BMO Managed Portfolio Trust PLC Result of AGM (0602A)

TIDMBMPG

RNS Number : 0602A

BMO Managed Portfolio Trust PLC

24 September 2020

   To:                   RNS 
   Date:               24 September 2020 
   Company:       BMO Managed Portfolio Trust PLC 
   LEI:                  213800ZA6TW45NM9YY31 

Subject: Result of Annual General Meeting

BMO Managed Portfolio Trust PLC (the "Company") announces that, at the Annual General Meeting held on 24 September 2020, all 15 resolutions proposed were duly passed, including those detailed below:

-- An ordinary resolution authorising the Directors' to allot new Income shares up to an aggregate nominal amount of GBP890,590.90 (consisting of 9,377,000 Income shares) and new Growth shares up to an aggregate nominal amount of GBP684,492.76 (consisting of 7,207,000 Growth shares), being approximately 20% of the Company's total issued Income shares and approximately 20% of the Company's total issued Growth shares respectively (excluding shares held in treasury). This authority will expire at the conclusion of the Company's next Annual General Meeting to be held after the passing of this resolution or on the expiry of 15 months from the passing of this resolution, whichever is earlier, unless previously revoked, varied or extended by the Company in general meeting.

-- A special resolution authorising the Directors' to allot new Income shares, or resell Income shares held in treasury, up to an aggregate nominal amount of GBP445,295.45 (consisting of 4,688,500 Income shares) and allot new Growth shares or resell Growth shares held in treasury, up to an aggregate nominal amount of GBP342,246.38 (consisting of 3,603,500 Growth shares) being approximately 10% of the Company's total issued Income shares and approximately 10% of the Company's total issued Growth shares respectively (including shares held in treasury) for cash without first offering such shares to existing shareholders pro rata to their existing holdings. This authority will expire at the conclusion of the Company's next Annual General Meeting to be held after the passing of this resolution or on the expiry of 15 months from the passing of this resolution, whichever is earlier unless previously varied, revoked or renewed by the Company in general meeting.

-- A special resolution providing the Directors' with additional authority to allot further new Income shares or resell Income shares held in treasury up to an aggregate nominal amount of GBP445,295.45 (consisting of 4,688,500 Income shares) and allot further new Growth shares or resell Growth shares held in treasury, up to an aggregate nominal amount of GBP342,246.38 (consisting of 3,603,500 Growth shares) being approximately 10% of the Company's total issued Income shares and approximately 10% of the Company's total issued Growth shares respectively (including shares held in treasury) for cash without first offering such shares to existing shareholders pro rata to their existing holdings. This authority will expire at the conclusion of the Company's next Annual General Meeting to be held after the passing of this resolution or on the expiry of 15 months from the passing of this resolution, whichever is earlier unless previously varied, revoked or renewed by the Company in general meeting.

-- A special resolution renewing the Directors' authority to make market purchases of up to 7,028,000 Income shares and 5,402,000 Growth shares being approximately 14.99% of the issued Income shares and 14.99% of the issued Growth shares (excluding Income shares and Growth shares held in treasury). This authority will expire at the conclusion of the Company's next Annual General Meeting or on 24 December 2021, whichever is the earlier, unless previously varied, revoked or renewed by the Company in general meeting.

-- A special resolution to approve the proposed Purchase Contract to enable the Company to make off-market purchases of its own deferred shares.

   --    A special resolution to adopt new Articles of Association 

The results of the poll were as follows:

 
                                  For and Discretionary         Against         Withheld      Total Votes 
                                                                                               (excluding 
                                                                                             Votes Withheld) 
      Resolution                     No of        % of       No of      % of    No of 
                                     Votes        Votes      Votes      Votes    Votes 
                                                   Cast                 Cast 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      Receive Annual 
       Report & Financial 
       Statements for 
       the year to 31 
 1     May 2020                  38,169,237      99.9%     22,389      0.1%     1,218,200   38,191,626 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      Approve Directors' 
       Remuneration 
 2     Policy                    33,971,471      95.0%     1,796,833   5.0%     3,641,519   35,768,304 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      Approve Directors' 
       Remuneration 
       Report for the 
       year to 31 May 
 3     2020                      34,199,608      94.8%     1,884,891   5.2%     3,325,326   36,084,499 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      To re-elect David 
 4     Harris as a Director      37,239,099      98.6%     513,994     1.4%     1,656,732   37,753,093 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      To re-elect Susan 
       P. Inglis as 
 5     a Director                36,998,110      97.9%     801,860     2.1%     1,609,854   37,799,970 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      To re-elect Colin 
       S. McGill as 
 6     a Director                37,120,681      98.3%     636,191     1.7%     1,652,954   37,756,872 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      To re-elect David 
       Warnock as a 
 7     Director                  36,899,896      97.9%     775,424     2.1%     1,734,507   37,675,320 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      To re-appoint 
       KPMG LLP as Auditor 
       and authority 
       to determine 
 8     its remuneration          36,017,729      96.3%     1,368,582   3.7%     2,023,515   37,386,311 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      Approval of the 
       Company's dividend 
 9     policy                    37,520,521      99.8%     92,730      0.2%     1,796,572   37,613,251 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      Authorise the 
       Directors to 
 10    allot shares              37,313,838      99.4%     226,572     0.6%     1,869,415   37,540,410 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      Authorise the 
       Directors to 
       allot shares 
       and sell treasury 
       shares without 
 11    pre-emption rights        34,826,884      96.8%     1,140,774   3.2%     3,442,169   35,967,658 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      Authorise the 
       Directors to 
       allot additional 
       shares and sell 
       treasury shares 
       without pre-emption 
 12    rights                    34,598,902      95.3%     1,696,933   4.7%     3,113,991   36,295,835 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      Authorise the 
       Company to purchase 
 13    own shares                36,815,972      98.2%     685,830     1.8%     1,908,020   37,501,802 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      Approval of Proposed 
 14    purchase contract         35,603,655      98.4%     583,483     1.6%     3,222,686   36,187,138 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
      Approval of new 
 15    Articles of Association   35,630,984      96.7%     1,219,983   3.3%     2,558,859   36,850,967 
     -------------------------  --------------  --------  ----------  -------  ----------  ----------------- 
 

The full text of all the resolutions can be found in the Notice of Annual General Meeting set out in the Annual Report and Financial Statements for the year ended 31 May 2020 which was submitted to the National Storage Mechanism on 13 August 2020 and is available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website www.bmomanagedportfolio.com

A copy of the new articles of association adopted at the meeting have been submitted to the National Storage Mechanism and will be shortly available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Under the Articles of Association, on a poll each Income shareholder and each Growth shareholder is entitled to a weighted vote determined in accordance with the underlying NAV of the relevant share class. The related share voting numbers for this meeting were 1.18 and 2.20 for the Income shares and Growth shares respectively.

At the time of the meeting the Company's issued share capital consists of 46,885,537 Income shares and 36,113,210 Growth shares with voting rights. Based on the share voting numbers determined for this meeting, the total voting rights applicable to the poll on the above resolutions were 134,773,996.

For further information please contact:

BMO Investment Business Limited

Company Secretary

Telephone: [phone]

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September 24, 2020 11:59 ET (15:59 GMT)