Continuation Vote

Continuation Vote

The Company was launched in 1996 and has within its corporate structure the requirement to hold a five-yearly continuation vote. The last continuation vote was passed at the AGM held in September 2020 with 100% of the votes in favour and the next continuation vote will be held at the forthcoming AGM in September 2025.

Ahead of the upcoming continuation vote, the Board, Investment Manager and Corporate Broker have been seeking Shareholder views including any concerns and an indication of whether they were likely to vote in favour of the Company’s continuation. No comments adverse to the continuation vote have been received to date and the Shareholders who provided feedback were minded, at the time of writing, to vote in favour of the resolution for the Company to continue. Shareholders highlighted the contact between the Investment Manager and Shareholders, the long term investment horizon of many Shareholders, the diversification of the Company’s register of Shareholders and the Company’s inclusion on many buy lists at private wealth managers and retail platforms. As such, the Directors are confident that the continuation vote will be passed at the AGM to be held on 10 September 2025 and therefore the Company will continue in existence. As such the Board is supportive of the Company continuing in its current form and recommends shareholders vote in favour of continuation as indeed the Directors propose to do. The Board acknowledge that there can be no certainty that the continuation vote will be passed although, at the date of approval of these financial statements, we have no reason to believe that it will not do so.