15 Mar 2021 14:00
Jupiter UK Growth Investment Trust PLC (the "Company")
Legal Entity Identifier: 549300QSBKGE8ZO08A97
15 March 2021
Result of First General Meeting, Elections and update on DRIP/treasury shares
Result of First General Meeting
In connection with the proposals for the reconstruction and voluntary winding‐up of the Company with the option of a rollover into the Brown Advisory Global Leaders Fund ("BAGL"), the Board is pleased to announce that all Resolutions, which were put forward at the First General Meeting, have been voted on and passed by Shareholders.
The results of the First General Meeting, which incorporate proxy votes lodged in advance of the meeting, are set out below:
Resolution | Votes For | % | Votes Against | % | Votes Total | % ISC | Votes Withheld |
1. To reclassify the Ordinary Shares and amend the Articles. | 2,098,330 | 99.0 | 21,097 | 1.0 | 2,119,427 | 14.6 | 32,599 |
2. To approve the Scheme, to further amend the Articles and to instruct the Liquidators to give effect to the Scheme. | 2,098,336 | 99.0 | 21,097 | 1.0 | 2,119,433 | 14.6 | 32,593 |
The full text of the Resolutions can be found in the Notice of First General Meeting contained in the Company's Circular dated 19 February 2021 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.jupiteram.com/uk/en/professional/jupiter-uk-growth-investment-trust-plc.
Cancellation of Treasury Shares
The Company announces that it has today cancelled all of the 15,156,956 outstanding ordinary shares held in treasury. Following this cancellation the issued share capital of the Company comprises 14,564,722 ordinary shares of which none are held in treasury. For reporting purposes under the FCA's Disclosure and Transparency Rules the market should use the figure 14,564,722 when determining if they are required to notify their interest in, or a change to their interest in the Company.
Results of Elections
Pursuant to the Scheme, the Company has received the following Elections (including deemed elections) in connection with the Proposals:
Options | Elections from Ordinary Shareholders |
Rollover Option | 2,893,346 |
Cash Option | 11,671,376 |
Therefore, the Company's Ordinary Shares will be reclassified as follows:
· 2,893,346 Ordinary Shares with "A" rights ‐ being Ordinary Shares with the entitlement to receive BAGL Shares.
· 11,671,376 Ordinary Shares with "B" rights ‐ being Ordinary Shares with the entitlement to receive cash.
The amendment to the listing of the Shares has been requested and dealings in the Reclassified Shares are expected to commence at 8:00 a.m. on 25 March 2021, and the listing and dealings in Reclassified Shares is subsequently expected to be suspended at 7:00 a.m. on 26 March 2021.
Dividend Reinvestment Plan ("DRIP")
On 19 February 2021 the Company announced an interim dividend for period 1 July 2020 to 15 March 2021, of 1.5 pence (net) per ordinary share which will be paid on 24 March 2021 to those Ordinary shareholders on the register as at 5 March 2021. As it is anticipated that the Company will be wound up following the conclusion of the Second General Meeting to be held on 26 March 2021 shareholders should note that the Dividend Reinvestment Plan has been suspended and entitlements in respect of this interim dividend will not be re-invested pursuant to the DRIP.
Defined terms used in this announcement have the meanings given in the Company's Circular dated 19 February 2021 unless the context otherwise requires.
For further information, please contact:
Numis Securities Limited
David Benda, Investment Banking
d.benda@numis.com
Tel. 020 7260 1275
Jupiter Asset Management Limited
Magnus Spence, Head of Investment Trusts and Alternatives
investmentcompanies@jupiteram.com
Tel. 020 3817 1000