Scottish American Investment Co PLC Annual General Meeting - Arrangements (2655H)

TIDMSAIN

RNS Number : 2655H

Scottish American Investment Co PLC

23 March 2020

THE SCOTTISH AMERICAN INVESTMENT COMPANY P.L.C.

Legal Entity Identifier: 549300NF03XVC5IFB447

Coronavirus (Covid-19) - Announcement of revised arrangements for the Annual General Meeting (AGM) and investment update

The Board of The Scottish American Investment Company P.L.C. (SAINTS) recognises the increasing public health risk arising from public gatherings, and notes the government's policy that such gatherings, travel and attendance at workplaces should be discouraged.

At the same time, the Board is conscious of the legal requirement for SAINTS to hold its AGM before the end of June, and the possibility that public health concerns will not have abated before then.

It is therefore the Board's current intention that the AGM should take place as scheduled on Thursday 2 April 2020, but that this should be limited to the formal business set out in the formal notice of meeting contained in the Annual Report.

A separate shareholder presentation by the Managers, at which some or all Board members will also be present and at which there will be an opportunity for Q&A, will be held later in the year should this be practicable.

As a consequence, the Board:

-- strongly advises shareholders, but most particularly those in higher risk groups, against attending the AGM in person; and

-- encourages all shareholders to submit proxy voting forms as soon as possible and, in any event, by no later than 11am on 31 March.

Any shareholders who do still seek to attend the AGM on 2 April 2020 in person should be aware that on the day they will be required to fill in a questionnaire relating to their personal health and travel history and they may not be admitted to the AGM for the health and safety of the other attendees or because of the then current restrictions on public gatherings.

Please note also that the situation will be kept under review, and it is possible that the meeting will be postponed at short notice. We would encourage shareholders to monitor the Company's website at: www.saints-it.com

In relation to the current investment environment, the Board and the Managers recognise the significant disruption to the global economy being caused by the coronavirus (Covid-19). In this environment the Manager's emphasis on operational resilience and dependability in selecting stocks should be helpful. Similarly, the property manager's emphasis on long leases and strong covenants should provide a degree of protection. Nonetheless, while asset prices and the dividends from some of SAINTS' investments will no doubt be affected, the Company's own dividend is supported by a healthy stream of dividend and other income and is underpinned by SAINTS' significant reserves. We remain confident in the long-term prospects of the Company, and its ability to pay a reliable dividend to its shareholders.

Should shareholders have questions for the Board or the Managers, they are welcome as always to submit them by email to: [e-mail]

Baillie Gifford & Co Limited

Company Secretaries

23 March 2020

Regulated Information Classification: Additional regulated information required to be disclosed under applicable laws.

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March 23, 2020 12:20 ET (16:20 GMT)