Result of AGM and Board Changes
Capital Gearing Trust p.l.c (the 'Company')
7 July 2010
Results of the Annual General Meeting and Board Changes
Results of the Annual General Meeting
The Annual General Meeting (the 'Meeting') of the Company was held on
Wednesday, 7 July 2010 at 11.00am. At the Meeting the ordinary and special
resolutions set out in the notice of the Meeting were proposed and passed on a
show of hands.
The proxy voting figures are shown below. A total of 13.9% of the issued share
capital was voted by proxy.
No. Resolution
ORDINARY BUSINESS
1 To receive and consider the Report and Accounts for the year ended 5 April
2010
Votes for/discretionary 388,173
Votes against 0
Total votes cast 388,173
Votes withheld 0
Poll No
2 To approve the Directors' Remuneration Report for the year ended 5 April
2010
Votes for/discretionary 388,173
Votes against 0
Total votes cast 388,173
Votes withheld 0
Poll No
3 To declare a final dividend for the year ended 5 April 2010
Votes for/discretionary 388,173
Votes against 0
Total votes cast 388,173
Votes withheld 0
Poll No
4 To re-elect Mr T R Pattison as a Director of the Company
Votes for/discretionary 387,773
Votes against 0
Total votes cast 387,773
Votes withheld 400
Poll No
5 To re-elect Mr R P A Spiller as a Director of the Company
Votes for/discretionary 387,773
Votes against 0
Total votes cast 387,773
Votes withheld 400
Poll No
6 To elect Mr G A Prescott as a Director of the Company
Votes for/discretionary 387,973
Votes against 0
Total votes cast 387,973
Votes withheld 200
Poll No
7 To re-appoint PricewaterhouseCoopers LLP as Auditors to the Company
Votes for/discretionary 387,773
Votes against 200
Total votes cast 387,973
Votes withheld 200
Poll No
8 To authorise the Directors to determine the Auditors' remuneration
Votes for/discretionary 387,973
Votes against 0
Total votes cast 387,973
Votes withheld 200
Poll No
SPECIAL BUSINESS
ORDINARY RESOLUTION
9 To authorise the Directors to allot Ordinary Shares
Votes for/discretionary 388,173
Votes against 0
Total votes cast 388,173
Votes withheld 0
Poll No
SPECIAL RESOLUTIONS
10 To authorise the Directors to allot Ordinary Shares on a non pre-emptive
basis
Votes for/discretionary 387,773
Votes against 400
Total votes cast 388,173
Votes withheld 0
Poll No
11 To authorise the Company to make market purchases of its own Ordinary Shares
Votes for/discretionary 386,573
Votes against 1,600
Total votes cast 388,173
Votes withheld 0
Poll No
12 To adopt new Articles of Association of the Company
Votes for/discretionary 388,173
Votes against 0
Total votes cast 388,173
Votes withheld 0
Poll No
13 To authorise general meetings, other than annual general meetings, to be
called on not less than 14 clear days' notice
Votes for/discretionary 387,773
Votes against 400
Total votes cast 388,173
Votes withheld 0
Poll No
Note: Any proxy votes which are at the discretion of the Chairman have been
included in the "for" total.
The proxy voting figures will shortly be available on the Company's website at
www.capitalgearingtrust.com.
Issued share capital at Meeting date: 2,794,906 Ordinary Shares of 25p each.
It was also reported at the Meeting that the unaudited Net Asset Value per share, excluding
income, on 5 July 2010 was £24.55.
In accordance with Listing Rule 9.6.2, two copies of the full text of the
special business resolutions passed will shortly be available for inspection at
the UK Listing Authority's Document Viewing Facility at -
Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
Retirement of Director
At the conclusion of the Annual General Meeting ('AGM') of the Company held
earlier today, Mr Campbell Morton retired as a Director after 12 years on the
Board. The Chairman, on behalf of the Board and the Company, would like to
express his thanks to Campbell for his service to the Company and wishes him a
happy retirement.
Change of Director Roles
Following the retirement of Mr Morton at the AGM, Mr George Prescott has been
appointed as Chairman of the Company's Audit Committee in place of Mr Morton
and Mr Graham Meek has been appointed as the Company's Senior Independent
Director in place of Mr Morton. Both of these appointments take effect
immediately.
Enquires
Keith Hawkins
TMF Corporate Secretarial Services Ltd
Email: company.secretary@capitalgearingtrust.com
Tel: 01582 439200
7 July 2010
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