Scottish American Investment Co PLC Result of AGM (6910V)
06 Aprile 2023 - 5:41PM
UK Regulatory
TIDMSAIN
RNS Number : 6910V
Scottish American Investment Co PLC
06 April 2023
THE SCOTTISH AMERICAN INVESTMENT COMPANY P.L.C. (SAIN)
Legal Entity Identifier: 549300NF03XVC5IFB447
Annual General Meeting held on 6 April 2023
At the AGM held on 6 April 2023 all resolutions were passed,
including those detailed below:
-- An ordinary resolution renewing the Directors' general
authority to issue shares up to an aggregate nominal amount of
GBP14,727,772.25 (representing approximately 33% of the total
issued share capital of the Company). This authority will expire at
the conclusion of the next AGM of the Company or on 5 July 2024,
whichever is the earlier (unless previously varied, revoked or
renewed).
-- A special resolution renewing the Directors' authority to
issue shares and sell treasury shares on a non-pre-emptive basis up
to an aggregate nominal amount of GBP4,418,773.50 (representing 10%
of the total issued share capital of the Company). This authority
will expire at the conclusion of the next AGM of the Company or on
5 July 2024, whichever is the earlier (unless previously varied,
revoked or renewed). This authority will only be used to issue
shares or re-sell shares from treasury at a premium to net asset
value and only when the Directors believe it would be in the best
interests of the Company to do so.
-- An ordinary resolution that the Directors be authorised for
the purposes of LR15.4.11 of the Listing Rules of the UK Listing
Authority to issue further ordinary shares (including selling
treasury shares) for cash at a price below the net asset value per
share of those shares (with borrowings valued at book) without
first offering those shares pro rata to existing Shareholders.
-- A special resolution renewing the Company's authority to make
market purchases of up to 14.99% of the Company's issued share
capital, being 26,494,966 ordinary shares of 25p. This authority
will expire at the conclusion of the AGM to be held in 2024, unless
previously varied, revoked or renewed.
-- A special resolution that the Articles of Association
produced to the meeting and signed by the Chairman of the meeting
for the purposes of identification be approved and adopted as the
Articles of Association of the Company in substitution for, and to
the exclusion of, the existing Articles of Association with effect
from the conclusion of the meeting.
The full text of all the resolutions can be found in the Notice
of Annual General Meeting contained in the Annual Report and
Financial Statements which is available for viewing at the National
Storage Mechanism at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
At the AGM Bronwyn Curtis indicated that, in the absence of
unforeseen circumstances, it is not her intention to offer herself
for re-election to the Board at the next Annual General Meeting of
the Company, due to be held in 2024, at which time she will have
completed nine years on the Board. The Directors will undertake a
recruitment process to identify a suitable candidate to join the
Board over the coming year.
Baillie Gifford & Co Limited
Managers and Secretaries
6 April 2023
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END
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April 06, 2023 11:41 ET (15:41 GMT)
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