Result of AGM

RNS Number : 4176T

Templeton Emerging Markets IT PLC

17 July 2015

 

Templeton Emerging Markets Investment Trust PLC

17 July 2015

Result of Annual General Meeting

The Board of Templeton Emerging Markets Investment Trust PLC (the "Company") announces that at the Annual General Meeting of the Company held on 17 July 2015 all of the resolutions proposed were passed by the requisite majority on a show of hands other than resolution 15 in respect of which a poll was called and was passed by the requisite majority on a poll.

Resolution 15:

That, in substitution for any existing authority, the Company be and is hereby authorised in accordance with Section 701 of the Companies Act 2006 to make market purchases (within the meaning of Section 693(4) of the Companies Act 2006) of shares of 25 pence each in the capital of the Company ("shares") provided that:

(i)         the maximum number of shares hereby authorised to be purchased shall not exceed 14.99 per cent of the shares in issue on 17 July 2015, or 47,569,189 shares, whichever is lower;

                  (ii)        the minimum price which may be paid for a share shall be 25 pence;

(iii)       the maximum price which may be paid for a share shall not be more than the higher of: a) an amount equal to 105 per cent of the average of the closing mid-market price of shares (as derived from the daily Official List of the London Stock Exchange) for the five business days immediately preceding the date of purchase; and b) the amount stipulated by Article 5(1) of the regulation entitled the "Buy-Back and Stabilisation Regulation"; and

(iv)       unless renewed, the authority hereby conferred shall expire on the conclusion of the Annual General Meeting of the Company to be held in 2015, save that the Company may, prior to such expiry enter into a contract to purchase shares which will or may be completed wholly or partly after such expiry.

The details of the poll were as follows:

Votes for* 112,500,631 (being 99.86% of votes cast**)

Votes against 154,784 (being 0.14% of votes cast**)

Votes withheld*** 12,702,466

Total votes cast 112,655,415 (being 33.77% of the issued shared capital (as at 15 July 2015))

In accordance with the Listing Rules, copies of the resolutions proposed and passed as special business have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.

*	Proxy votes granted to the chairman of the meeting at his discretion are counted as votes "for" the resolution
**	Percentages are expressed as a proportion of the total votes cast (excluding withheld votes)
***	A vote withheld is not a vote in law and is not counted in the calculation of the votes cast "for" or "against" the resolution

For information please contact Winterflood (Corporate Broker) Neil Langford on + 44 (0) 20 3100 0160.

END OF ANNOUNCEMENT

 

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