Terra Capital PLC Result of AGM (9837M)

TIDMTCA

RNS Number : 9837M

Terra Capital PLC

19 October 2016

Terra Capital Plc ('Terra' or 'the Fund')

Result of AGM

Terra Capital Plc, the AIM quoted investment trust focussed on investing in value opportunities globally, primarily in frontier markets, announces that at the Annual General Meeting ('AGM') held on October 19, the following resolutions were duly passed:

ORDINARY RESOLUTIONS

Resolution 1

The Report of the Directors, Auditors' Report and the Audited Consolidated Financial Statements of the Company for the year to 31 December 2015 were received and adopted.

Resolution 2

KPMG Audit LLC Isle of Man were re-appointed as auditors of the Company for the year to 31 December 2016.

Resolution 3

The directors were authorised to determine the remuneration of the Auditors.

Resolution 4

Mr Peter Bartlett was re-appointed a director of the Company

Resolution 5

The Company was authorised to make market purchases of its own shares as follows:

i) the maximum number of shares authorised to be purchased is up to 14.99 per cent of the shares in issue at the time of the passing of this resolution;

   ii)        the minimum price which may be paid for each Ordinary Share is 10 US cents per share; 

iii) the maximum price which may be paid for an Ordinary Share shall not be more than 5 per cent above the average of the middle market quotations for an Ordinary Share for the five business days immediately preceding the date on which the Ordinary Share is purchased; and

iv) this authority will expire on the earlier of 15 months from the passing of this resolution or the conclusion of the next annual general meeting.

**ENDS**

For more information, please visit www.terracapitalplc.com or contact:

Galileo Fund Services Limited (Administrator)

Frazer Pickering

[phone]

Panmure Gordon (UK) Limited (Nominated adviser and corporate broker)

Paul Fincham or Jonathan Becher

[phone]

Terra Capital plc.

Ian Dungate, Director

[phone]

St Brides Partners Ltd

Elisabeth Cowell / Frank Buhagiar

[phone]

NOTES:

Terra Capital plc is an AIM quoted investment trust focussed on generating high absolute returns while ensuring volatility is kept to a minimum. The fund predominantly invests in under-researched and under-valued companies. The Fund Manager targets companies that are trading at less than their intrinsic worth and so, aside from any potential growth prospects, provide scope for capital appreciation as a result of a reversion towards underlying value. Investments are also made in companies which are viewed as fair value but offer opportunities for growth at a reasonable price. Due to inherent market inefficiencies, the Investment Manager believes many such 'value' opportunities can be found in Frontier Markets and utilises in-house teams of analysts on the ground in areas of interest to investigate suitable opportunities rather than rely on third party research.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 19, 2016 10:51 ET (14:51 GMT)