River & Mercantile UK Micro Cap Inv Result of AGM (3123R)

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RNS Number : 3123R

River & Mercantile UK Micro Cap Inv

27 February 2019

27 February 2019

River and Mercantile UK Micro Cap Investment Company Limited

("Company")

Result of Annual General Meeting

The Board of the Company announces that all of the resolutions proposed at the Annual General Meeting convened today were duly passed. Further information on the votes cast on each resolution will be available on the Company's website shortly.

The Board has noted the votes against Resolutions 1 and 6. The Board believes that the votes against Resolution 1 relate to the fact that, on 11 February 2019, a shareholder advisory group published a recommendation to vote against Resolution 1 stating that the disclosure of the investment manager's contract in the annual report of the Company for the period to 30 September 2018 did not meet the advisory group's requirements. Following representations by the Company, the advisory group agreed that the required information was indeed included in the annual report and, on 13 February 2019, they informed the Company that they had amended their advice on Resolution 1 to a recommendation to vote in favour. The Board will be in touch with shareholders who voted against Resolution 1 to discuss and understand their views.

The Board believes that the votes against Resolution 6 relate to the fact that, as disclosed in the annual report, Mark Hodgson is not considered an independent director because he is a director of Carne Global AIFM Solutions (C.I.) Limited ("Carne"). Carne is the Alternative Investment Fund Manager of the Company but is unrelated to River & Mercantile Asset Management. The opinion of the other Directors is that Mark provides considerable and complementary expertise to the Board, particularly in the area of risk management, in which Carne has a significant operation. In accordance with the recommendations of the Association of Investment Companies in relation to non-independent directors, Mark is subject to annual re-election; and indeed the independent directors also put themselves forward for annual re-election. The Board will be in touch with shareholders who voted against Resolution 6 to understand their views.

- ENDS -

Enquiries:

Jasper Cross

BNP Paribas Securities Services S.C.A., Guernsey Branch

Tel: [phone]

Robert Peel

Cantor Fitzgerald Europe

Tel: [phone]

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February 27, 2019 10:00 ET (15:00 GMT)