Invesco
Select Trust plc
LEI:
549300JZQ39WJPD7U596
Result of
AGM
Result of
the Annual General Meeting of Invesco Select Trust plc held on
2 October 2023.
All of the
Annual General Meeting resolutions were decided by poll and were
passed.
The poll
results were as follows.
Resolutions applicable
to all share classes, with voting rights based on the net asset
values of the respective share classes at close of business on
29 September 2023.
Ordinary
Resolutions:
Resolution
Ordinary
resolutions:
|
Votes
For
(including votes
at
the
discretion of
the
Chairman)
|
%
|
Votes
Against
|
%
|
Votes
Withheld
|
1.
|
40,129,904
|
99.9%
|
36,190
|
0.1%
|
19,151
|
2.
|
39,348,630
|
98.7%
|
513,264
|
1.3%
|
323,351
|
3.
|
39,425,956
|
99.0%
|
420,222
|
1.1%
|
339,067
|
4.
|
39,113,091
|
97.9%
|
861,092
|
2.2%
|
211,062
|
5.
|
39,128,916
|
97.9%
|
835,658
|
2.1%
|
220,671
|
6.
|
39,079,257
|
97.8%
|
885,316
|
2.2%
|
220,671
|
7.
|
39,118,382
|
97.9%
|
821,314
|
2.1%
|
245,548
|
8.
|
39,117,553
|
97.9%
|
847,020
|
2.1%
|
220,671
|
9.
|
39,721,206
|
98.9%
|
437,328
|
1.1%
|
26,710
|
10.
|
39,740,243
|
99.0%
|
399,758
|
1.0%
|
45,243
|
13.
|
39,589,906
|
98.9%
|
437,337
|
1.1%
|
72,440
|
Special
Resolutions:
Resolution
Special
resolutions:
|
Votes
For
(including votes
at
the
discretion of
the
Chairman)
|
%
|
Votes
Against
|
%
|
Votes
Withheld
|
14.
|
39,247,191
|
98.0%
|
788,360
|
2.0%
|
64,131
|
15.
|
39,168,861
|
97.8%
|
864,916
|
2.2%
|
65,906
|
16.
|
39,641,217
|
99.0%
|
407,328
|
1.0%
|
51,137
|
Total
Voting Rights applicable to the above resolutions were
200,492,149.
Resolution
11, an Ordinary Resolution, was applicable only to the UK Equity
Share class, with voting rights being one vote per
share:
|
|
|
|
|
|
|
|
Resolution
Ordinary
resolution:
|
Votes
For
(including votes
at
the
discretion of
the
Chairman)
|
%
|
Votes
Against
|
%
|
Votes
Withheld
|
|
11
|
15,189,533
|
99.6%
|
65,776
|
0.4%
|
46,573
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Voting Rights applicable for this resolution were
68,010,452.
Resolution
12, an Ordinary Resolution, was applicable only to the Global
Equity Income Share class, with voting rights being one vote per
share:
Resolution
Ordinary
resolution
|
Votes
For
(including votes
at
the
discretion of
the
Chairman)
|
%
|
Votes
Against
|
%
|
Votes
Withheld
|
12
|
4,374,955
|
99.9%
|
6,516
|
0.1%
|
2,207
|
Total
Voting Rights applicable for this resolution were
25,177,374.
The full
text of the resolutions passed is as follows:
Ordinary
Resolutions applicable to all share classes:
The
following Ordinary Resolutions were passed at the Annual General
Meeting held on 2 October
2023:
1.
To receive the Annual
Financial Report for the year ended 31 May
2023.
2.
To approve the
Directors’ Remuneration Policy.
3.
To approve the Annual
Statement and Report on Remuneration.
4.
To re-elect
Craig Cleland as a Director of the
Company.
5. To
re-elect Davina Curling as a
Director of the Company.
6.
To re-elect
Mark Dampier as a Director of the
Company.
7. To
re-elect Victoria Muir as a Director
of the Company.
8. To
re-elect Tim Woodhead as a Director
of the Company.
9.
To re-appoint Grant
Thornton UK LLP as Auditor to the Company
10.
To
authorise the Audit Committee to determine the Auditor’s
remuneration.
Ordinary
Resolution applicable only to the UK Equity Share Class:
11.
To approve the UK
Equity Share Class Portfolio dividend payment policy as set out on
page 46 of the 2023 annual financial report.
Ordinary
Resolution applicable only to the Global Equity Income Share
Class:
12.
To approve the Global
Equity Income Share Class Portfolio dividend payment policy as set
out on page 46 of the 2023 annual financial report.
13.
That: the
Directors be and they are hereby generally and unconditionally
authorised, for the purpose of section 551 of the Companies Act
2006 as amended from time to time prior to the date of passing this
resolution (‘2006 Act’) to exercise all the powers of the Company
to allot relevant securities (as defined in sections 551(3) and (6)
of the 2006 Act) up to an aggregate nominal amount equal to
£457,684 of UK Equity Shares, £168,297 of Global Equity Income
Shares, £28,117 of Balanced Risk Allocation Shares and £8,360 of
Managed Liquidity Shares, provided that this authority shall expire
at the conclusion of the next AGM of the Company or the date
falling 15 months after the passing of this resolution, whichever
is the earlier, but so that such authority shall allow the Company
to make offers or agreements before the expiry of this authority
which would or might require relevant securities to be allotted
after such expiry and the Directors may allot relevant securities
in pursuance of such offers or agreements as if the power conferred
hereby had not expired.
Special
Resolutions:
The
following Special Resolutions were passed at the Annual General
Meeting held on
2 October 2023:
14. That:
the Directors be and they are hereby empowered, in accordance with
sections 570 and 573 of the Companies Act 2006 as amended from time
to time prior to the date of the passing of this resolution (‘2006
Act’) to allot Shares in each class (UK Equity, Global Equity
Income, Balanced Risk Allocation and Managed Liquidity) for cash,
either pursuant to the authority given by resolution 13 or (if such
allotment constitutes the sale of relevant Shares which,
immediately before the sale, were held by the Company as treasury
shares) otherwise, as if section 561 of the 2006 Act did not apply
to any such allotment, provided that this power shall be
limited:
(a) to the
allotment of Shares in connection with a rights issue in favour of
all holders of a class of Share where the Shares attributable
respectively to the interests of all holders of Shares of such
class are either proportionate (as nearly as may be) to the
respective numbers of relevant Shares held by them or are otherwise
allotted in accordance with the rights attaching to such Shares
(subject in either case to such exclusions or other arrangements as
the Directors may deem necessary or expedient in relation to
fractional entitlements or legal or practical problems under the
laws of, or the requirements of, any regulatory body or any stock
exchange in any territory or otherwise);
(b) to the
allotment (otherwise than pursuant to a rights issue) of equity
securities up to an aggregate nominal amount of £68,652 of UK
Equity Shares, £25,244 of Global Equity Income Shares, £4,217 of
Balanced Risk Allocation Shares and £1,254 of Managed Liquidity
Shares; and
(c) to the
allotment of equity securities at a price of not less than the net
asset value per Share as close as practicable to the allotment or
sale
and this
power shall expire at the conclusion of the next AGM of the Company
or the date 15 months after the passing of this resolution,
whichever is the earlier, but so that this power shall allow the
Company to make offers or agreements before the expiry of this
power which would or might require equity securities to be allotted
after such expiry as if the power conferred by this resolution had
not expired; and so that words and expressions defined in or for
the purposes of Part 17 of the 2006 Act shall bear the same
meanings in this resolution.
15. That:
the Company be generally and subject as hereinafter appears
unconditionally authorised in accordance with section 701 of the
Companies Act 2006 as amended from time to time prior to the date
of passing this resolution (‘2006 Act’) to make market purchases
(within the meaning of section 693(4) of the 2006 Act) of its
issued Shares in each Share class (UK Equity, Global Equity Income,
Balanced Risk Allocation and Managed Liquidity).
PROVIDED
ALWAYS THAT:
(i) the
maximum number of Shares hereby authorised to be purchased shall be
14.99% of each class of the Company’s share capital as at the date
of the AGM;
(ii) the
minimum price which may be paid for a Share shall be 1p;
(iii) the
maximum price which may be paid for a Share in each Share class
must not be more than the higher of:
(a) 5%
above the average of the mid-market values of the Shares for the
five business days before the purchase is made; and
(b) the
higher of the price of the last independent trade in the Shares and
the highest then current independent bid for the Shares on the
London Stock Exchange;
(iv) any
purchase of Shares will be made in the market for cash at prices
below the prevailing net asset value per Share (as determined by
the Directors);
(v) the
authority hereby conferred shall expire at the conclusion of the
next AGM of the Company or, if earlier, on the expiry of 15 months
from the passing of this resolution unless the authority is renewed
at any other general meeting prior to such time; and
(vi) the
Company may make a contract to purchase Shares under the authority
hereby conferred prior to the expiry of such authority which will
be executed wholly or partly after the expiration of such authority
and may make a purchase of Shares pursuant to any such
contract.
16. That:
the period of notice required for general meetings of the Company
(other than Annual General Meetings) shall be not less than 14
days.
Invesco
Asset Management Limited
Corporate
Company Secretary
3 October
2023