14 January
2025
Herald
Investment Trust plc
LEI:
213800U7G1ROCTJYRR70
ISS recommends
shareholders vote "AGAINST" the Requisitioned
Resolutions
The Board of Herald Investment Trust
plc ("Herald" or the
"Company") notes the
publication of the voting recommendation from ISS, the independent
proxy adviser, in relation to the Company's forthcoming General
Meeting.
ISS
has recommended that Herald Investment Trust shareholders vote
"AGAINST" the Requisitioned Resolutions at the General Meeting on
22 January 2025.
ISS states that Saba Capital has not
presented a compelling case for change, let alone a case for a
majority position on the Board and a strategy overhaul.
This recommendation is in line with the unanimous
recommendation of the Company's Board which has previously outlined
its recommendation to VOTE AGAINST the proposed Requisitioned
Resolutions for the reasons set out in the Circular posted to
Shareholders on 3 January 2025 and available on the Company's
website at
https://defence.heralduk.com/.
Andrew Joy, Chairman of Herald Investment Trust plc,
said:
"The Board of Herald welcomes and is encouraged by the
recommendation from ISS for Shareholders to VOTE AGAINST the
Requisitioned Resolutions proposed by Saba on 22 January 2025. The
recommendation supports our belief that the proposals from Saba are
not in the best interests of all Shareholders, and we strongly urge
all Shareholders to VOTE AGAINST the Requisitioned Resolutions
proposed."
General Meeting and How to
Vote
The Requisitioned General Meeting to
vote on the Resolutions will be held at 10-11 Charterhouse Square,
London EC1M 6EE on 22 January 2025 at 12 noon.
Investors who hold their Shares
through an investment platform provider or nominee are encouraged
to contact their investment platform provider or nominee as soon as
possible to arrange for VOTES
AGAINST each of the Requisitioned Resolutions to be
lodged on their behalf. Further information on how to vote through
platforms can be found at the following
link: https://www.theaic.co.uk/how-to-vote-your-shares.
For
further information please contact:
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Herald Investment Trust plc
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via Camarco
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Andrew Joy (Chairman)
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Camarco (Media
enquiries)
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+44 (0)20 3757 4980
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Billy Clegg / Ben Woodford / Eddie
Livingstone-Learmonth
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Herald@camarco.co.uk
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Singer Capital Markets (Corporate Broker)
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+44 (0)20 7496 3000
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Alan Geeves / Sam Greatrex / James
Waterlow / William Gumpel (Sales)
James Maxwell / Alaina Wong
(Investment Banking)
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J.P. Morgan Cazenove (Financial Adviser)
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+44 (0)20 3493 8000
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William Simmonds / Rupert
Budge
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NSM
Funds (UK) Limited (Company Secretary)
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HIT@nsm.group
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Brian Smith / Shilla
Pindoria
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Important information
Capitalised terms used throughout this announcement shall have
the meanings ascribed to them on pages 18 to 21 of the circular
published by the Company on 3 January 2025 (the "Circular"), unless the context
otherwise requires.
Neither the content of the websites referred to in this
announcement, nor the content of any other website accessible from
hyperlinks on such websites, is incorporated into, or forms part
of, this announcement.
