European Smaller Companies Trust shareholders approve asset combination

Published 03/10/2025, 13:20
European Smaller Companies Trust shareholders approve asset combination

LONDON - The European Smaller Companies Trust PLC (ESCT) announced Friday that shareholders approved all resolutions related to the proposed combination with European Assets Trust PLC’s assets at a General Meeting.

According to a company press release, shareholders voted in favor of three key resolutions: authority to allot ordinary shares up to an aggregate nominal amount of £3,125,000, increasing the maximum aggregate fees payable to Directors from £250,000 to £500,000 per annum, and authorization to cancel the amount standing to the credit of the share premium account.

The first resolution received 98.56% approval, with 64,019,089 votes in favor and 935,804 against. The second resolution passed with 94.04% approval, garnering 60,420,485 votes for and 3,829,404 against. The third resolution, proposed as a special resolution, received 98.72% approval with 63,703,246 votes in favor and 825,955 against.

The company had 279,246,204 ordinary shares of 1.5625 pence each in issue at the voting record time, with 51,733,676 shares held in treasury. Total voting rights comprised 227,512,528 votes, with approximately 28.5% of total voting rights participating in the poll.

The approved resolutions support ESCT’s proposed combination with European Assets Trust PLC through a scheme of reconstruction. The full text of the resolutions can be found in the notice of General Meeting contained in the company’s circular to shareholders dated September 9, 2025.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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