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Result of AGM

Thu, 14th Mar 2019 15:28

BlackRock Income and Growth Investment Trust Plc - Result of AGM

PR Newswire

BlackRock Income & Growth Investment Trust plc

(the Company)

(LEI: 5493003YBY59H9EJLJ16)

Results of AGM

Following the Annual General Meeting which was held today, we are pleased to announce that all resolutions put to shareholders were passed on a vote on a show of hands, including ordinary resolution 10 and special resolutions 11 and 12 under special business of the Company:

(Resolution 10) To grant the Directors’ authority to allot shares

(Resolution 11) To authorise the Directors to dissaply pre-emption rights in respect of issues of new shares or the sale of ordinary shares out of treasury.

(Resolution 12) To authorise the Directors to purchase the Company’s ordinary shares for cancellation or to be held in treasury.

Under listing rule 9.6.2 a copy of the resolutions has been submitted to the National Storage Mechanism, and will shortly be made available for inspection at:

Proxy votes received in favour of the resolutions were as follows:

Votes for & Discretionary (%) Votes
(%) Abstain
Resolution 1: 3,564,141 100.00 21 0.00 0
Resolution 2: 3,542,706 99.58 14,971 0.42 6,485
Resolution 3: 3,564,162 100.00 0 0.00 0
Resolution 4: 3,561,269 99.95 1,843 0.05 1,050
Resolution 5: 3,561,269 99.95 1,843 0.05 1,050
Resolution 6: 3,560,269 99.92 2,843 0.08 1,050
Resolution 7: 3,561,269 99.95 1,843 0.05 1,050
Resolution 8: 3,537,128 99.92 2,875 0.08 24,159
Resolution 9: 3,555,872 99.95 1,825 0.05 6,465
Resolution 10: 3,537,419 99.72 10,006 0.28 16,737
Resolution 11: 3,544,885 99.74 9,277 0.26 10,000
Resolution 12: 3,542,676 99.56 15,670 0.44 5,816

Disclosure of Share Buy Back Authority Renewal

In accordance with the Commission Delegated Regulation (EU) 2016/1052 of 8.3.2016 (the Buy-back and Stabilisation RTS).

BlackRock Income and Growth Investment Trust plc (the Company) is amending its disclosure policy to include on a regulatory information services (RIS) details of its share buyback authority which it renews annually. This authority was last renewed at the Company’s Annual General Meeting held on 14 March 2019 when a special resolution was approved by shareholders authorising the Company to make market purchases of its own shares of up to a maximum of 14.99% of the Company’s shares in issue (excluding any shares held in treasury).

The Company has authority to repurchase a maximum of 3,598,299 of its ordinary shares (being the outstanding shareholder authority at the date of this announcement). Such authority lasts until the next shareholder authority granted, or where expressly revoked by shareholders. The share buybacks may be funded from the Company’s resources (including redemptions on funds the Company has invested in and debt facilities). No maximum consideration payable has been determined by the Company, but the Company is unable to pay a price for any shares pursuant to the buy-back which would equate to a premium to the prevailing net asset value.

The Company has appointed J.P. Morgan Securities plc to act as its broker in respect of the Company’s share buy-back programme.

The share buy-backs will be undertaken pursuant the Company’s discount management programme.

This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company’s general authority to repurchase shares.

14 March 2019

K Mayger
BlackRock Investment Management (UK) Limited, Secretary
Telephone: 020 7743 3000

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