RNS Number : 0554V
JPMorgan Overseas IT PLC
26 October 2010
STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN OVERSEAS INVESTMENT TRUST PLC
BOARD CHANGES AND RESULT OF AGM
Following the Annual General Meeting of the Company, which was held earlier today, the Company announces that Simon Davies has succeeded George Paul as Chairman of the Board and Richard Barfield in his role as Chairman of the Nomination Committee, following their retirement as directors of the Company. Simon has stepped down as a member of the Audit & Management Engagement Committee and Jonathan Carey has assumed the role of Chairman of the Remuneration Committee from him. John Rennocks has become the Senior Independent Director.
The Company also announces that all of the Ordinary Resolutions put to shareholders were passed. In addition, four Special Resolutions were passed which:
i. will allow the Company to disapply pre-emption rights on the allotment of new Ordinary shares up to an aggregate nominal amount of £327,183, representing 5% of the Company's total Ordinary share capital;
ii. will allow the Company to make market purchases of up to 3,923,587 ordinary shares representing 14.99% of the Company's issued share capital;
iii. will allow the Company to sell shares from Treasury (at a premium to net asset value per share of existing shares in issue) of up to an aggregate nominal amount of £654,367, representing 10% of the Company's share capital; and,
iv. will allow the Company to disapply pre-emption rights on the sale of shares from Treasury.
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 the National Storage Mechanism which can be located at www.hemscott.com/nsm.do and from the Company's website, www.jpmoverseas.co.uk
A Summary of proxy votes received will shortly be available on the Company's website, www.jpmoverseas.co.uk.
26th October 2010
For further information, please contact:
For and on behalf of
JPMorgan Asset Management (UK) Limited - Secretary
020 7742 6000
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