REG - Down MicroCap InvTst - Result of Meeting

Downing Strategic Micro-Cap Investment TrustAnnouncement

21/02/2025 12:00

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RNS Number : 0667Y  Downing Strategic Micro-Cap IT PLC  21 February 2025

Downing Strategic Micro-Cap Investment Trust plc

 

LEI Number: 213800QMYPUW4POFFX69

 

21 February 2025

Results of General Meeting

Further to the circular (the "Circular") and notice of General Meeting (the
"Notice") published on 29 January 2025 by Downing Strategic Micro-Cap
Investment Trust plc (the "Company"), the board of directors of the Company
announces that the special resolution to place the Company into members'
voluntary liquidation, as set out in the Notice, was voted on by way of a poll
and approved by the Company's Shareholders at the General Meeting held earlier
today. Accordingly, Derek Hyslop and Richard Barker of Ernst & Young LLP
have been appointed as joint liquidators of the Company (the "Liquidators").

The votes received for and against the resolution and the number of votes
withheld were as follows:

 resolution                                                                 votes for (including discretionary)  % (of votes cast excl. withheld)  votes against  % (of votes cast excl. withheld)  total votes cast  % (issued share capital)  votes withheld
 To approve the members' voluntary liquidation of the Company, appoint the  5,606,970                            98.31                             96,590         1.69                              5,703,560         12.50                     22,072
 Liquidators and grant the Liquidators certain powers.

The full text of the resolution can be found in the Notice contained in the
Circular. The Circular is available for viewing on the National Storage
Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the
Company's website at https://www.downingstrategic.co.uk/.

Suspension and Cancellation of Shares

As set out in the Circular, the Company's Shares were suspended from listing
on the Official List of the Financial Conduct Authority and from trading on
the main market of the London Stock Exchange at 7.30 a.m. this morning, 21
February 2025, in anticipation of the General Meeting. The Company's Shares
are expected to remain suspended from listing until, at least, after the
payment of the Initial Distribution (as defined below) after which time the
listing will be cancelled.

Initial Distribution

As set out in the Circular, the Liquidators expect to make an initial
distribution to Shareholders in the week commencing 3 March 2025 (the "Initial
Distribution"). It is expected that the Initial Distribution will be
approximately 2.0 pence per Share, which, if paid, would result in the
aggregate distributions made since 28 February 2024 (being the date on which
the Company entered into Managed Wind-Down) being approximately 65.9 pence per
Share.

Defined terms used in this announcement have the meanings given to them in the
Circular unless the context otherwise requires.

 

 Enquiries
 Ernst & Young LLP (Liquidators)
 Derek Hyslop                         DSM@parthernon.ey.com
 Richard Barker

 

 

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