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Result of AGM

23rd Nov 2020 17:01

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 30th 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:

Resolution	Votes for	%	Votes against	%	Total votes cast	%	Votes 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

Henderson Secretarial Services Limited

Corporate Secretary

Telephone: 020 7818 5919

James de Sausmarez

Director and Head of Investment Trusts

Janus Henderson Investors

Tel: 020 7818 3349

Laura Thomas

Investment Trust PR Manager

Janus Henderson Investors

Tel: 020 7818 2636

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END

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