Scottish American Investment Co PLC Financials

“The Directors have elected to do this over a period of five years, which they continue to believe to be appropriate as it reflects the longer term investment strategy of the Company in terms of both investment horizon and income growth, and to be a period during which, in the absence of any adverse change to the regulatory environment and to the tax treatment afforded to UK investment trusts, they do not currently expect there to be any significant change to the current principal risks facing SAINTS nor to the controls in place to effectively mitigate those risks.”

“The Directors have elected to do this over a period of five years, which they continue to believe to be appropriate as it reflects the longer term investment strategy of the Company in terms of both investment horizon and income growth, and to be a period during which, in the absence of any adverse change to the regulatory environment and to the tax treatment afforded to UK investment trusts, they do not currently expect there to be any significant change to the current principal risks facing SAINTS nor to the controls in place to effectively mitigate those risks.”