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Lowland Investment Company PLC announced that a special resolution was duly passed at its General Meeting on 10 September 2025. This resolution authorizes market purchases of up to 32,973,842 ordinary shares, equivalent to 14.99% of its issued ordinary share capital (excluding treasury shares), adding to an existing authority for 1,163,299 shares. The total maximum authority for market purchases is 34,137,141 ordinary shares, which will expire at the next AGM, expected in January 2026; the resolution passed with 93.10% (39,173,275) of proxy votes cast in favour.
| Date | 10 Sept 2025 |
| Time | 15:57:32 |
| Category | AGMs and other meetings |
| ID | 8398Y |
JANUS HENDERSON FUND MANAGEMENT UK LIMITED
LOWLAND INVESTMENT COMPANY PLC
LEGAL ENTITY IDENITIFIER: 2138008RHG5363FEHV19
10 September 2025
LOWLAND INVESTMENT COMPANY PLC
(the "Company")
General Meeting held on 10 September 2025
The Company announces that, at the General Meeting held earlier today, the proposed special resolution was duly passed on a show of hands.
The special resolution authorises market purchases of the Company's ordinary shares up to a maximum of 32,973,842 ordinary shares, equivalent to 14.99% of the issued ordinary share capital (excluding shares held in treasury). The authority granted on 10 September 2025 is in addition to the remaining authority, being to authorise market purchases up to 1,163,299 ordinary shares, remaining from the Annual General Meeting held on 28 January 2025. These authorities (for market purchases of the Company's ordinary shares up to a total maximum of 34,137,141 ordinary shares) will expire at the conclusion of the next Annual General Meeting of the Company, expected to be held in January 2026.
The full text of the resolution can be found in the circular to shareholders dated 13 August 2025, which can be viewed on the Company's website at www.lowlandinvestment.com.
A copy of the special resolution will be submitted to the National Storage Mechanism ("NSM") and will shortly be available for inspection on the NSM website at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
The proxy votes received in relation to the resolution were as follows:
|
|
Special resolution |
Votes for (including at Chairman's discretion) |
% |
Votes against |
% |
Total votes cast |
Votes cast (excluding votes withheld) as a % of total voting rights |
Votes withheld |
|
1 |
To authorise the Company to make market purchases of ordinary shares (14.99%) |
39,173,275 |
93.10 |
2,902,995 |
6.90 |
42,076,270 |
19.1 |
91,726 |
A vote 'withheld' is not a vote in law and has therefore not been counted as a vote 'for' or 'against' the resolution. The aggregate number of ordinary shares in issue at the voting record date for the general meeting was 270,185,650, of which 50,213,385 were held in Treasury. Therefore, the total number of voting rights was 219,972,265. Each ordinary share carries one vote.
The Company instructs J.P. Morgan Securities plc to act as its broker in respect of its market purchase transactions. The Company may utilise the authority to purchase shares by either a single purchase or a series of purchases when market conditions allow when they are trading at a discount to the underlying net asset value per share, with the aim of maximising the benefit to shareholders. This proposal does not indicate that the Company will purchase shares at any particular time or price, nor imply any opinion on the part of the Directors as to the market or other value of the Company's shares. This arrangement is in accordance with the Financial Conduct Authority's UK Listing Rules and the Company's general authority to repurchase shares.
For further information please contact:
Janus Henderson Secretarial Services UK Ltd
Corporate Secretary to Lowland Investment Company plc
Telephone: 020 7818 1818
Harriet Hall
PR Director Investment Trusts
Janus Henderson Investors
Tel: 020 7818 2919