22 August 2022
THE SCOTTISH INVESTMENT TRUST PLC (the "Company")
Result of First General Meeting
Result of First General Meeting
In connection with the proposals for a combination of the assets of the Company with JP Morgan Global Growth & Income plc ("JGGI") by means of a scheme of reconstruction and winding up of the Company under section 110 of the Insolvency Act 1986 (the "Scheme"), the Board is pleased to announce that the special resolution, which was put forward at the First General Meeting held today, has been approved by Shareholders.
Details of the number of proxy votes cast for, against and withheld in respect of the resolution, which was held on a poll, are set out below and will also be published on the Company's website: https://thescottish.co.uk/.
| Special Resolution | Votes For (including Discretionary) | % | Votes Against | % | Votes Total | % Issued Share Capital | Votes Withheld |
| To approve (i) the Scheme (ii) the implementation of the Scheme; and (iii) the changes required to be made to the Company's articles of association in order to implement the Scheme.
| 18,276,371 | 98.83 | 216,391 | 1.17 | 18,492,762 | 27.95 | 257,317 |
The full text of the special resolution can be found in the notice of First General Meeting contained in the Company's circular to Shareholders dated 5 August 2022 (the "Circular"). The Circular is available for viewing at the National Storage Mechanism which can be located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at https://thescottish.co.uk/combinationwithjggi.
As disclosed in the Circular, an application will be made to the FCA for the listing of the SIT Shares and the SIT Debenture Stock to be suspended at 7.30 a.m. on 31 August 2022.
Pre-liquidation interim dividend
As announced on 5 August 2022, a pre-liquidation interim dividend of 9.4 pence per Share will be paid on 30 August 2022 to Shareholders on the register on 19 August 2022.
Defined terms used in this announcement have the meanings given in the Circular unless the context otherwise requires.
Enquiries:
The Scottish Investment Trust PLC
James Will (Chairman) (via Investec Bank plc) T: +44 (0)20 7597 4000
JPMorgan Funds Limited
Simon Crinage T: +44 (0)20 7742 4000
Fin Bodman
Investec Bank plc (Corporate Broker)
Tom Skinner (Corporate Broking) T: +44 (0)20 7597 4000
David Yovichic (Corporate Finance)
Neither the Company's 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.
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