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Shareholders vote to extend Polar Capital Global Financials’s life indefinitely

Polar Capital Global Financials Trust - New lease of life

Shareholders have voted to extend Polar Capital Global Financials’s (PCFT’s) life indefinitely. following a general meeting held yesterday (7 April 2020).

Results of the general meeting and tender offer

“Subsequent to the company’s shareholder circular of 12 March 2020, in which proposals were put forward for the provision of a tender offer to shareholders together with changes to the company’s Articles of Association to extend the PCFT’s life indefinitely subject to further regular tender offers, the company held the general meeting on 7 April 2020 at which the resolution detailing the proposals was passed unanimously on a poll.

The following table indicates the number of proxy votes lodged in advance of the meeting for the resolution. It should be noted that votes withheld do not constitute votes in law. The number of ordinary shares in issue at the date of the General Meeting was 202,775,000 and the number of total voting rights was 202,430,000.

wdt_ID Vote Numberof shares of shares % of votes cast by proxy % of total voting rights
1 In favour (including votes at the chairman's discretion) 133,880,863 100 66
2 Against 0 0 0
3 Withheld 83,017

In accordance with Listing Rule 9.6.2, a copy of the resolution, having been passed as a special resolution, will be submitted to Companies House, as well as the FCA-National Storage Mechanism

The full text of the Proposals and of the resolution proposed to shareholders was set out in the circular to shareholders published on 12 March 2020, and is available on the company’s website at: www.polarcapitalglobalfinancialstrust.com.

Click here to read an article we published over March, which discussed why we believe PCFT deserved to extend its life.

[This is great news for PCFT, now we wait to see how many investors have asked for their money back in the tender.]

PCFT: Shareholders vote to extend Polar Capital Global Financials’s life indefinitely

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