Publication of Circular and General Meeting

LEI:      213800T2PJTPVF1UGW53

From: Capital Gearing Trust P.l.c. 

Date: 15 November 2023

Capital Gearing Trust P.l.c.

Publication of Circular and General Meeting

The Company has successfully operated a discount control policy (the "DCP") for a number of years, with the aim of ensuring that, in normal market conditions, the Company's ordinary shares trade consistently close to their underlying net asset value per share. The DCP encompasses both share issuances and most recently, share buybacks. As announced on 31 October 2023, share buybacks have recently been constrained because of the Company's limited distributable reserves.

Accordingly, the Company has today published a circular convening a general meeting to be held at 10.30 a.m. on 5 December 2023 at the offices of Juniper Partners Limited, 28 Walker Street, Edinburgh EH3 7HR (the "General Meeting"). At the General Meeting, resolutions will be proposed to (i) cancel the amount standing to the credit of the Company's share premium account in order to create distributable reserves; and (ii) renew the Company's shareholder authority to buy back ordinary shares (the "Proposals").

The Proposals seek to ensure that, once the Company's share premium account is cancelled, with the resulting sum credited to the Company's distributable reserves, the Company will be able to recommence the normal operation of the DCP with the maximum permitted authority to buy back ordinary shares.

A copy of the circular will shortly be available for inspection on the Company's website at www.capitalgearingtrust.co.uk and on the National Storage Mechanism which is located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

All enquiries:

Juniper Partners Limited

Company Secretary

Tel: 0131 378 0500

Email: [email protected]