F&C Investment Trust PLC Result of AGM (9382X)
May 02 2019 - 10:44AM
UK Regulatory
TIDMFCIT
RNS Number : 9382X
F&C Investment Trust PLC
02 May 2019
F&C Investment Trust PLC
LEI: 213800W6B18ZHTNG7371
Results of Annual General Meeting held on 2 May 2019
At the Company's AGM held on 2 May 2019 all resolutions were
passed, including those detailed below:
-- An ordinary resolution renewing the Directors' general
authority to allot shares up to an aggregate nominal amount of
GBP6,700,000 being equivalent to approximately 5% of the Company's
issued share capital (excluding treasury shares). This authority
will expire at the conclusion of the next AGM of the Company in
2020 or 30 June 2020 (whichever is earlier) unless previously
revoked, varied or extended.
-- A special resolution renewing the Directors' authority to
allot shares and to sell treasury shares on a non-pre-emptive basis
up to an aggregate nominal amount of GBP6,700,000 being equivalent
to approximately 5% of the Company's issued share capital
(excluding treasury shares). This authority will expire at the
conclusion of the next AGM of the Company in 2020 or 30 June 2020
(whichever is earlier) unless previously revoked, varied or
extended.
-- A special resolution renewing the Directors' authority to
make market purchases of up to 81,270,000 ordinary shares of 25p
being equivalent to approximately 14.99% of the Company's issued
share capital (excluding treasury shares). This authority will
expire at the conclusion of the next AGM of the Company in 2020 or
30 June 2020 (whichever is earlier) unless previously revoked,
varied or extended.
-- A special resolution adopting new articles of association in
substitution for the existing articles of association.
Any buyback may be funded from the Company's own cash resources
or, if appropriate, from short term borrowings. The maximum price
payable per share (exclusive of expenses) must not exceed the
higher of: (i) 105% of the average middle market quotations for the
five business days preceding the date of purchase; and (ii) the
higher of the last independent bid and the highest current
independent bid on the London Stock Exchange. Shares repurchased
will either be held in treasury or cancelled.
The Company instructs J.P. Morgan Securities plc to act as its
broker in respect of its buy-back transactions. Any buybacks will
be undertaken in accordance with the Company's discount control
policy. This arrangement is in accordance with Chapter 12 of the
UKLA Listing Rules and the Company's general authority to
repurchase shares.
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 National Storage
Mechanism at www.morningstar.co.uk/uk/nsm or on the Company's
website www.fandcit.com
A copy of the Fund Manager's presentation, speech and a summary
of proxy votes received will shortly be available on the Company's
website www.fandcit.com
Name of contact and telephone number for enquiries:
Hugh Potter
For and on behalf of BMO Investment Business Limited,
Secretary
020 7628 8000
2 May 2019
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END
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