REG-New Star Investment Trust PLC New Star Investment Trust PLC: AGM Result and Performance Fee

New Star Investment TrustAnnouncement

14/11/2019 17:45

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New Star Investment Trust PLC (NSI)
New Star Investment Trust PLC: AGM Result and Performance Fee
14-Nov-2019 / 17:40 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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NEW STAR INVESTMENT TRUST PLC

AGM RESULT & PERFORMANCE FEE ANNOUNCEMENT

New Star Investment Trust plc (the 'Company') announces that at the Annual General
Meeting of the Company duly convened and held today, 14 November 2019, all Resolutions
as set out in the Notice of Meeting were passed on a show of hands. The full text of
each resolution can be found in the Annual Report and Accounts for the year ended 30
June 2019, which is available at www.nsitplc.com. In accordance with listing rule 9.6.2
a copy of all resolutions passed as Special Business at the Meeting will be available
for inspection at the National Storage Mechanism shortly. Proxy votes received for the
resolutions are shown below.

PERFORMANCE FEE

The performance fee arrangements were agreed in 2008, just before the financial crisis,
with a hurdle rate based on Libor, when Libor was above 5%. The investment manager and
the Board have discussed the appropriateness of the performance fee methodology given
that we appear to be in a lower interest rate environment. The investment manager and
the company no longer believe that the performance fee methodology is appropriate and
have agreed that with effect from the first of January 2020, the performance fee
arrangement will cease. Therefore the period to 31 December 2019 will be the last
period for which the manager will be eligible for a performance fee. There will be no
changes to the annual management fee charged by the investment manager.

AGM PROXY VOTING

                                    % (of votes            % (of    Total
           Votes for  Votes         cast for &     Votes   votes    votes      Votes
                      discretionary discretionary) against cast     (excl.     withheld
                                                           against) withheld)
Resolution 48,146,090        22,146        100.00%       0    0.00% 48,168,236    3,340
1
Resolution 48,134,090        22,146         99.98%  12,000    0.02% 48,168,236    3,340
2
Resolution 48,149,430        22,146        100.00%       0    0.00% 48,171,576        0
3
Resolution 48,052,839        22,146         99.98%  10,000    0.02% 48,084,985   86,591
4
Resolution 47,981,856        22,146        100.00%       0    0.00% 48,004,002  167,574
5
Resolution 47,971,856        22,146         99.98%  10,000    0.02% 48,004,002  167,574
6
Resolution 48,139,430        22,146         99.98%  10,000    0.02% 48,171,576        0
7
Resolution 48,139,430        22,146         99.98%  10,000    0.02% 48,171,576        0
8
Resolution 48,137,430        22,146         99.98%  12,000    0.02% 48,171,576        0
9
Resolution 48,149,430        22,146        100.00%       0    0.00% 48,171,576        0
10
Resolution 48,149,430        22,146        100.00%       0    0.00% 48,171,576        0
11
Resolution 48,139,430        22,146         99.98%  10,000    0.02% 48,171,576        0
12

 

Maitland Administration Services Limited - Corporate Secretary

14 November 2019

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   ISIN:           GB0002631041
   Category Code:  RAG
   TIDM:           NSI
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   29358
   EQS News ID:    913615


    
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