Last checked at 4 Mar 2020 16:53
Scottish Mortgage Investment Trust PLC
('the Company')
Legal Entity Identifier: 213800G37DCS3Q9IJM38
Posting of Notices Convening Rescheduled Extraordinary General Meetings of Debenture Stockholders in respect of:
i) the 6.875% per cent. Debenture Stock 2023; and
ii) the 4.5% Irredeemable Debenture Stock, the 8-14 per cent. Stepped Interest Debenture Stock 2020 and the 6-12 per cent. Stepped Interest Debenture Stock 2026.
Summary
Notices convening rescheduled Extraordinary General Meetings of Debenture Stockholders are today being posted to Debenture Stockholders for the purpose of proposing Extraordinary Resolutions to approve the appointment of APEX Corporate Trustees (UK) Limited as Successor Trustee in respect of the Debenture Stock and to approve certain updates to the Trust Deeds. The meetings have been rescheduled as a significant number of stockholders did not receive the Notices dated 19 February 2020 due to a mailing error.
Reminder of Background
The Bank of Scotland plc (previously known as The Governor and Company of the Bank of Scotland) has given notice that it wishes to retire as the Trustee in respect of the Company's Debenture Stock pursuant to the Trust Deeds. The Company is proposing to appoint APEX Corporate Trustees (UK) Limited ("Apex") as the Successor Trustee and is seeking the approval of the holders of the Debenture Stock to Apex's appointment by way of proposed Extraordinary Resolutions in accordance with the Trust Deeds. The retirement of the original Trustee and the appointment of the Successor Trustee is expected to become effective on the date when the Extraordinary Resolutions are approved and the date the Supplemental Trust Deeds are executed, which is expected to be on the same day.
Furthermore, certain amendments are being proposed to the Trust Deeds to ensure that the Successor Trustee has the benefit of certain now market standard protective provisions in the Trust Deed which any successor trustee is likely to require.
A copy of the two Notices of Rescheduled Meetings are available for inspection on the Company's website at https://www.bailliegifford.com/en/uk/individual-investors/funds/scottish-mortgage-investment-trust/literature/?t=1 and will also be submitted to the National Storage Mechanism and be available for inspection at www.morningstar.co.uk/uk/NSM.
Baillie Gifford & Co Limited
Company Secretaries
4 March 2020
Regulated Information Classification: Additional regulated information required to be disclosed under applicable law.