New Star Investment Trust PLC: AGM Result and Performance Fee (913615)
14 Noviembre 2019 - 11:40AM
UK Regulatory
New Star Investment Trust PLC (NSI)
New Star Investment Trust PLC: AGM Result and Performance Fee
14-Nov-2019 / 17:40 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
NEW STAR INVESTMENT TRUST PLC
AGM RESULT & PERFORMANCE FEE ANNOUNCEMENT
New Star Investment Trust plc (the 'Company') announces that at the Annual
General Meeting of the Company duly convened and held today, 14 November
2019, all Resolutions as set out in the Notice of Meeting were passed on a
show of hands. The full text of each resolution can be found in the Annual
Report and Accounts for the year ended 30 June 2019, which is available at
www.nsitplc.com. In accordance with listing rule 9.6.2 a copy of all
resolutions passed as Special Business at the Meeting will be available for
inspection at the National Storage Mechanism shortly. Proxy votes received
for the resolutions are shown below.
PERFORMANCE FEE
The performance fee arrangements were agreed in 2008, just before the
financial crisis, with a hurdle rate based on Libor, when Libor was above
5%. The investment manager and the Board have discussed the appropriateness
of the performance fee methodology given that we appear to be in a lower
interest rate environment. The investment manager and the company no longer
believe that the performance fee methodology is appropriate and have agreed
that with effect from the first of January 2020, the performance fee
arrangement will cease. Therefore the period to 31 December 2019 will be the
last period for which the manager will be eligible for a performance fee.
There will be no changes to the annual management fee charged by the
investment manager.
AGM PROXY VOTING
Votes for Votes % (of Votes % (of Total Votes
discre votes again votes votes withhe
tionar cast for st cast (excl ld
y & agains .
discreti t) withh
onary) eld)
Resolution 1 48,146,09 22,146 100.00% 0 0.00% 48,16 3,340
0 8,236
Resolution 2 48,134,09 22,146 99.98% 12,00 0.02% 48,16 3,340
0 0 8,236
Resolution 3 48,149,43 22,146 100.00% 0 0.00% 48,17 0
0 1,576
Resolution 4 48,052,83 22,146 99.98% 10,00 0.02% 48,08 86,591
9 0 4,985
Resolution 5 47,981,85 22,146 100.00% 0 0.00% 48,00 167,57
6 4,002 4
Resolution 6 47,971,85 22,146 99.98% 10,00 0.02% 48,00 167,57
6 0 4,002 4
Resolution 7 48,139,43 22,146 99.98% 10,00 0.02% 48,17 0
0 0 1,576
Resolution 8 48,139,43 22,146 99.98% 10,00 0.02% 48,17 0
0 0 1,576
Resolution 9 48,137,43 22,146 99.98% 12,00 0.02% 48,17 0
0 0 1,576
Resolution 48,149,43 22,146 100.00% 0 0.00% 48,17 0
10 0 1,576
Resolution 48,149,43 22,146 100.00% 0 0.00% 48,17 0
11 0 1,576
Resolution 48,139,43 22,146 99.98% 10,00 0.02% 48,17 0
12 0 0 1,576
Maitland Administration Services Limited - Corporate Secretary
14 November 2019
ISIN: GB0002631041
Category Code: RAG
TIDM: NSI
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 29358
EQS News ID: 913615
End of Announcement EQS News Service
(END) Dow Jones Newswires
November 14, 2019 12:40 ET (17:40 GMT)
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