TIDMMNKS
RNS Number : 7646L
Monks Investment Trust PLC
07 September 2023
THE MONKS INVESTMENT TRUST PLC (MNKS)
Legal Entity Identifier: 213800MRI1JTUKG5AF64
Results of Annual General Meeting
At the Annual General Meeting ('AGM') held on 7 September 2023
shareholders approved the following resolutions:
Ordinary Resolutions
1. To receive and adopt the Financial Statements of the Company
for the year ended 30 April 2023 with the Reports of the Directors
and of the Independent Auditor thereon.
2. To approve the Directors' Remuneration Policy.
3. To approve the Directors' Annual Report on Remuneration for the year ended 30 April 2023.
4. To declare a final dividend of 3.15p per ordinary share.
5. To re-elect Mr KS Sternberg as a Director.
6. To re-elect Mr JJ Tigue as a Director.
7. To re-elect Ms BJ Richards as a Director.
8. To re-elect Professor Sir Nigel Shadbolt as a Director.
9. To re-elect Ms CM Boyle as a Director.
10. To elect Dr D Chaya as a Director.
11. To reappoint Ernst & Young LLP as Independent Auditor of
the Company to hold office until the conclusion of the next Annual
General Meeting at which the Financial Statements are laid before
the Company.
12. To authorise the Directors to determine the remuneration of
the Independent Auditor.
13. That, in substitution for any existing authority but without
prejudice to the exercise of any such authority prior to the date
hereof, the Directors of the Company be and they are hereby
generally and unconditionally authorised in accordance with section
551 of the Companies Act 2006 (the 'Act') to exercise all the
powers of the Company to allot shares in the Company and to grant
rights to subscribe for or to convert any security into shares in
the Company ('Securities') provided that such authority shall be
limited to the allotment of shares and the grant of rights in
respect of shares with an aggregate nominal value of up to
GBP1,149,433.30 (representing 10% of the Company's total issued
share capital as at 15 June 2023), such authority to expire at the
conclusion of the next Annual General Meeting of the Company after
the passing of this resolution or on the expiry of 15 months from
the passing of this resolution, whichever is the earlier, unless
previously revoked, varied or extended by the Company in a general
meeting, save that the Company may at any time prior to the expiry
of this authority make an offer or enter into an agreement which
would or might require Securities to be allotted or granted after
the expiry of such authority and the Directors shall be entitled to
allot or grant Securities in pursuance of such an offer or
agreement as if such authority had not expired.
Special Resolutions
14. That, subject to the passing of resolution 13 above, and in
substitution for any existing power but without prejudice to the
exercise of any such power prior to the date hereof, the Directors
of the Company be and they are hereby generally empowered, pursuant
to sections 570 and 573 of the Companies Act 2006 (the 'Act') to
allot equity securities (within the meaning of section 560(1) of
the Act) for cash either pursuant to the authority given by
resolution 13 above or by way of the sale of treasury shares wholly
for cash as if section 561(1) of the Act did not apply to any such
allotment or sale, provided that this power:
a) expires at the conclusion of the next Annual General Meeting
of the Company after the passing of this resolution or on the
expiry of 15 months from the passing of this resolution, whichever
is the earlier, save that the Company may, before such expiry, make
an offer or agreement which would or might require equity
securities to be allotted after such expiry and the Directors may
allot equity securities in pursuance of any such offer or agreement
as if the power conferred hereby had not expired; and
b) shall be limited to the allotment of equity securities or the
sale of treasury shares up to an aggregate nominal value of
GBP1,149,433.30, being approximately 10% of the nominal value of
the issued share capital of the Company as at 15 June 2023.
15. That, in substitution for any existing authority, but
without prejudice to the exercise of any such authority prior to
the date hereof, the Company be and is hereby generally and
unconditionally authorised, pursuant to and in accordance with
section 701 of the Companies Act 2006 (the 'Act'), to make market
purchases (within the meaning of section 693(4) of the Act) of
fully paid ordinary shares of 5p each in the capital of the Company
('Shares'), (either for retention as treasury shares for future
reissue, resale, transfer or for cancellation) provided that:
a) the maximum aggregate number of Shares hereby authorised to
be purchased is 34,460,011, or, if less, the number representing
approximately 14.99% of the issued ordinary share capital of the
Company as at the date of the passing of this resolution;
b) the minimum price (exclusive of expenses) which may be paid for each Share is 5p;
c) the maximum price (exclusive of expenses) which may be paid
for a Share shall be not more than the higher of: (i) 5 per cent
above the average closing price on the London Stock Exchange of a
Share over the five business days immediately preceding the date of
purchase; and (ii) the higher of the price of the last independent
trade of, and the highest current independent bid for, a Share on
the London Stock Exchange; and
d) unless previously varied, revoked or renewed by the Company
in a general meeting, the authority hereby conferred shall expire
at the conclusion of the Annual General Meeting of the Company to
be held in respect of the year ending 30 April 2024, save that the
Company may, prior to such expiry, enter into a contract to
purchase Shares under such authority which will or may be executed
wholly or partly after the expiration of such authority and may
make a purchase of Shares pursuant to any such contract.
Resolutions 1 to 15 were passed on a poll. A breakdown of the
votes registered is shown below:
Resolution Votes for % Votes Against % Votes Withheld
(including
votes at
the discretion
of the Chairman)
Ordinary Resolutions
1 70,335,195 99.97 22,675 0.03 14,475
2 70,018,313 99.72 193,859 0.28 160,173
3 70,059,401 99.74 181,815 0.26 131,129
4 70,345,829 99.98 12,271 0.02 14,245
5 69,081,837 98.25 1,227,564 1.75 62,944
6 69,069,164 98.24 1,239,951 1.77 63,230
7 69,116,950 98.30 1,194,057 1.70 61,338
8 69,060,335 98.23 1,246,485 1.77 65,525
9 69,059,147 98.22 1,251,696 1.78 61,502
10 70,178,026 99.80 138,419 0.19 55,900
11 70,178,570 99.78 151,241 0.22 42,534
12 70,293,662 99.95 36,742 0.05 41,941
13 70,261,992 99.89 74,644 0.11 35,709
Special Resolutions
14 70,187,877 99.82 124,589 0.17 59,879
15 69,571,653 98.90 772,465 1.10 28,227
Baillie Gifford & Co Limited
Company Secretaries
7 September 2023
Regulated Information Classification: Additional regulated
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September 07, 2023 10:01 ET (14:01 GMT)
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