Result of AGM
Source: RNS
LONDON STOCK EXCHANGE ANNOUNCEMENT
THE GLOBAL SMALLER COMPANIES TRUST PLC
(the 'Company')
Results of Annual General Meeting
LEI: 2138008RRULYQP8VP386
Information disclosed in accordance with LR 6.4.13
The Global Smaller Companies Trust PLC announces that, at the Annual General Meeting held on 13 August 2024, a poll was held on each of the 15 resolutions proposed and all were duly passed, including those detailed below:
i) An ordinary resolution giving the Directors of the Company authority to exercise all the powers of the Company to allot ordinary shares of 2.5 pence each in the capital of the Company, up to an aggregate nominal amount of £1,218,345.68 (representing approximately 10% of the Company's issued share capital (excluding treasury shares) as at 20 June 2024). This authority will expire at the conclusion of the AGM of the Company in 2025 or on the date which is 15 months after the date on which this resolution was passed (whichever is earlier), unless previously revoked, varied or extended by the Company in a general meeting;
ii) A special resolution to empower the Directors to allot equity securities for cash and to sell treasury shares for cash without first offering them to existing shareholders in proportion to their holdings up to an aggregate nominal amount of £1,218,345.68 representing approximately 10% of the Company's issued share capital (excluding treasury shares) as at 20 June 2024. This authority will expire at the conclusion of the next AGM of the Company held after the passing of this resolution or, if earlier, on the date which is 15 months after the date on which this resolution was passed, (unless previously renewed, varied or revoked by the Company in a general meeting;
iii) A special resolution authorising the Company to make market purchases of up to 71,834,793 ordinary shares, representing 14.99% of the Company's issued ordinary share capital (excluding ordinary shares held in treasury) immediately prior to the passing of this resolution. This authority will expire at the conclusion of the next AGM of the Company held after the passing of this resolution or on the date which is 15 months after the date on which this resolution was passed (whichever is earlier), unless such authority is varied, revoked or renewed prior to such time by the Company in general meeting;
iv) A special resolution authorising the Company to hold general meetings (other than annual general meetings) on 14 clear days' notice, such authority to expire at the conclusion of the next annual general meeting of the Company.
The results of the poll were as follows:
|
|
|
For |
Against |
Withheld |
Total Votes (excluding Votes Withheld) |
||
|
|
Resolution |
No of Votes |
% of Votes Cast |
No of Votes |
% of Votes Cast |
No of Votes |
|
|
1 |
Receive and adopt the audited financial statements for the year to 30 April 2024 |
288,763,887 |
99.65% |
1,012,428 |
0.35% |
1,977,850 |
289,776,315 |
|
2 |
Approve the Directors' Remuneration Policy |
254,989,367 |
92.32% |
21,216,149 |
7.68% |
15,548,649 |
276,205,516 |
|
3 |
Receive, adopt and approve the Directors' Remuneration Report for the year to 30 April 2024 |
262,137,412 |
93.66% |
17,756,935 |
6.34% |
11,859,818 |
279,894,347 |
|
4 |
To declare a final dividend |
288,723,124 |
99.60% |
1,146,616 |
0.40% |
1,884,425 |
289,869,740 |
|
5 |
To re-elect A Balfour as a Director |
272,640,518 |
96.78% |
9,074,686 |
3.22% |
10,038,961 |
281,715,204 |
|
6 |
To re-elect N Bannerman as a Director |
277,613,762 |
97.79% |
6,272,907 |
2.21% |
7,867,496 |
283,886,669 |
|
7 |
To elect B Barrett as a Director |
275,014,862 |
97.55% |
6,912,671 |
2.45% |
9,826,632 |
281,927,533 |
|
8 |
To elect R Grewal as a Director |
275,660,683 |
97.31% |
7,619,972 |
2.69% |
8,473,510 |
283,280,655 |
|
9 |
To re-elect G Oldroyd as a Director |
277,963,718 |
97.64% |
6,709,586 |
2.36% |
7,080,861 |
284,673,304 |
|
10 |
To re-appoint BDO LLP as Auditor |
277,724,632 |
97.31% |
7,671,794 |
2.69% |
6,357,739 |
285,396,426 |
|
11 |
Authority to determine the remuneration of the Auditor |
276,885,985 |
97.26% |
7,806,194 |
2.74% |
7,061,986 |
284,692,179 |
|
12 |
Authorise the Directors to allot shares |
276,531,203 |
96.38% |
10,396,929 |
3.62% |
4,826,033 |
286,928,132 |
|
13 |
Authority to allot shares/sell treasury shares without pre-emption rights |
259,847,613 |
92.94% |
19,733,105 |
7.06% |
12,170,677 |
279,580,718 |
|
14 |
Authority to purchase own shares |
274,494,181 |
95.85% |
11,889,943 |
4.15% |
5,370,041 |
286,384,124 |
|
15 |
General meeting notice period |
279,983,508 |
97.43% |
7,370,768 |
2.57% |
4,399,889 |
287,354,276 |
The full text of all the resolutions can be found in the Notice of Annual General Meeting set out in Annual Report and Financial Statements for the year ended 30 April 2024, which was submitted to the National Storage Mechanism on 28 June 2024 and is available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website globalsmallercompanies.co.uk
A copy of the poll results will also be available on the Company's website.
13 August 2024
For further information please contact:
Columbia Threadneedle Investment Business Limited
Company Secretary
Telephone: 020 7464 5000
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