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Polar Capital Global Financials update

QuotedData- Polar Capital Global Financials Trust - New lease of life

Polar Capital Global Financials update

Today the banking sector is significantly better capitalised than it was in the years leading to the global financial crisis and regularly stress tested by its regulators to ensure it can withstand significant shocks. Furthermore, the recent extraordinary steps that central banks and governments worldwide have announced will significantly dampen the downturn and while there remains significant uncertainty in the short-term, the investment manager believes that current valuations significantly undervalue the long-term prospects of the sector.

General Meeting

All shareholders are encouraged to vote by proxy before the deadline of 4.30pm on Friday 3 April 2020.

The most recent “Stay at Home” measures adopted by the government prohibit, save where essential for work purposes, public gatherings of more than two people. The company’s view, which is supported by The Chartered Governance Institute (ICSA) is that attendance at a general meeting by a shareholder, other than one specifically required to form the quorum for that meeting, is not essential for work purposes. The company has arranged for a quorum to be present in person at the meeting. Accordingly, we hereby notify shareholders that anyone seeking to attend the meeting in person will be refused entry.

We believe shareholder engagement is very important, ever more so under the current market conditions, and to facilitate shareholder engagement, any specific questions on the business of the eneral Meeting and Resolution can be submitted by e-mail in advance of the meeting to cosec@polarcapital.co.uk (subject marked ‘PCFT_Company Secretary_GM’). Questions deemed appropriate and relevant will be posted to the website along with their associated answers as soon as possible following receipt and, where questions are provided by close of business on 3 April 2020, we will endeavour to respond to those questions in advance of the meeting.”

A copy of the Circular incorporating the Notice of Meeting is available for inspection from the National Storage Mechanism at www.morningstar.co.uk/uk/NSM and on the company’s website www.polarcapitalglobalfinancialstrust.com.

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