27 Jul 2020 15:55
To: RNS
From: BMO UK High Income Trust PLC
Date: 27 July 2020
LEI: 213800B7D5D7RVZZPV45
Subject: Result of Annual General Meeting
BMO UK High Income Trust PLC ('the Company') announces that, at the Annual General Meeting held on 27 July 2020, a poll was held on each of the 15 resolutions proposed and all were duly passed, including those detailed below:
· An ordinary resolution renewing the Directors' authority to allot new Ordinary shares of 0.1 pence each up to an aggregate nominal amount of £4,296 and new B shares of 0.1 pence each up to an aggregate nominal amount of £1,542 being approximately 5% of the Company's total issued Ordinary shares and approximately 5% of the Company's total issued B shares respectively (excluding shares held in treasury). This authority will expire at the conclusion of the Company's next Annual General Meeting to be held after the passing of this resolution or on 30 September 2021, whichever is earlier, unless previously revoked, varied or extended by the Company in general meeting.
· A special resolution renewing the Directors' authority to allot new Ordinary shares of 0.1 pence each up to an aggregate nominal amount of £4,296 and new B shares of 0.1 pence each up to an aggregate nominal amount of £1,542 being 4.2% of the Company's total issued Ordinary shares and 4.8% of the Company's total issued B shares respectively (including shares held in treasury) for cash without first offering such shares to existing shareholders pro rata to their existing holdings. This authority will expire at the conclusion of the Company's next Annual General Meeting to be held after the passing of this resolution or on 30 September 2021, whichever is earlier unless previously varied, revoked or renewed by the Company in general meeting.
· A special resolution renewing the Directors' authority to make market purchases of up to 12,879,800 Ordinary shares and 4,625,700 B shares being approximately 14.99% of the issued Ordinary shares and 14.99% of the issued B shares (excluding Ordinary shares and B shares held in treasury). This authority will expire at the conclusion of the Company's next Annual General Meeting or on 30 September 2021, whichever is the earlier, unless previously varied, revoked or renewed by the Company in general meeting.
· A special resolution renewing the Directors' authority to sell shares from treasury without having first to make a pro rata offer to existing shareholders limited up to an aggregate nominal amount of £8,592 in respect of Ordinary shares and £3,084 in respect of B shares, representing approximately 8.4 per cent of the Company's Ordinary share capital in issue and approximately 9.6 per cent of the Company's B share capital in issue (including treasury shares). This authority shall expire at the conclusion of the next Annual General Meeting of the Company or on 30 September 2021, whichever is the earlier, unless previously varied, revoked or renewed by the Company in general meeting.
· A special resolution to adopt new Articles of Association
The results of the poll were as follows:
For and Discretionary | Against | Withheld | Total Votes (excluding Votes Withheld) | ||||
Resolution | No of Votes | % of Votes Cast | No of Votes | % of Votes Cast | No of Votes | ||
1 | Receive Annual Report & Financial Statements for the year to 31 March 2020 | 19,463,063 | 99.62% | 73,354 | 0.38% | 236,619 | 19,536,417 |
2 | Approve Directors' Remuneration Policy | 18,720,499 | 97.04% | 571,078 | 2.96% | 481,458 | 19,291,577 |
3 | Approve Directors' Remuneration Report for the year to 31 March 2020 | 18,788,353 | 97.12% | 558,136 | 2.88% | 426,546 | 19,346,489 |
4 | To elect H M Galbraith as a Director | 19,084,070 | 98.93% | 206,924 | 1.07% | 482,042 | 19,290,994 |
5 | To elect S J Mitchell as a Director | 19,078,313 | 98.90% | 212,476 | 1.10% | 482,245 | 19,290,789 |
6 | To re-elect J Le Blan as a Director | 18,911,752 | 98.08% | 371,056 | 1.92% | 490,227 | 19,282,808 |
7 | To re-elect J M Evans as a Director | 19,056,185 | 98.73% | 246,089 | 1.27% | 470,761 | 19,302,274 |
8 | To re-elect A K Watkins as a Director | 19,049,418 | 98.83% | 226,422 | 1.17% | 497,196 | 19,275,840 |
9 | To re-appoint Deloitte LLP as Auditor and authority to determine its remuneration | 19,166,749 | 98.21% | 348,581 | 1.79% | 257,707 | 19,515,330 |
10 | Approval of the Company's dividend/capital repayment policy | 19,381,242 | 99.19% | 159,010 | 0.81% | 232,784 | 19,540,252 |
11 | Authorise the Directors to allot shares | 19,251,001 | 99.17% | 161,094 | 0.83% | 360,941 | 19,412,095 |
12 | Authority to allot shares without pre-emption rights | 19,095,793 | 98.44% | 303,370 | 1.56% | 373,872 | 19,399,163 |
13 | Authorise the Company to purchase own shares | 19,126,970 | 97.79% | 433,119 | 2.21% | 212,946 | 19,560,089 |
14 | Authority to sell treasury shares without pre-emption rights | 19,069,907 | 98.42% | 306,774 | 1.58% | 396,354 | 19,376,681 |
15 | Approval of new Articles of Association
| 19,164,874 | 98.29% | 334,289 | 1.71% | 273,872 | 19,499,163 |
The full text of all the resolutions can be found in the Notice of Annual General Meeting set out in the Annual Report and Financial Statements for the year ended 31 March 2020, which was submitted to the National Storage Mechanism on 3 June 2020 and is available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website www.bmoukhighincome.com
A copy of the new articles of association adopted at the meeting have been submitted to the National Storage Mechanism and will be shortly available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
At the time of the meeting the Company's issued share capital consists of 85,922,653 Ordinary shares carrying one vote each and 30,858,750 B shares carrying one vote each. The Company holds 16,144,491 Ordinary shares and 1,217,953 B shares in treasury which do not carry voting rights. Therefore, the total voting rights in the Company were 116,781,403 votes.
For further information please contact:
BMO Investment Business Limited 0207 628 8000