25 February 2022

RUFFER INVESTMENT COMPANY LIMITED

(a closed-ended investment company incorporated in Guernsey with registration number 41996)

(the "Company")

Result of Extraordinary General Meeting

The Board of the Company is pleased to announce that the resolution proposed at the extraordinary general meeting of the Company held earlier today (the "Resolution") was approved by shareholders on a poll. 

Terms used and not defined in this announcement shall have the meanings given to them in the circular to shareholders published by the Company on 7 February 2022 (the "Circular").

The number of shares voted in person or by proxy on the Resolution which was proposed as a special resolution was as follows:

Special Resolution

That pursuant to Article 7.2(g) of the articles of incorporation of the Company (the 'Articles'), the provisions of Article 7.2(b) of the Articles shall not apply and shall be excluded in relation to the issue for cash, at a price of not less than the net asset value per redeemable participating preference share of 0.01 pence each in the capital of the Company ('Share') plus the costs of the exercise at the time of any such issue, of up to an aggregate number of equity securities (as defined in the Articles) as represents 10% of the number of Shares admitted to trading on London Stock Exchange plc's main market for listed securities immediately following the passing of this resolution, provided that such disapplication and exclusion shall expire on the date which is 18 months from the date of the passing of this resolution or, if earlier, at the conclusion of the next annual general meeting of the Company following the date of the passing of this resolution (unless previously renewed, revoked or varied by the Company by special resolution) save that the Company may before such expiry make an offer or agreement which would or might require Shares to be allotted after such expiry and the directors of the Company may allot Shares in pursuance of such an offer or agreement as if the disapplication and exclusion conferred hereby had not expired. The authority conferred by this resolution is in addition to any existing authority to allot equity securities on a non-pre-emptive basis.

71,246,029 votes were in favour of the Resolution (99.39% of votes cast) and 436,737 votes were against the Resolution (0.61% of votes cast). 212,838 votes were withheld on the Resolution and such votes have not been counted in determining the proportion of votes cast for or against the Resolution.

Block Listing Application

An application has been made to the Financial Conduct Authority and London Stock Exchange for the block listing of 26,312,563 Shares with an admission date of 1 March 2022.

Shares will be issued under the block listing to satisfy continuing demand that cannot be met through the secondary market, and the net proceeds of share issuance under the block listing will be invested in accordance with the Company's published investment policy. The Shares issued under the block listing will, when issued, rank pari passu with the existing Shares of the Company.

Enquiries:

Sanne Fund Services (Guernsey) Limited

Company Secretary

Katrina Rowe

DDI: +44(0)1481 737673

Email: ric@praxisifm.com 

Investec Bank plc

Broker

David Yovichic

DDI: +44(0)20 7597 4952

Email: David.yovichic@investec.co.uk 

LEI 21380068AHZKY7MKNO47