5 Jul 2019 15:39
VALUE AND INCOME TRUST PLC
Result of Annual General Meeting
The Board announces that at the Annual General Meeting of Value and Income Trust PLC, held at 12.30pm today, Friday, 5 July 2019, at Condor House, 10 St. Paul's Churchyard, London EC4M 8AL, Ordinary Resolutions numbered 1 to 9, inclusive, and Special Resolutions numbered 10 to 12 inclusive, as set out in the Notice of Meeting within the 2019 Annual Report, were passed on a show of hands.
At the record date for the Annual General Meeting, being 3 July 2019, the total number of voting rights in the Company stood at 45,549,975 and the total number of shares in issue was 45,549,975. In accordance with the provisions of E.2.2 of the UK Corporate Governance Code, the Company advises that for the Annual General Meeting, valid proxy appointments were made in respect of up to 6,392,394 shares.
In relation to Resolution 11 (authority to make market purchases of Ordinary Shares either for cancellation or for holding in treasury), 14.99% of the Company's issued Ordinary Share capital equated to 6,827,941 Ordinary Shares as at the date of the passing of the Resolution.
The numbers of proxy votes cast in respect of each Resolution were as follows:
| For and Chairman's Discretion | Against | Votes | Total Votes | ||
Resolution | No. of | % of | No. of | % of | Withheld | (excluding Votes Withheld) |
Number | Votes | Votes Cast | Votes | Votes Cast |
| |
1 | 6,374,376 | 99.77 | 14,569 | 0.23 | 9,216 | 6,388,945 |
2 | 6,322,523 | 99.58 | 26,806 | 0.42 | 48,832 | 6,349,329 |
3 | 6,392,394 | 100.00 | 0 | 0.00 | 5,767 | 6,392,394 |
4 | 4,849,480 | 75.94 | 1,536,164 | 24.06 | 12,517 | 6,385,644 |
5 | 4,949,784 | 77.51 | 1,435,859 | 22.49 | 12,517 | 6,385,643 |
6 | 5,285,396 | 82.94 | 1,087,074 | 17.06 | 25,690 | 6,372,470 |
7 | 6,349,256 | 99.56 | 27,779 | 0.44 | 21,125 | 6,377,035 |
8 | 6,368,219 | 99.70 | 19,329 | 0.30 | 10,612 | 6,387,548 |
9 | 6,373,196 | 99.77 | 14,948 | 0.23 | 10,017 | 6,388,144 |
10 | 5,438,184 | 85.73 | 905,349 | 14.27 | 54,627 | 6,343,533 |
11 | 6,301,596 | 98.91 | 69,483 | 1.09 | 27,082 | 6,371,079 |
12 | 6,130,543 | 95.94 | 259,750 | 4.06 | 7,868 | 6,390,293 |
The Board notes that Resolutions 4, 5 and 6, being Ordinary Resolutions relating to the re-appointment of Mr Ferguson, Mr Kay and Mr Smith, were all duly passed but recognises that a significant minority of the votes cast were against these Resolutions. It is intended that the Board will give this due consideration in its future deliberations.
Copies of Resolutions 9, 10, 11 and 12, all of which were passed at the AGM, have been submitted to the National Storage Mechanism ("NSM") and will shortly be available for inspection at: http://www.morningstar.co.uk/uk/NSM*.
A copy of the 2019 Annual Report may be downloaded from the websites of the Company's Investment Managers at www.olim.co.uk and www.olimproperty.co.uk*.
*Neither the websites of the Company's Investment Managers, nor the NSM website, nor the content of any website accessible from hyperlinks on those websites (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement.
Enquiries:
Miranda Kelly
Maven Capital Partners UK LLP
Company Secretary
Tel: 0141 206 0124