Martin Currie Asia Uncnst Trust PLC Result of AGM (2317K)

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RNS Number : 2317K

Martin Currie Asia Uncnst Trust PLC

05 July 2017

Martin Currie Asia Unconstrained Trust plc

AGM Announcement - 5 July 2017

At the Annual General Meeting of Martin Currie Asia Unconstrained Trust plc ("the Company") held on 5 July 2017, shareholders voted in favour of all resolutions put to the meeting with over 99% of votes cast in favour of each resolution. Details of the proxy votes received can be found on the Company's website www.martincurrieasia.com.

A copy of the full text of the special resolutions passed at the Annual General Meeting will be lodged with the National Storage Mechanism and will shortly be available for viewing at www.hemscott.com/nsm.do.

The special resolutions passed were as follows:

1. To provide the Board with the powers necessary to allot shares for cash in certain circumstances, and at a price not below the net asset value, without the application of pre-emption rights.

2. To authorise the Company to buyback shares up to a maximum of 14.99% of the issued share capital.

3. To amend the Company's Articles of Association to allow the Company to make payment of dividends out of capital.

Following the amendment to the Company's Articles of Association, the Board is pleased to announce that the final dividend for the financial year ended 31 March 2017 was approved by shareholders as 13.68p per ordinary share including 8.43p to be paid out of capital. The final dividend for the financial year ended 31 March 2017 will be paid on 11 August 2017 to shareholders on the register on 21 July 2017.

Harry Wells, Chairman, said "The full year dividend of 16.28p on the Company's shares for the financial year to 31 March 2017, and referenced to the closing share price on that date, achieves a yield of approximately 4.5% to those shareholders on the register at the year end.

It is the Board's intention to repeat the capital distribution in future years, to be paid on an annual basis along with the final dividend and set by reference to 2% of the prior year-end ex-income Net Asset Value.

The Board believes that the new dividend policy benefits existing shareholders, whilst making the shares attractive to new buyers and appealing to retail investors, who will also be able to participate in the potential for capital growth.

There is no change to investment policy."

Paul Evitt

On behalf of Martin Currie Investment Management Limited

Company Secretary

This information is provided by RNS

The company news service from the London Stock Exchange

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July 05, 2017 10:22 ET (14:22 GMT)