EPG.L Regulatory News (EPG)

EP Global Opportunities Trust Plc - Annual General Meeting Update Statement

PR Newswire

London, October 19

EP Global Opportunities Trust plc (the “Company”)

Annual General Meeting Update Statement

At the Annual General Meeting of the Company held on 21 April 2021 two resolutions were passed with a majority of less than 80% of the votes cast. The first of these was to re-elect the Chairman, Mr Teddy Tulloch, as a Director, and the second to renew the authority of the Company to sell ordinary shares held in treasury at a discount to the prevailing net asset value per ordinary share,

In accordance with the provisions of the AIC Code of Corporate Governance, the Board is required to consult and engage with the relevant Shareholders to understand and discuss their concerns with respect to these resolutions. The Board, having consulted with the relevant Shareholders, is now providing Shareholders with the following update.

The Board is grateful for the support it received from the sizeable majority of Shareholders to all the resolutions at the Annual General Meeting. The Board noted that three Shareholders (all of which are institutional investors) who voted against the two resolutions detailed above accounted for the overwhelming majority of the votes against both resolutions. The Company engaged with these Shareholders to better understand their concerns.

It is the Board's understanding that the votes against the resolution to re-elect Mr Tulloch were primarily driven by his having been in office for over nine years and due to the lack of female representation on the Board. As had been detailed in the Company’s Annual Report and Financial Statements for the year ended 31 December 2020 the Board acknowledged the need to refresh its composition, including recruiting a new Chairman and addressing gender diversification. Two new Directors, including the new Chairman, were appointed to the Board on 18 May 2021 and subsequently Mr Tulloch retired as a Director and Chairman on 9 June 2021. The Board now consists of four Directors each of whom has been in office for less than nine years, and the Board now has female representation of 25%.

It is also the Board’s understanding that the Shareholder vote against the resolution to allow the Company to sell ordinary shares held in treasury at a discount to the prevailing net asset value per ordinary share was principally due to the voting policy of certain institutional Shareholders. The Board will consider, prior to the Annual General Meeting to be held in 2022, whether it remains appropriate for the Company to request such authority from Shareholders.

The Board would like to thank those Shareholders who responded to the Board for their engagement and confirms that it remains committed to maintaining a positive dialogue with all Shareholders.

20 October 2021

LEI: 2138005T5CT5ITZ7ZX58

Enquiries:

Kenneth GreigFranklin Templeton Investment Trust Management LimitedTel: 0131 270 3800

The Company’s registered office address is:

27-31 Melville StreetEdinburghEH3 7JF