North Atlantic Smlr Co Inv Tst PLC Statement re shareholder engagement (7364J)
December 23 2020 - 10:09AM
UK Regulatory
TIDMNAS
RNS Number : 7364J
North Atlantic Smlr Co Inv Tst PLC
23 December 2020
North Atlantic Smaller Companies Investment Trust PLC (the
"Company")
In June this year, immediately following the Company's Annual
General Meeting, the Company announced that over 20% of
shareholders voting on resolution 15 concerning the waiver of Rule
9 had voted against the resolution. Under the FRC's UK Corporate
Governance Code, companies receiving such a vote against a
resolution should publish, no later than six months after the
shareholder meeting, an update on the views received from
shareholders and actions taken by the Company.
The shares in question are held in nominee accounts and we have
engaged with certain of the institutions responsible for voting
their clients' shares against resolution 15. Their principal
objection was one of principle. Because of the difficulty of
engaging with institutions whose employees are not working in their
offices, we have been unable to elicit responses from all the
institutions and will continue to attempt to engage with
shareholders about this issue. In the meantime, the directors
believe that it is overwhelmingly in the best interest of all
shareholders that the buyback programme continues.
Contact:
Jane Muir
For Derringtons Limited
Company Secretary
020 8819 6486
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