Downing Strategic Micro-Cap Investment Trust plc
LEI Number: 213800QMYPUW4POFFX69
21 February 2025
Results of General Meeting
Further to the circular (the "Circular") and notice of General Meeting (the "Notice") published on 29 January 2025 by Downing Strategic Micro-Cap Investment Trust plc (the "Company"), the board of directors of the Company announces that the special resolution to place the Company into members' voluntary liquidation, as set out in the Notice, was voted on by way of a poll and approved by the Company's Shareholders at the General Meeting held earlier today. Accordingly, Derek Hyslop and Richard Barker of Ernst & Young LLP have been appointed as joint liquidators of the Company (the "Liquidators").
The votes received for and against the resolution and the number of votes withheld were as follows:
| resolution | votes for (including discretionary) | % (of votes cast excl. withheld) | votes against | % (of votes cast excl. withheld) | total votes cast | % (issued share capital) | votes withheld |
| To approve the members' voluntary liquidation of the Company, appoint the Liquidators and grant the Liquidators certain powers. | 5,606,970 | 98.31 | 96,590 | 1.69 | 5,703,560 | 12.50 | 22,072 |
The full text of the resolution can be found in the Notice contained in the Circular. The Circular is available for viewing on the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at https://www.downingstrategic.co.uk/.
Suspension and Cancellation of Shares
As set out in the Circular, the Company's Shares were suspended from listing on the Official List of the Financial Conduct Authority and from trading on the main market of the London Stock Exchange at 7.30 a.m. this morning, 21 February 2025, in anticipation of the General Meeting. The Company's Shares are expected to remain suspended from listing until, at least, after the payment of the Initial Distribution (as defined below) after which time the listing will be cancelled.
Initial Distribution
As set out in the Circular, the Liquidators expect to make an initial distribution to Shareholders in the week commencing 3 March 2025 (the "Initial Distribution"). It is expected that the Initial Distribution will be approximately 2.0 pence per Share, which, if paid, would result in the aggregate distributions made since 28 February 2024 (being the date on which the Company entered into Managed Wind-Down) being approximately 65.9 pence per Share.
Defined terms used in this announcement have the meanings given to them in the Circular unless the context otherwise requires.
| Enquiries | |
| Ernst & Young LLP (Liquidators) | |
| Derek Hyslop | DSM@parthernon.ey.com |
| Richard Barker | |
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