Scottish Mortgage Investment Trust PLC – an Edinburgh-based investment trust – announces that at its general meeting on Friday the resolution approving and adopting its new investment objective and policy was adopted by shareholders, with 99.72% voting in favour. This includes “limited additional capacity of up to GBP 250 million” to invest in unlisted companies. Chairman Christopher Samuel says this “provides the company with significant flexibility to pursue attractive private sector investment opportunities where the share of the portfolio invested in private companies exceeds 30% of total assets.” He adds: “We believe this measured change strengthens the company’s ability to pursue long-term returns on behalf of shareholders, while remaining strictly within a disciplined and well-governed framework.”
Scottish Mortgage announced plans to change its investment policy in mid-March, specifying that the 30% limit would continue to apply to its investment manager.
Current share price: 1,361.50 pence
Change over 12 months: up 58%
By Emma Curzon, journalist at Alliance News
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