15 Jan 2021 10:15
LONDON STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN EUROPEAN INVESTMENT TRUST PLC
VOTING UPDATE STATEMENT
Legal Entity Identifier: 549300D8SPJFHBDGXS57
Information disclosed in accordance with 1.D.4 of the 2018 UK Code of Corporate Governance and principle 5.2.4 of the 2019 AIC Code of Corporate Governance.
At JPMorgan European Investment Trust Plc's (the "Company") Annual General Meeting (AGM) held on 15th July 2020, the Company received the following negative votes (as a proportion of the total votes cast) in respect of resolutions 4, 5, 6, 7, and 14:
Resolution | % |
4. To reappoint Josephine Dixon as a Director of the Company | 26.34 |
5. To reappoint Stephen Goldman as a Director of the Company | 22.98 |
6. To reappoint Stephen Russell as a Director of the Company | 23.56 |
7. To reappoint Jutta af Rosenborg as a Director of the Company | 26.52 |
14. To adopt new Articles of Association | 23.82 |
Since the AGM results were announced on 15th July 2020, on instruction of the Board, the investor relations teams of the Company's Broker and Manager have been in dialogue with the Company's major shareholders to address any concerns in relation to these negative votes.
Actions taken by the Board in response to this dialogue: In the Company's Half Year Report to 30th September 2020, announced on 24th November 2020, the Chairman's Statement included reference to the expectation that Stephen Russell and Stephen Goldman will be standing down as Directors in the forthcoming year and the engagement of an independent search agency to seek suitable replacements in accordance with the Company's Board Succession Plan. In addition, the Directors reiterate their intention as stated in the Annual Report, that the power to use virtual only shareholder meetings will only be used where the Directors consider it to be in the best interests of shareholders.
The full text of all the resolutions can be found in the Company's Annual Report and Accounts which is available for viewing at the National Storage Mechanism which can be located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and from the Company's website, www.jpmeuropean.co.uk
A summary of proxy votes received and the poll results are available on the Company's website, www.jpmeuropean.co.uk
15th January 2021
For further information, please contact:
Paul Winship
For and on behalf of
JPMorgan Funds Limited, Secretary
020 7742 6000