16
January 2025
Herald
Investment Trust plc
LEI:
213800U7G1ROCTJYRR70
Glass
Lewis recommends
shareholders vote "AGAINST" the Requisitioned
Resolutions
The Board of Herald Investment Trust
plc ("Herald" or the "Company") notes the
publication of the voting recommendation from Glass Lewis, the
independent proxy adviser, in relation to the Company's forthcoming
general meeting to be held on 22 January 2025 at 12 noon (the
"General
Meeting").
Glass Lewis has recommended that
Herald Investment Trust shareholders vote "AGAINST" the
Requisitioned
Resolutions at the General Meeting on 22 January
2025.
ISS also recommended that
Shareholders should vote against the Requisitioned
Resolutions.
This recommendation is in line with the unanimous
recommendation of the Company's Board which has previously outlined
its recommendation to VOTE AGAINST the proposed Requisitioned
Resolutions for the reasons set out in the Circular posted to
Shareholders on 3 January 2025 and available on the Company's
website at https://defence.heralduk.com/.
Andrew Joy, Chairman of Herald Investment Trust plc,
said:
"The Board of Herald welcomes and is encouraged by the
recommendation from Glass Lewis for Shareholders to VOTE AGAINST
the Requisitioned Resolutions proposed by Saba at the General
Meeting on 22 January 2025, adding further support to the
recommendation already received from ISS. The recommendations from
both the independent proxy bodies support our belief that the
proposals from Saba are not in the best interests of all
Shareholders, and we strongly urge all Shareholders to VOTE AGAINST
the Requisitioned Resolutions proposed."
General Meeting and How to
Vote
The General Meeting to vote on the
Requisitioned Resolutions will be held at 10-11 Charterhouse
Square, London EC1M 6EE on 22 January 2025 at 12 noon.
Investors who hold their Shares
through an investment platform provider or nominee are encouraged
to contact their investment platform provider or nominee as soon as
possible to arrange for VOTES
AGAINST each of the Requisitioned Resolutions to be
lodged on their behalf. Further information on how to vote through
platforms can be found at the following
link: https://www.theaic.co.uk/how-to-vote-your-shares
For
further information please contact:
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Herald Investment Trust plc
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via Camarco
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Andrew Joy (Chairman)
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Camarco (Media
enquiries)
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+44 (0)20 3757 4980
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Billy Clegg / Ben Woodford / Eddie
Livingstone-Learmonth
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Herald@camarco.co.uk
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Singer Capital Markets (Corporate Broker)
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+44 (0)20 7496 3000
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Alan Geeves / Sam Greatrex / James
Waterlow / William Gumpel (Sales)
James Maxwell / Alaina Wong
(Investment Banking)
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J.P. Morgan Cazenove (Financial Adviser)
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+44 (0)20 3493 8000
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William Simmonds / Rupert
Budge
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NSM
Funds (UK) Limited (Company Secretary)
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HIT@nsm.group
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Brian Smith / Shilla
Pindoria
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Important information
Capitalised terms used throughout this announcement shall have
the meanings ascribed to them on pages 18 to 21 of the circular
published by the Company on 3 January 2025 (the "Circular"), unless the context
otherwise requires.
Neither the content of the websites referred to in this
announcement, nor the content of any other website accessible from
hyperlinks on such websites, is incorporated into, or forms part
of, this announcement.