("Resolution 4").

The background to, the reasons for and the Directors’ recommendations for these Proposals are set out in the Circular which will shortly be available for download from the national storage mechanism: www.morningstar.co.uk/uk/NSM and from the Company’s website: http://mlcapman.com/manchester-london-investment-trust-plc/

Please note that as a result of the Covid-19 pandemic and the imposition of measures by the UK Government, physical attendance at the General Meeting will not be possible.  The General Meeting will take place with the minimum necessary quorum of two Shareholders, which will be facilitated by the Company in line with the UK Government’s social distancing advice. Shareholders are strongly encouraged to vote in favour of the resolutions to be proposed at the General Meeting.  In light of Covid-19 and restrictions on attendance at the General Meeting, the Board encourages Shareholders to vote electronically and to appoint the Chairman of the meeting as their proxy with their voting instructions.  

Capitalised terms used in this announcement and not otherwise defined have the meanings given to them in the Circular.

EXPECTED TIMETABLE

	2020
Latest time and date for receipt of proxy appointments	12.15 p.m. on 31st October
General Meeting	12.15 p.m. on 2nd November

The above times and/or dates may be subject to change and, in the event of such change, the revised times and/or dates will be notified to Shareholders by an announcement through a Regulatory Information Service.

All references to times are to London times.

Enquiries:

M&L Capital Management Limited (AIFM):  [phone]

LEI: 213800HMBZXULR2EEO10