Last checked at 2 May 2019 15:15
STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN AMERICAN INVESTMENT TRUST PLC
ANNUAL GENERAL MEETING
Legal Entity Identifier: 549300QNAI4XRPEB4G65
Information disclosed in accordance with LR 9.6.18
The Board is pleased to announce that all of the resolutions put to shareholders at today's Annual General Meeting were passed, including the following items of Special Business:
i) to allow the Directors of the Company to exercise all powers of the Company to allot shares in the Company up to an aggregate nominal amount of £1,074,616, representing approximately 10% of the Company's issued ordinary share capital as at the date of the passing of the resolution;
ii) to allow the disapplication of pre-emption rights on the allotment of new ordinary shares up to an aggregate nominal amount of £1,074,616; and
iii) to allow the Company to make market purchases of up to 32,217,009 ordinary shares, representing 14.99% of the Company's issued share capital as at the date of the passing of the resolution.
The Board is also pleased to announce that shareholders approved the Company's new investment policy to take effect from 1st June 2019, which incorporates the changes required to enable the Company to move to a higher-conviction investment approach as announced on 20th March 2019. The Board however notes the votes against the resolution to approve the new investment policy, which equated to 20.81% of the total shares voted by proxy. The Board, through the remit of the Chair and JPMorgan, has been in continuous dialogue with major shareholders, including dissenting shareholders, and will continue to engage with all shareholders following the introduction of the Company's new investment strategy.
The full text of all the resolutions can be found in the Notice of Annual General Meeting contained in the Annual Report and Accounts which is available for viewing at the National Storage Mechanism which can be located at www.morningstar.co.uk/uk/NSM and on the Company's website, www.jpmamerican.co.uk.
A summary of proxy votes received will shortly be available on the Company's website, www.jpmamerican.co.uk.
2nd May 2019
For further information, please contact:
Alison Vincent
For and on behalf of
JPMorgan Funds Limited - Secretary
020 7742 4000