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LONDON - Downing Strategic Micro-Cap Investment Trust plc (DSM), a London-based investment trust, announced today that its shareholders have approved a special resolution for the company to enter into members’ voluntary liquidation. The decision was made following a poll at the General Meeting held earlier today.
The resolution to liquidate DSM passed with overwhelming support, receiving 98.31% of votes in favor. A total of 5,703,560 votes were cast, representing 12.50% of the issued share capital. There were 96,590 votes against the resolution and 22,072 votes withheld.
As a result of the approval, Derek Hyslop and Richard Barker of Ernst & Young LLP have been appointed as joint liquidators. The announcement follows the suspension of DSM shares from the Official List of the Financial Conduct Authority and from trading on the London Stock Exchange (LON:LSEG)’s main market at 7:30 a.m. on the same day, in anticipation of the General Meeting’s outcome.
The liquidators are expected to make an initial distribution to shareholders in the week commencing March 3, 2025. The expected initial distribution is approximately 2.0 pence per share, which would bring the total distributions since the company began its managed wind-down on February 28, 2024, to about 65.9 pence per share.
The information provided in this report is based on a press release statement issued by Downing Strategic Micro-Cap Investment Trust plc and is available for viewing on the National Storage Mechanism and the company’s website.
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