14 Jun 2017 17:18
WITAN PACIFIC INVESTMENT TRUST PLC (the "Company")
Result of Annual General Meeting
The Company confirms that at its Annual General Meeting held on 14 June 2017 (the "Meeting") all resolutions set out in the Notice of the Meeting were duly passed on a show of hands.
The full text of the resolutions may be found in the Notice of Meeting contained in the Report and Accounts for the year ended 31 January 2017, copies of which are available on both the Company's website www.witanpacific.com and on the National Storage Mechanism www.morningstar.co.uk/uk/nsm.
Details of the proxy votes received prior to the meeting will be made available on the Company's website.
Share buy-back programme
The Company is amending its disclosure policy to include on a regulatory information services ("RIS") details of its share buy-back powers which it renews annually. It is expected that similar announcements will be made every time the share buy-back authority is renewed.
The Company announces that it has authority to repurchase a maximum of 9,503,912 of its ordinary shares (being its outstanding shareholder authority). Such authority lasts until the next shareholder authority granted, or where expressly revoked by shareholders. The buy-back may be funded from the Company's resources (including redemptions on funds the Company has invested in and debt facilities, where relevant). No maximum consideration payable has been determined by the Company, but the Company is unable to pay a price for any shares pursuant to the buy-back which would equate to a premium on the net asset value.
The Company has appointed J.P. Morgan Securities plc to act as its broker in respect of the buy-back.
The buy-back will be undertaken pursuant the Company's discount management policy.
This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company's general authority to repurchase shares.
Capita Company Secretarial Services Limited - Corporate Secretary
Email: WitanPacificInvestmentTrustPLC@capita.co.uk
14 June 2017