Dunedin Ent.it. Regulatory News (DNE)

Dunedin Enterprise Investment Trust PLC

28 November 2011

Result of General Meeting

The Board of Dunedin Enterprise Investment Trust PLC (the "Company") announces that, in connection with the proposals to change the investment policy and introduce a distribution policy which were announced on 1 November 2011, the associated resolutions to approve the change of investment policy and cancel the Company's share premium account were passed by the requisite majority at the General Meeting of the Company held on 28 November 2011. The cancellation of the share premium account, which will facilitate the implementation of the distribution policy, remains subject to Court approval.

The Directors believe that the principal benefits of the Proposals will be:

·; refocusing the Company's portfolio on investments that fall within Dunedin Capital Partners' core area of investment management expertise as a UK lower mid-market private equity investor;

·; a material and sustained reduction in the Company's unfunded commitments in the longer term;

·; a clearly defined distribution policy, which should reduce the cash drag on Shareholders' returns following realisations and pending re-investment and create liquidity for Shareholders whilst maintaining the Company at a viable size;

·; a more efficient employment of the Company's capital through a combination of a reduction in its outstanding commitments and the new distribution policy, with the flexibility to make direct investments when its commitments and cash position permit; and

·; enhancing returns to Shareholders over the longer term.

Edward Dawnay, Chairman of Dunedin Enterprise Investment Trust PLC commented:

"This is great news and demonstrates a clear vote of confidence by the Trust's shareholders in the strategy of a continuing commitment to the UK lower mid market and a recognition of the Trust's strengths in this area."

The Company's portfolio will now be progressively refocused on UK lower mid-market buyouts where the Company has invested directly or through funds managed by its investment manager, Dunedin Capital Partners. The Company's existing third party managed fund investments may be held to maturity, although the Directors will consider earlier sales of all or any of those investments, together with any associated undrawn commitments, if the Directors believe that any such sales on the terms proposed are in the best interests of Shareholders as a whole.

In accordance with the terms of the new distribution policy, at least 50% of the capital gains made on realisations of the Company's investments in UK lower mid market buyouts and a substantial proportion of the net proceeds from any sales of the Company's existing investments in third party managed funds will be used to fund Share buy-backs, tender offers, returns of capital, dividend payments or other distributions to Shareholders.

In accordance with the Listing Rules, copies of the resolutions passed as special business have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do