TR European Growth Trust PLC Result of AGM (2344G)

TIDMTRG

RNS Number : 2344G

TR European Growth Trust PLC

23 November 2020

HENDERSON INVESTMENT FUNDS LIMITED

TR EUROPEAN GROWTH TRUST PLC

LEGAL ENTITY IDENTIFIER: 213800N1B1HCQG2W4V90

23 November 2020

TR EUROPEAN GROWTH TRUST PLC

Annual General Meeting held on 23 November 2020

TR European Growth Trust PLC (the 'Company') announces that at the 30(th) Annual General Meeting held earlier today all resolutions proposed were duly passed on a poll. This included three special resolutions:

- Resolution 14: to authorise the directors to allot up to 5% of the issued ordinary share capital without first offering them to existing shareholders in accordance with statutory pre-emption procedures;

   -     Resolution 15:  to authorise the Company to make market purchases of its own ordinary shares; 

- Resolution 16: to hold general meetings other than an annual general meeting on not less than 14 clear days' notice.

The full text of the resolutions can be found in the circular to shareholders dated 14 October 2020 which can be viewed on the Company's website at: www.treuropeangrowthtrust.com .

The poll results were as follows:

 
                                                                   Total 
                                               Votes                votes              Votes 
   Resolution         Votes for        %     against       %         cast       %   withheld 
                                 -------              ------ 
   1. Annual 
    report and 
    financial 
    statements       10,845,497   100.00          77    0.00   10,845,574   43.29     14,253 
  ----------------               -------              ------               ------  --------- 
   2. Company's 
    Remuneration 
    Policy           10,766,897    99.46      58,796    0.54   10,825,693   43.21     34,134 
  ----------------               -------              ------               ------  --------- 
   3. Directors' 
    Remuneration 
    Report           10,771,855    99.53      51,249    0.47   10,823,104   43.20     36,723 
  ----------------               -------              ------               ------  --------- 
   4. Final 
    dividend         10,843,190   100.00          77    0.00   10,843,267   43.28     16,560 
  ----------------               -------              ------               ------  --------- 
   5. Re-election 
    of Mr 
    Christopher 
    Casey             8,243,875    76.16   2,580,535   23.84   10,824,410   43.20     35,414 
  ----------------               -------              ------               ------  --------- 
   6. Re-election 
    of Mr 
    Daniel Burgess   10,663,910    98.56     156,192    1.44   10,820,102   43.19     39,724 
  ----------------               -------              ------               ------  --------- 
   7. Re-election 
    of Ms 
    Ann Grevelius    10,672,948    98.54     158,290    1.46   10,831,238   43.23     28,589 
  ----------------               -------              ------               ------  --------- 
   8. Re-election 
    of Ms 
    Simona 
    Heidempergher    10,641,544    98.25     189,977    1.75   10,831,521   43.23     28,305 
  ----------------               -------              ------               ------  --------- 
   9. Re-election 
    of Mr 
    Andrew Martin 
    Smith            10,626,396    98.15     199,829    1.85   10,826,225   43.21     33,603 
  ----------------               -------              ------               ------  --------- 
   10. Re-election 
    of Mr 
    Alexander 
    Mettenheimer     10,614,006    98.13     202,809    1.87   10,816,815   43.17     43,012 
  ----------------               -------              ------               ------  --------- 
   11. 
    Re-appointment 
    of 
    Ernst & Young 
    LLP as 
    auditors         10,818,241    99.87      14,348    0.13   10,832,589   43.24     27,238 
  ----------------               -------              ------               ------  --------- 
   12. Directors 
    to determine 
    the auditor's 
    remuneration     10,834,204    99.98       2,533    0.02   10,836,737   43.25     23,090 
  ----------------               -------              ------               ------  --------- 
   13. Authority 
    to allot 
    ordinary 
    shares           10,832,563    99.95       5,789    0.05   10,838,352   43.26     16,475 
  ----------------               -------              ------               ------  --------- 
   14. Authority 
    to disapply 
    pre-emption 
    rights on 
    allotment of 
    ordinary 
    shares*          10,781,324    99.65      38,352    0.35   10,819,676   43.19     35,152 
  ----------------               -------              ------               ------  --------- 
   15. Authority 
    to make 
    market 
    purchases of 
    own 
    shares*          10,815,725    99.90      10,606    0.10   10,826,331   43.21     28,496 
  ----------------               -------              ------               ------  --------- 
   16. Authority 
    to call 
    a general 
    meeting on 
    14 clear days' 
    notice*          10,757,524    99.29      76,473    0.71   10,833,997   43.24     20,829 
  ----------------               -------              ------               ------  --------- 
 

* Special resolution.

The Board notes the votes against Resolution 5, representing 23.8% of the shares voted at the meeting. This represents 5.2% of the Company's issued share capital and 10.3% of the voting rights in issue. The Board understands that the majority of the votes against this resolution were from a single shareholder and relates to the number of directorships held by the Chairman of the Board. The Board is aware of the Chairman's other commitments, all of which are non-executive, and believe that he has sufficient capacity to devote to the Company's affairs. Nevertheless, the Board will be seeking engagement with this shareholder, and any others that it can identify as having voted against the resolution, and will provide a further update in due course.

For the purposes of section 341 of the Companies Act 2006, the votes validly cast are expressed in the table above as a percentage of the Company's total voting rights as at the close of business on 19 November 2020 (25,054,198), being the time at which a shareholder had to be registered in the register of members in order to vote at the annual general meeting. A vote "withheld" is not a vote in law and has not been counted as a vote "for" or "against" a resolution.

The number of ordinary shares in issue at the date of this announcement is 50,108,397. On a poll the voting rights are one vote for every two shares held. The number of voting rights is therefore 25,054,198.

A copy of the special business resolutions will be submitted to the National Storage Mechanism ("NSM") and will shortly be available for inspection on the NSM's website at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

For further information please contact:

 
 Colleen Sutcliffe                         James de Sausmarez 
  Henderson Secretarial Services Limited    Director and Head of Investment Trusts 
  Corporate Secretary                       Janus Henderson Investors 
  Telephone: [phone]                  Tel: [phone] 
 Laura Thomas 
  Investment Trust PR Manager 
  Janus Henderson Investors 
  Tel: [phone] 
 

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November 23, 2020 12:01 ET (17:01 GMT)