New Star Investment Trust PLC: AGM Result and Performance Fee (913615)

 
 New Star Investment Trust PLC (NSI) 
New Star Investment Trust PLC: AGM Result and Performance Fee 
14-Nov-2019 / 17:40 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
NEW STAR INVESTMENT TRUST PLC 
 
AGM RESULT & PERFORMANCE FEE ANNOUNCEMENT 
 
New Star Investment Trust plc (the 'Company') announces that at the Annual 
General Meeting of the Company duly convened and held today, 14 November 
2019, all Resolutions as set out in the Notice of Meeting were passed on a 
show of hands. The full text of each resolution can be found in the Annual 
Report and Accounts for the year ended 30 June 2019, which is available at 
www.nsitplc.com. In accordance with listing rule 9.6.2 a copy of all 
resolutions passed as Special Business at the Meeting will be available for 
inspection at the National Storage Mechanism shortly. Proxy votes received 
for the resolutions are shown below. 
 
PERFORMANCE FEE 
 
The performance fee arrangements were agreed in 2008, just before the 
financial crisis, with a hurdle rate based on Libor, when Libor was above 
5%. The investment manager and the Board have discussed the appropriateness 
of the performance fee methodology given that we appear to be in a lower 
interest rate environment. The investment manager and the company no longer 
believe that the performance fee methodology is appropriate and have agreed 
that with effect from the first of January 2020, the performance fee 
arrangement will cease. Therefore the period to 31 December 2019 will be the 
last period for which the manager will be eligible for a performance fee. 
There will be no changes to the annual management fee charged by the 
investment manager. 
 
AGM PROXY VOTING 
 
             Votes for Votes  % (of    Votes % (of  Total Votes 
                       discre votes    again votes  votes withhe 
                       tionar cast for st    cast   (excl ld 
                       y      &              agains . 
                              discreti       t)     withh 
                              onary)                eld) 
Resolution 1 48,146,09 22,146  100.00%     0  0.00% 48,16  3,340 
                     0                              8,236 
Resolution 2 48,134,09 22,146   99.98% 12,00  0.02% 48,16  3,340 
                     0                     0        8,236 
Resolution 3 48,149,43 22,146  100.00%     0  0.00% 48,17      0 
                     0                              1,576 
Resolution 4 48,052,83 22,146   99.98% 10,00  0.02% 48,08 86,591 
                     9                     0        4,985 
Resolution 5 47,981,85 22,146  100.00%     0  0.00% 48,00 167,57 
                     6                              4,002      4 
Resolution 6 47,971,85 22,146   99.98% 10,00  0.02% 48,00 167,57 
                     6                     0        4,002      4 
Resolution 7 48,139,43 22,146   99.98% 10,00  0.02% 48,17      0 
                     0                     0        1,576 
Resolution 8 48,139,43 22,146   99.98% 10,00  0.02% 48,17      0 
                     0                     0        1,576 
Resolution 9 48,137,43 22,146   99.98% 12,00  0.02% 48,17      0 
                     0                     0        1,576 
Resolution   48,149,43 22,146  100.00%     0  0.00% 48,17      0 
10                   0                              1,576 
Resolution   48,149,43 22,146  100.00%     0  0.00% 48,17      0 
11                   0                              1,576 
Resolution   48,139,43 22,146   99.98% 10,00  0.02% 48,17      0 
12                   0                     0        1,576 
 
Maitland Administration Services Limited - Corporate Secretary 
 
14 November 2019 
 
ISIN:           GB0002631041 
Category Code:  RAG 
TIDM:           NSI 
OAM Categories: 3.1. Additional regulated information required to be 
                disclosed under the laws of a Member State 
Sequence No.:   29358 
EQS News ID:    913615 
 
End of Announcement EQS News Service

(END) Dow Jones Newswires

November 14, 2019 12:40 ET (17:40 GMT)

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