Result of AGM

RNS Number : 0646V

Montanaro UK Smlr Cos Inv Tst PLC

18 July 2018

 

Montanaro UK Smaller Companies Investment Trust PLC ("the Company")

Results of AGM

Following the Annual General Meeting (the "AGM") which was held today, 18 July 2018, we are pleased to announce that all resolutions put to shareholders were passed, including ordinary resolutions 11 and 12 and special resolutions 13 and 14 as special business of the Company:

Resolution 11	To authorise the sub division of each existing ordinary share of 10 pence into five ordinary shares of 2 pence.
Resolution 12	To grant the Directors authority to allot shares.
Resolution 13	To authorise the Directors to disapply pre-emption rights in respect of issues of new shares or the sale of shares out of treasury.
Resolution 14	To authorise the Directors to purchase the Company's shares for cancellation or to be held in treasury.

Resolution 11 Sub division of Shares

Resolution 11 provides authority for a five for one share split such that each shareholder will receive five shares with a nominal value of 2 pence each (the "New Ordinary Shares") for every one existing ordinary share (the "Existing Ordinary Share") currently held. 

Following the sub division each shareholder will hold five New Ordinary Shares for each Existing Ordinary share they held immediately prior to the sub division.  A holding of New Ordinary Shares immediately following the sub division will represent the same proportion of the issued ordinary share capital of the Company as the corresponding holding of Existing Ordinary Shares currently in issue.  The sub division will not affect the overall value of a holding of shares in the Company.

The record date for the sub division is after the close of business on 19 July 2018. 

Subject to the passing of resolution 11 at the AGM, applications were made to the UK Listing Authority to amend the Official List, and to the London Stock Exchange to amend the respective trading lines with effect from 20 July 2018.

The New Ordinary Shares will have the following new security codes:

ISIN: GB00BZ1H9L86

SEDOL: BZ1H9L8

It is expected that CREST accounts will be credited with the New Ordinary Shares on 20 July 2018.  Where Existing Ordinary Shares are held in certificated form, share certificates will cease to be valid from close of business on 19 July 2018.  Certificates in respect of the New Ordinary Shares will be posted, at the risk of shareholders, by 3 August 2018.

The full text of each resolution can be found in the Annual Report and Accounts for the year ended 31 March 2018, which is available at www.montanaro.co.uk/our-trusts/uk-smaller-companies-investment-trust

In accordance with listing rule 9.6.2 a copy of the resolutions has been submitted to the National Storage Mechanism, and will shortly be available for inspection at: www.hemscott.com/nsm.do

Proxy votes received in favour of the resolutions were as follows:

	Votes For	% (of votes cast excl. withheld)	Votes Against	% (of votes cast excl. withheld)	Total (excl. withheld and third party discretionary)	Votes Withheld
Resolution 1	21,054,151	99.99	894	0.01	21,055,045	0
Resolution 2	21,053,901	99.99	1,144	0.01	21,055,045	0
Resolution 3	21,053,901	99.99	1,144	0.01	21,055,045	0
Resolution 4	21,055,045	100.00	0.00	0.00	21,055,045	0
Resolution 5	20,999,801	99.74	54,349	0.26	21,054,150	894
Resolution 6	21,050,595	99.98	3,555	0.02	21,054,150	894
Resolution 7	21,054,151	100.00	0.00	0.00	21,054,151	894
Resolution 8	21,050,595	99.98	3,555	0.02	21,054,150	894
Resolution 9	21,054,151	100.00	0.00	0.00	21,054,151	894
Resolution 10	21,054,151	99.99	894	0.01	21,055,045	0
Resolution 11	21,053,776	99.99	1,269	0.01	21,055,045	0
Resolution 12	21,053,776	99.99	375	0.01	21,054,151	894
Resolution 13	21,053,776	99.99	1,269	0.01	21,055,045	0
Resolution 14	21,053,776	99.99	375	0.01	21,054,151	894

Maitland Administration Services Limited

Corporate Secretary

18 July 2018

 

END

 

 

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