REG - Down MicroCap InvTst - Result of AGM

Downing Strategic Micro-Cap Investment TrustAnnouncement

21/08/2024 13:30

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RNS Number : 3054B  Downing Strategic Micro-Cap IT PLC  21 August 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. ON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Downing Strategic Micro-Cap Investment Trust plc (the "Company" or "DSM")

LEI Number: 213800QMYPUW4POFFX69

Results of Annual General Meeting

 

Introduction

 

The Board of Directors of DSM announces the results of the Annual General
Meeting of the Company held at 12.00 noon today. As set out in the Notice of
Annual General Meeting circular to Shareholders dated 5 June 2024 (the
"Notice"), the Resolutions proposed at the Annual General Meeting comprised,
in summary:

 

§ ordinary business:

a)   to receive the Directors Report and the Financial Statements for the
year ended 29 February 2024 with the report of the Auditor thereon;

b)   to approve the Directors Remuneration Report for the year ended 29
February 2024;

c)   to approve the Directors Remuneration Policy;

d)   to re-elect Hugh Aldous as a director;

e)   to re-appoint BDO LLP as auditor to the company;

f)    to authorise, the Audit Committee to determine the auditor's
remuneration;

§ special business, as a special resolution:

a)   to make market purchases of the up to 14.99% of the Company's Ordinary
Shares,

All Resolutions were voted on by way of a poll and the results of the poll are
shown below.

 

Results of Annual General Meeting

 

 Resolution                                                                   Votes For   % (of votes cast excl. withheld)  Votes Against  % (of votes cast excl. withheld)  Total votes cast  %          Votes Withheld

                                                                                                                                                                                               (issued

                                                                                                                                                                                               share

                                                                                                                                                                                               capital)
 Ordinary resolutions
 1.   to receive the Directors Report and the Financial Statements for the    17,981,376  98.43%                               286,031     1.57%                             18,267,407        40.02%
 year ended 29 February 2024 with the report of the Auditor thereon.

                                                                                                                                                                                                            20,486

 2.   to approve the Directors Remuneration Report for the year ended 29      17,623,330  96.82%                               578,746     3.18%                             18,202,076        39.88%     85,817
 February 2024.
 3.   to approve the Directors Remuneration Policy.                           17,585,508  96.64%                               610,766     3.36%                             18,196,274        39.86%     91,619
 4.   to re-elect Hugh Aldous as a director.                                  13,008,714  71.28%                            5,240,234      28.72%                            18,248,948        39.98%     38,945
 5.   to re-appoint BDO LLP as auditor to the company.                        17,911,287  98.06%                               353,865     1.94%                             18,265,152        40.02%     22,741
 6.   to authorise, the Audit Committee to determine the auditor's            17,964,822  98.27%                            316,763        1.73%                             18,281,585        40.05%     15,864
 remuneration.
 Special resolution
 7.   to make market purchases of up to 14.99% of the Company's Ordinary      13,051,091  71.48%                            5,208,317      28.52%                            18,259,408        40.00%     38,041
 Shares.

 

Shareholders are entitled to one vote per Share. Votes withheld are not a vote
in law and are therefore not counted in the calculation of the percentages of
the votes cast for and against a resolution. Where Shareholders appointed the
Chair as their proxy with discretion as to voting, their votes were cast
against all Requisitioned Resolutions and their Shares have been included in
the "votes against" column.

The total number of Shares in issue is 45,645,241. The Company holds no Shares
in treasury. The Company has one non-redeemable preference management share of
1 penny in issue. The non-redeemable preference management share does not
carry any voting rights. Each Share held outside of treasury carries a right
to one vote at a general meeting of the Company. Therefore, the total number
of voting rights in the Company is 45,645,241 votes.

The full text of the Resolutions can be found in the Notice of Annual General
Meeting contained in the Annual Report and Financial Statements available for
viewing on the National Storage Mechanism at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) and on the Company's
website at https://www.downingstrategic.co.uk/
(https://www.downingstrategic.co.uk/) .

Defined terms used in this announcement have the meanings given to them in the
Annual Report and Financial Statements unless the context otherwise requires.

 

For further information please contact:

 

Chairman

Hugh Aldous                             tel: 020
7416 7780

 

Dickson Minto Advisers LLP

Douglas Armstrong                   tel: 020 7649 6823

 

Media Contacts - Garfield Advisory

Andrew Garfield                           tel: 07974
982337

Jason Nisse                                tel:
07769 688618

 

The person responsible for arranging for the release of this announcement on
behalf of the Company is ISCA Administration Services Limited, the Company
Secretary.

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