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DSM: Proposed amendment to Articles of Association

Downing Strategic Microcap Investment Trust plc
Updated ·1-min read

Downing Strategic Micro-Cap Investment Trust Plc (the "Company")
LEI: 213800QMYPUW4POFFX69
Proposed amendment to Articles of Association
20 January 2023

The Company has identified a technical legal issue with its share capital. Under the Companies Act 2006, the Company must have at least one non-redeemable share in issue. All of the current issued shares in the Company are redeemable. Accordingly, the Board will shortly convene a general meeting to approve an amendment to the Company's articles of association to create a new single non-redeemable preferred share.

In accordance with the provisions of the Companies Act 2006, during the short period before this amendment takes effect the Company will not be able to buy back any shares, but the Board intends to recommence share buybacks as soon as the relevant resolutions are passed. This amendment will have no impact on the Company's cash exit proposal in 2024.