AGM Statement

RNS Number : 4362Q

Scottish American Investment Co PLC

09 April 2009

 

THE SCOTTISH AMERICAN INVESTMENT COMPANY P.L.C.

Annual General Meeting held on 9 April 2009

At the AGM held on 9 April 2009 all resolutions were passed, including those detailed below:

Special Business:

• 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 19,859,642 ordinary shares of 25p. This authority will expire at the conclusion of the AGM to be held in 2010, unless previously varied, revoked or renewed.

• Shareholders approved a special resolution renewing the Company's authority to issue additional shares and sell treasury shares on a non-pre-emptive basis up to £3,312,148.50, being 10% of the total issued share capital of the Company. The Directors do not intend to use these powers to issue/sell shares at a discount to net asset value. This authority will expire at the conclusion of the AGM to be held in to be held in 2010 or on 23 March 2010, whichever is the earlier.

• Shareholders approved a special resolution to adopt new Articles of Association which reflect changes in company law brought about by the Companies Act 2006.

The full text of all the resolutions can be found in the Notice of Annual General Meeting contained in the Annual Report and Accounts which is available for viewing at the UK Listing Authority's Document Viewing Facility, the address of which is shown below. A copy of the resolutions passed under special business have been submitted to the UK Listing Authority and will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility at the address below.

Financial Services Authority

25 The North Colonnade

Canary Wharf

London

E14 5HS

Tel. no. (0)20 7066 1000

Baillie Gifford & Co

Managers and Secretaries

9 April 2009

 

END

 

 

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