Circular re. General Meeting 26 November 2020

Baillie Gifford China Growth Trust plc

Legal Entity Identifier: 213800KOK5G3XYI7ZX18

9 November 2020

Publication of a circular

In order to meet the continuing demand for shares in Baillie Gifford China Growth Trust plc (the "Company"), the Board of Directors of the Company (the "Board") is seeking shareholder approval to renew the authorities to allot shares in the capital of the Company and to disapply the statutory pre-emption rights on the issue of those shares.

Accordingly, the Company has today published a circular (the "Circular") convening a general meeting (the "General Meeting") at which an ordinary resolution and a special resolution will be put to shareholders to seek the authorities to allot shares and disapply statutory pre-emption rights in relation to such allotments up to an aggregate nominal value of £2,449,949.25  (amounting to up to 9,799,797 shares) representing approximately 20 per cent. of the Company's issued share capital as at 5 November 2020 (the "Resolutions"). The authorities conferred by these Resolutions will lapse at the next annual general meeting of the Company.

Company seeking early extension and renewal of authorities 

The Board believes that the authorities sought at the General Meeting will allow it to satisfy the continuing demand for shares in the period from the General Meeting to the Company's next annual general meeting. Shareholders should bear in mind that ordinary shares bought at a high premium to net asset value, can quickly lose substantial value if the premium is eroded. A copy of the Circular is available for inspection on the Company's website at https://www.bailliegifford.com/en/uk/individual-investors/funds/baillie-gifford-china-growth-trust/ .   A copy of the circular will also be submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. The Circular contains a full explanation of the proposals, including details of the resolutions to be put to shareholders and the Directors' formal recommendations.

The General Meeting

The General Meeting is to be held at 2 p.m. on 26 November 2020 at the offices of Baillie Gifford & Co, Calton Square, 1 Greenside Row, Edinburgh EH1 3AN.  Given the current risks posed by the spread of COVID-19 and in accordance with the provisions of the Company's articles of association and current Government guidance, the Directors will impose entry restrictions on attendance at the General Meeting in order to ensure the health, wellbeing and safety of the Company's shareholders and officers as well as compliance with the venue's security requirements. The Company shall ensure that a quorum is formed.

Shareholders may and are strongly encouraged to participate in the business of the General Meeting by exercising their votes in advance of the General Meeting and may submit any questions by email to [email protected] or by calling 0800 917 2112.  Please note that Baillie Gifford may record your call.

Baillie Gifford & Co Limited

Company Secretaries

9 November 2020

For further information please contact:

Alex Blake

Baillie Gifford & Co

Tel: 0131 275 2859