REG - Herald Inv Trust PLC - Glass Lewis recommends vote "AGAINST" Resolutions

Herald Investment TrustAnnouncement

16/01/2025 07:00

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RNS Number : 5045T  Herald Investment Trust PLC  16 January 2025

          16 January 2025

 

 

 

Herald Investment Trust plc

LEI: 213800U7G1ROCTJYRR70

Glass Lewis recommends shareholders vote "AGAINST" the Requisitioned
Resolutions

 

The Board of Herald Investment Trust plc ("Herald" or the "Company") notes the
publication of the voting recommendation from Glass Lewis, the independent
proxy adviser, in relation to the Company's forthcoming general meeting to be
held on 22 January 2025 at 12 noon (the "General Meeting").

 

Glass Lewis has recommended that Herald Investment Trust shareholders vote
"AGAINST" the Requisitioned Resolutions at the General Meeting on 22 January
2025.

ISS also recommended that Shareholders should vote against the Requisitioned
Resolutions.

This recommendation is in line with the unanimous recommendation of the
Company's Board which has previously outlined its recommendation to VOTE
AGAINST the proposed Requisitioned Resolutions for the reasons set out in the
Circular posted to Shareholders on 3 January 2025 and available on the
Company's website at https://defence.heralduk.com/
(https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdefence.heralduk.com%2F&data=05%7C02%7Celfie.kent%40camarco.co.uk%7Cefed0c01e1fb412f2fee08dd33e657ae%7C77a5f6209d7747dba0cd64c70948d532%7C1%7C0%7C638723786599208352%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=DdlyZU805WmIpNzjKurvHzM6FbzK%2F%2FBug5E75uC%2FKY4%3D&reserved=0)
.

 

Andrew Joy, Chairman of Herald Investment Trust plc, said:

"The Board of Herald welcomes and is encouraged by the recommendation from
Glass Lewis for Shareholders to VOTE AGAINST the Requisitioned Resolutions
proposed by Saba at the General Meeting on 22 January 2025, adding further
support to the recommendation already received from ISS. The recommendations
from both the independent proxy bodies support our belief that the proposals
from Saba are not in the best interests of all Shareholders, and we strongly
urge all Shareholders to VOTE AGAINST the Requisitioned Resolutions proposed."

 

General Meeting and How to Vote

 

The General Meeting to vote on the Requisitioned Resolutions will be held at
10-11 Charterhouse Square, London EC1M 6EE on 22 January 2025 at 12 noon.

Investors who hold their Shares through an investment platform provider or
nominee are encouraged to contact their investment platform provider or
nominee as soon as possible to arrange for VOTES AGAINST each of the
Requisitioned Resolutions to be lodged on their behalf. Further information on
how to vote through platforms can be found at the following
link: https://www.theaic.co.uk/how-to-vote-your-shares
(https://www.theaic.co.uk/how-to-vote-your-shares)

 

For further information please contact:

  Herald Investment Trust plc                                          via Camarco
 Andrew Joy (Chairman)

 Camarco (Media enquiries)                                             +44 (0)20 3757 4980
 Billy Clegg / Ben Woodford / Eddie Livingstone-Learmonth              Herald@camarco.co.uk (mailto:Herald@camarco.co.uk)

 Singer Capital Markets (Corporate Broker)                             +44 (0)20 7496 3000
 Alan Geeves / Sam Greatrex / James Waterlow / William Gumpel (Sales)

 James Maxwell / Alaina Wong (Investment Banking)

 J.P. Morgan Cazenove (Financial Adviser)                              +44 (0)20 3493 8000
 William Simmonds / Rupert Budge

 NSM Funds (UK) Limited (Company Secretary)                            HIT@nsm.group (mailto:HIT@nsm.group)
 Brian Smith / Shilla Pindoria

 

Important information

Capitalised terms used throughout this announcement shall have the meanings
ascribed to them on pages 18 to 21 of the circular published by the Company on
3 January 2025 (the "Circular"), unless the context otherwise requires.

Neither the content of the websites referred to in this announcement, nor the
content of any other website accessible from hyperlinks on such websites, is
incorporated into, or forms part of, this announcement.

 

 

 

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