JPMorgan Brazil Investment Trust Result of AGM (3395Z)
17 Setembro 2020 - 10:22AM
UK Regulatory
TIDMJPB
RNS Number : 3395Z
JPMorgan Brazil Investment Trust
17 September 2020
LONDON STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN BRAZIL INVESTMENT TRUST PLC
RESULTS OF ANNUAL GENERAL MEETING
Legal Entity Identifier: 5493002T5BE3YCTKTE20
Information disclosed in accordance with DTR 9.6.18
Following the Annual General Meeting ('AGM') of the Company,
which was held today, the Board announces that all of the
resolutions put to the shareholders were passed except Resolution
No. 10 relating to the Continuation Vote.
The full text of all the resolutions can be found in the Notice
of Annual General Meeting contained in the Annual Report and
Financial Statements which is available for viewing at the National
Storage Mechanism which can be located at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism and from the
Company's website, www.jpmbrazil.co.uk.
The full results of the poll conducted at today's meeting will
shortly be available on the Company's website.
Liquidation Proposals
As noted above, the Company's continuation vote was not passed
by Shareholders at the AGM. The Directors had recommended that
Shareholders vote against continuation, with the Chairman noting in
his statement in this year's Annual Report that despite the long
term potential of the Brazilian economy and stock market, the
political and economic challenges facing the country remain
substantial and it is not possible to be confident about when this
potential may be realised. The Directors had also taken the
feedback received from Shareholders into account in reaching their
recommendation.
The Directors have carefully considered the options available to
the Company and have concluded that the most appropriate option
will be to put proposals to Shareholders for the orderly
liquidation of the Company (the 'Liquidation'), returning cash to
shareholders at NAV less costs (the "Proposals").
The Board anticipates publishing a circular in connection with
the Proposals by the end of October 2020 convening a general
meeting to approve the Liquidation in November 2020.
Board change
Further, the Company confirms that as announced, Mr. Howard
Myles, who had served on the Board as Chairman for 10 years,
retired at the conclusion of the AGM and Mr. Victor Bulmer-Thomas
has assumed the role of Board Chairman.
17th September 2020
For further information, please contact:
Priyanka Vijay Anand
Company Secretary
For and on behalf of
JPMorgan Funds Limited
020 7742 4000
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END
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September 17, 2020 09:22 ET (13:22 GMT)
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