Capital Gearing Tst Circ re General Meeting

 
TIDMCGT 
 
LEI:      213800T2PJTPVF1UGW53 
 
From:   Capital Gearing Trust P.l.c. 
 
Date:    9 April 2020 
 
Capital Gearing Trust P.l.c. 
 
Publication of Circular and General Meeting 
 
Since its approval at the annual general meeting in 2015, Capital Gearing Trust 
P.l.c. (the "Company") has successfully operated a discount and premium control 
policy (the "DCP"). The Board considers its ability to continue to operate the 
DCP to be extremely important particularly in these extraordinary market 
conditions. To ensure that the Company can continue to issue ordinary shares in 
the capital of the Company (the "Ordinary Shares") and, when market conditions 
so require, honour the commitment to buy back Ordinary Shares in accordance 
with the DCP, the Board is seeking to refresh its shareholder authorities both 
in respect of share issuance and buy back with the aim of ensuring such 
authorities are not exhausted before the Company's annual general meeting to be 
held later in the year. 
 
Accordingly, the Company has today published a circular convening a general 
meeting to be held at 11.00 a.m. on 1 May 2020 at the offices of Dickson Minto 
W.S., 17 Charlotte Square, Edinburgh EH2 4DF (the "General Meeting"). 
 
At the General Meeting, three resolutions will be put to shareholders. An 
ordinary resolution will be proposed to give the Board authority to allot up to 
20 per cent. of the aggregate nominal value of the issued share capital of the 
Company as at the date of the General Meeting and a special resolution to give 
the Board authority to disapply rights of pre-emption in respect of the issue 
of such shares. A third resolution will be proposed to give the Board authority 
to buy back up to a maximum of 1,727,487 Ordinary Shares which represents 
approximately 14.99 per cent. of the issued share capital of the Company. 
 
As a result of the Covid-19 pandemic and the imposition of Stay at Home 
measures by the UK Government, attendance at the General Meeting may not be 
possible. In line with the Stay at Home measures, shareholders are strongly 
discouraged from attending the meeting.  Shareholders should submit their proxy 
appointment as soon as possible to ensure that their vote is counted. 
 
The Board always welcomes any questions shareholders may have in relation to a 
general meeting. However, in respect of the upcoming General Meeting 
shareholders are invited to submit any questions by email at the following 
address [e-mail]. 
 
The circular will shortly be available for inspection on the National Storage 
Mechanism which is located at https://data.fca.org.uk/#/nsm/ 
nationalstoragemechanism. 
 
All enquiries: 
 
PATAC Limited 
 
Company Secretary 
 
Tel: [phone] 
 
Email: [e-mail] 
 
 
 
END 
 

(END) Dow Jones Newswires

April 09, 2020 07:45 ET (11:45 GMT)