REG - Lowland Inv. Co. - Result of AGM

Lowland InvestmentAnnouncement

28/01/2026 17:45

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RNS Number : 8012Q  Lowland Investment Co PLC  28 January 2026

 

JANUS HENDERSON FUND MANAGEMENT UK LIMITED

 

LOWLAND INVESTMENT COMPANY PLC

 

LEGAL ENTITY IDENTIFIER: 2138008RHG5363FEHV19

 

28 January 2026

 

LOWLAND INVESTMENT COMPANY PLC

 

Annual General Meeting held on 28 January 2026

 

Lowland Investment Company plc announces that at the Annual General Meeting
held earlier today all resolutions were duly passed on a show of hands except
for resolution 16, which was not passed on a show of hands. The Board will
review this resolution for next year's Annual General Meeting.

 

The following resolutions were passed:

 

Ordinary resolution:

 

-     Resolution 12: to authorise the Directors to allot ordinary shares
up to 10% of the issued ordinary share capital (excluding shares held in
treasury)

 

Special resolutions:

 

-     Resolution 13: to authorise the Directors to allot or to sell from
treasury up to 10% of the issued ordinary share capital (excluding shares held
on treasury) without first offering them to existing shareholders in
accordance with statutory pre-emption procedures

 

-     Resolution 14: to authorise the Company to make market purchases of
up to 14.99% of the Company's ordinary shares (excluding shares held in
treasury)

 

-     Resolution 15: to hold general meetings other than an Annual General
Meeting on not less than 14 clear days' notice

 

The Board notes the votes against the re-election of Duncan Budge as a
Director. Mr Budge has been a valued Director of the Company since July 2014.
As noted in the Annual Report, following an extensive review of his
contribution, time commitment and conduct, the Board deemed him to be
independent of the Manager, notwithstanding his length of service. The Board
has a succession plan in place and, as also noted in the Annual Report, steps
are due to be commenced this year for the recruitment of a new Director.
Following an appointment being made, the intention is that Mr Budge will
retire at the 2027 Annual General Meeting.

 

The full text of all the resolutions can be found in the Notice of Meeting
which is on pages 83 - 88 of the annual report, copies of which are available
for viewing  ion the Company's website at: www.lowlandinvesment.com
(http://www.lowlandinvesment.com) .

 

Proxy votes received in relation to each resolution were as follows:

 

 Resolutions                                                                Votes for (including at Chair's discretion)  %      Votes against  %      Total votes cast (excluding votes withheld)  Total Votes cast (excluding votes withheld) as a % of total voting rights  Votes withheld
 1    Annual Report and audited financial statements                        49,562,584                                   99.76  119,388        0.24   49,681,972                                   22.59                                                                      105,382
 2    Directors' Remuneration Report                                        48,893,880                                   99.27  359,996        0.73   49,253,876                                   22.39                                                                      533,478
 3    Directors' Remuneration Policy                                        48,826,578                                   99.25  370,550        0.75   49,197,128                                   22.37                                                                      590,226
 4    Approve a final dividend of 1.70p per share                           49,603,292                                   99.91  44,421         0.09   49,647,713                                   22.57                                                                      139,641
 5    To re-elect Duncan Budge as a Director                                42,893,684                                   86.71  6,574,178      13.29  49,467,862                                   22.49                                                                      319,492
 6    To re-elect Susan Gaynor Coley as a Director                          44,527,038                                   99.45  245,473        0.55   44,772,511                                   20.35                                                                      5,014,843
 7    To re-elect Mark Lam as a Director                                    49,166,115                                   99.66  168,619        0.34   49,334,734                                   22.43                                                                      452,620
 8    To re-elect Helena Vinnicombe as a Director                           49,135,823                                   99.63  182,963        0.37   49,318,786                                   22.42                                                                      468,568
 9    To re-elect Thomas Walker as a Director                               49,222,803                                   99.76  119,271        0.24   49,342,074                                   22.43                                                                      445,280
 10   Re-appoint Ernst & Young LLP as statutory auditor                     49,065,790                                   99.23  379,417        0.77   49,445,207                                   22.48                                                                      342,147
 11   Authorise Directors to determine the remuneration of the statutory    49,523,541                                   99.75  124,825        0.25   49,648,366                                   22.57                                                                      138,988
 Auditor
 12   Authority to allot ordinary shares                                    49,408,356                                   99.67  164,017        0.33   49,572,373                                   22.54                                                                      214,981
 13   Authority to disapply pre-emption rights on allotment or sale of      48,924,035                                   98.85  569,460        1.15   49,493,495                                   22.50                                                                      293,859
 ordinary shares*
 14   Authority to make market purchases of ordinary shares*                49,215,719                                   99.11  439,946        0.89   49,655,665                                   22.57                                                                      131,689
 15   14 days' notice for a General Meeting*                                49,188,409                                   99.07  462,175        0.93   49,650,584                                   22.57                                                                      136,770
 16   Convene a general meeting via electronic or hybrid means*             44,179,871                                   89.12  5,393,825      10.88  49,573,696                                   22.54                                                                      213,658

 

* special resolution

 

The number of ordinary shares in issue at the date of this announcement is
270,185,650 of which 50,213,385 are held in treasury. As at the date of this
announcement the Company's total voting rights therefore comprises 219,972,265
shares with one vote each.

 

A copy of the proxy results will shortly be available on the Company's website
at: www.lowlandinvestment.com (http://www.lowlandinvestment.com)

 

A copy of the special business resolutions will be submitted to the National
Storage Mechanism ("NSM") and will shortly be available for inspection on the
NSM's website at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

The Company announces that it has authority to repurchase a maximum of
32,973,842 of its ordinary shares (being its outstanding shareholder
authority). Such authority lasts until the next shareholder authority granted,
or where expressly revoked by shareholders.

 

The Company instructs J.P. Morgan Securities plc to act as its broker in
respect of its market purchase transactions. The Company may utilise the
authority to purchase shares by either a single purchase or a series of
purchases when market conditions allow when they are trading at a discount to
the underlying net asset value per share, with the aim of maximising the
benefit to shareholders. This proposal does not indicate that the Company will
purchase shares at any particular time or price, nor imply any opinion on the
part of the Directors as to the market or other value of the Company's shares.
This arrangement is in accordance with Chapter 9 of the Financial Conduct
Authority's Listing Rules and the Company's general authority to repurchase
shares.

 

 

For further information please contact:

 

Harriet Hall

PR Director, Investment Trusts

Telephone: 020 7818 2919

 

Janus Henderson Secretarial Services UK Limited

Lowland Investment Company plc

Tel: 020 7818 1818

 

Neither the contents of the Company's website nor the contents of any website
accessible from hyperlinks on the Company's website (or any other website) is
incorporated into, or forms part of, this announcement.

 

 

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