4 November 2026
MANCHESTER AND LONDON INVESTMENT TRUST PLC
(the "Company")
Results of Annual General Meeting
The Company announces that, at the Annual General Meeting ("AGM") of the Company held today, all resolutions contained in the Notice of AGM were duly passed on a poll.
In order to comply with Article 89 of the Company's Articles of Association, requiring the votes of independent shareholders on resolutions to re-elect independent Directors to be counted separately, the votes of M&M Investment Company Ltd, the Company's controlling shareholder, have been excluded from the presentation of each of resolutions 5, 7, and 8. The figures for those resolutions therefore reflect only proxy votes submitted by independent shareholders.
The proxy votes received in relation to the resolutions passed were as follows:
|
Resolution |
For (No. of shares) |
For (%) |
Against (No. of shares) |
Against (%) |
Votes Withheld (No. of shares) |
Total Votes |
% of ISC Voted |
|
1. To receive and accept the Annual Report |
27,354,795 |
100.00 |
236 |
0.00 |
3,096 |
27,358,127 |
71.95 |
|
2. To approve the Directors' Remuneration Report |
27,323,597 |
99.91 |
25,020 |
0.09 |
9,510 |
27,358,127 |
71.95 |
|
3. To approve the Directors' Remuneration Policy |
27,319,336 |
99.90 |
27,434 |
0.10 |
11,357 |
27,358,127 |
71.95 |
|
4.To declare a final ordinary dividend and special dividend of 20.0p per Ordinary Share |
27,354,924 |
99.99 |
2,357 |
0.01 |
846 |
27,358,127 |
71.95 |
|
5. To re-elect Daniel Wright as a Director (independent shareholders)† |
3,031,765 |
74.79 |
1,021,973 |
25.21 |
23,304,389 |
27,358,127 |
71.95 |
|
6. To re-elect Brett Miller as a Director |
27,205,547 |
99.54 |
125,907 |
0.46 |
26,673 |
27,358,127 |
71.95 |
|
7. To re-elect Daren Morris as a Director (independent shareholders)† |
3,950,944 |
97.51 |
101,070 |
2.49 |
23,306,113 |
27,358,127 |
71.95 |
|
8. To re-elect James Waterlow as a Director (independent shareholders)† |
3,953,224 |
97.50 |
101,244 |
2.50 |
23,303,659 |
27,358,127 |
71.95 |
|
9. To re-appoint Deloitte LLP as Auditor of the Company |
27,322,761 |
99.89 |
29,562 |
0.11 |
5,804 |
27,358,127 |
71.95 |
|
10. To authorise the Directors to determine the Auditor's Remuneration |
27,347,590 |
99.97 |
9,340 |
0.03 |
1,197 |
27,358,127 |
71.95 |
|
11. To authorise the Directors to offer holders the right to elect to receive optional scrip dividends |
27,350,389 |
99.98 |
5,142 |
0.02 |
2,596 |
27,358,127 |
71.95 |
|
12. To authorise the Directors to allot Ordinary Shares |
27,332,840 |
99.92 |
21,477 |
0.08 |
3,810 |
27,358,127 |
71.95 |
|
13. To disapply statutory pre-emption rights in relation to the issue of Ordinary Shares* |
27,333,637 |
99.92 |
21,894 |
0.08 |
2,596 |
27,358,127 |
71.95 |
|
14. To authorise the Directors to sell, transfer and allot Ordinary Shares from Treasury at a discount to the net asset value* |
27,321,062 |
99.88 |
34,119 |
0.12 |
2,946 |
27,358,127 |
71.95 |
|
15. To authorise the Company to make market purchases of Ordinary Shares* |
27,215,445 |
99.49 |
138,789 |
0.51 |
3,893 |
27,358,127 |
71.95 |
|
16. To authorise the Company to hold general meetings on 14 clear days' notice* |
27,309,451 |
99.84 |
44,146 |
0.16 |
4,530 |
27,358,127 |
71.95 |
*special resolutions
†In the notes accompanying the Notice of AGM, it was stated that the separate voting requirement arises under the UK Listing Rules; this is incorrect as this requirement expressly excludes closed-ended investment trusts. However, Article 89 of the Company's Articles of Association require the votes of independent shareholders on resolutions 5, 7, and 8 are counted separately. A resolution to remove Article 89 will be proposed at the Company's 2027 AGM.
|
NOTES: |
|
|
1. |
All resolutions were passed. |
|
2. |
Proxy appointments which gave discretion to the Chairman of the AGM have been included in the "For" total for the appropriate resolution. |
|
3. |
Votes "For" and "Against" any resolution are expressed as a percentage of votes validly cast for that resolution. |
|
4. |
A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against" any resolution. |
|
5. |
The number of shares in issue on 2 November 2026 was 40,528,238 ordinary shares (including 2,503,651 shares in treasury). The number of Ordinary Shares in circulation (excluding treasury shares), carrying one vote each, is 38,024,587. |
|
6. |
The full text of the resolutions passed at the AGM can be found in the Notice of Annual General Meeting which is available on the Company's website at https://mlcapman.com/manchester-london-investment-trust-plc/. |
|
7. |
In accordance with Listing Rule 6.4.2, a copy of resolutions 11 to 16 passed at the AGM will shortly be submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. |
LEI: 213800HMBZXULR2EEO10