SCOTTISH MORTGAGE INVESTMENT TRUST PLC
Legal Entity Identifier: 213800G37DCS3Q9IJM38
Annual General Meeting, 27 June 2023
At the Annual General Meeting ('AGM') held on 27 June 2023 all resolutions were passed, including those detailed below.
Shareholders approved an ordinary resolution granting the Directors' general authority to issue shares up to an aggregate nominal amount of £7,038,092.60 representing approximately 10% of the total issued share capital (excluding treasury shares) of the Company as at 12 May 2023. This authority will expire on 27 September 2024 or, if earlier, at the conclusion of the AGM of the Company to be held in 2024 (unless previously varied, revoked or renewed).
· Shareholders approved a special resolution granting the Company authority to allot equity securities or sell treasury shares for cash on a non pre-emptive basis up to £7,038,092.60, being approximately 10% of the issued share capital (excluding treasury shares) of the Company as at 12 May 2023. The Directors do not intend to use these powers to issue shares or sell treasury shares at a discount to net asset value on the basis of debt valued at fair value. This authority will expire on 27 September 2024 or, if earlier, at the conclusion of the AGM to be held in 2024 (unless previously varied, revoked or renewed).
· Shareholders approved under Special Business an ordinary resolution authorising the Directors for the purposes of LR15.4.11 of the Listing Rules of the UK Listing Authority of the Financial Conduct Authority to issue shares or sell treasury shares (as defined in section 724 of the Companies Act 2006) for cash at a price below the net asset value per share of those shares without first offering those shares pro rata to existing Shareholders.
· Shareholders approved a special resolution renewing the Company's authority to make market purchases of up to 14.99% of the Company's issued share capital (excluding treasury shares), being 210,915,824 ordinary shares of 5 pence. The Company's authority permits it to hold shares bought back "in treasury". Such treasury shares may subsequently be either sold for cash or cancelled. This authority will expire at the conclusion of the AGM to be held in 2024 (unless previously varied, revoked or renewed).
The full text of all the resolutions can be found in the Notice of Annual General Meeting which is available for viewing at the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
Baillie Gifford & Co Limited
Company Secretaries
28 June 2023
Regulated Information Classification: Additional regulated information required to be disclosed under applicable laws and regulation.
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