8th Jan 2020 15:53
Stock Exchange Announcement
Templeton Emerging Markets Investment Trust PLC ("TEMIT" or "the Company")
Update on 2019 Annual General Meeting ("AGM") Resolution Votes
Legal Entity Identifier 5493002NMTB70RZBXO96
As required by Provision 4 of the AIC Corporate Governance Code, on 11 July 2019 TEMIT announced that all resolutions were passed at its Annual General Meeting on that day. The total votes in favour of Resolution 8 concerning the re-election of Gregory Johnson were 74.93%.
In view of the 25.07% vote against Mr Johnson's re-election, the Chairman of the Board subsequently engaged with those shareholders who had voted against Mr Johnson's re-election in order to better understand the rationale behind their votes. The primary feedback received by the Board is that some shareholders have a general policy of voting against the re-election of any non-independent Directors of investment trusts.
The Board acknowledges the position of some shareholders in re-electing a non-independent Director. It takes this matter seriously and, as such, it will give the views expressed further consideration.
The Company will continue to consult with shareholders on this matter and will provide a further update, as appropriate, in the next Annual Report for the year to 31 March 2020.
For further information please e-mail [email protected] or contact Client Dealer Services at Franklin Templeton on free phone 0800 305 306, +44 (0) 20 7073 8690 for overseas investors, or e-mail [email protected].
Related Shares:
Templeton Emerging Markets