Investment Company PLC Result of AGM and GM (2623E)
04 Noviembre 2020 - 05:53AM
UK Regulatory
TIDMINV
RNS Number : 2623E
Investment Company PLC
04 November 2020
LEI: 2138004PBWN5WM2XST62
The Investment Company PLC
(the "Company")
Results of the Annual and General Meetings
Appointment of New Directors
The Company is pleased to announce that at its Annual General
Meeting ("AGM") and General Meeting ("GM") held earlier today, all
resolutions, including that the Company continue in existence and
the proposed change to its investment objective and policy, were
duly passed. Over 99% of the proxy votes received in relation to
the proposed change of investment objective and policy and proposed
change to the articles of association, were cast in favour.
The Company is a closed-ended investment company which,
following the passing of the resolutions at the GM, has a new
investment objective whereby it aims to protect the purchasing
power of shareholders' capital in real terms, and to participate in
enduring economic activities which lend themselves to genuine
capital accumulation and wealth creation.
Results of the AGM
The Company is pleased to announce that all of the ordinary
resolutions put to shareholders at the AGM were voted on by a show
of hands and were passed. In addition, the following special
resolutions were also voted on by a show of hands and passed:
-- to allow the disapplication of pre-emption rights on the
allotment of new ordinary shares up to an aggregate nominal amount
of GBP477,204;
-- to allow the Company to make market purchases of up to
715,330 ordinary shares, representing 14.99% of the Company's
issued share capital; and
-- to allow the Directors to call a General Meeting, other than
an Annual General Meeting on not less than 14 days' notice.
The full text of all the resolutions can be found in the Notice
of AGM contained in the Company's Annual Report and Accounts which
is available for viewing on the FCA's National Storage Mechanism at
data.fca.org.uk/#/nsm/nationalstoragemechanism as well as from the
Company's website at :
https://www.maitlandgroup.com/investment-trusts/the-investment-company-plc/
A summary of proxy votes received will be available shortly on
the Company's website at:
https://www.maitlandgroup.com/investment-trusts/the-investment-company-plc/
.
Results of the GM
The Company is pleased to announce that all of the resolutions
put to shareholders at the GM were passed by a show of hands. The
full text of all the resolutions can be found in the Circular to
Shareholders dated 7 October 2020 which is available for viewing on
the FCA's National Storage Mechanism at
data.fca.org.uk/#/nsm/nationalstoragemechanism as well as from the
Company's website at:
https://www.maitlandgroup.com/investment-trusts/the-investment-company-plc/
A summary of proxy votes received will shortly be available on
the Company's website at:
https://www.maitlandgroup.com/investment-trusts/the-investment-company-plc/
Appointment of New Directors
Following the passing of the resolutions at the GM, the Company
is pleased to announce the appointment of Tom Cleverly and Michael
Weeks as additional non-executive directors of the Company with
immediate effect.
Tom Cleverly spent the 10 years to 2011 in the audit profession,
working for Grant Thornton in the UK and subsequently as a senior
audit manager with Mazars in Bermuda. He served on the board of
Edelweiss Holdings plc between November 2011 and September 2015,
and has since held directorships in Edelweiss group companies, and
currently serves as the company's treasurer and member of its
executive committee. He is a director of Kayson Green Limited, a
family-controlled distributor of abrasive products, based in the
UK. Mr Cleverly holds a degree in accounting and finance from the
University of Plymouth and is a Fellow Member of the Institute of
Chartered Accountants in England and Wales. He is a British citizen
and resident of the UK. Mr Cleverly holds 61 shares in the
Company.
Michael Weeks joined the investment team of Edelweiss Holdings
plc in 2011, where he has since served as an analyst, head of
research and, since 2014, as director in different Edelweiss group
companies. He is a CFA charterholder and holds degrees in chemical
engineering and philosophy from Rice University. He is a US citizen
and resident in Switzerland.
There is no further information to be disclosed under Listing
Rule 9.6.13R for Mr Cleverly or Mr Weeks.
Ian Digh é, Chairman of The Investment Company plc, said:
"I am pleased to report that we have received overwhelming
shareholder support for the proposals. Following the changes
implemented today we intend to focus on an investment framework
that values business judgment over formulas and where the directors
and shareholders share a common purpose of preserving and growing
their savings over the long term. I look forward to keeping
shareholders regularly updated as we implement our new investment
objective and policy."
Enquiries
The Investment Company
Ian Dighé +44 (0) 20 3934 6630
info@theinvestmentcompanyplc.co.uk
Shore Capital (Financial Adviser
and Broker)
Robert Finlay +44 (0) 20 7408 4090
Rose Ramsden
Maitland Administration Services
Faith Pengelly +44 (0) 1245 950317
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