NORTH AMERICAN INCOME TST (THE) PLC

AGM Information • Jun 10, 2025

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title: "min-agm"
author: "Lisa Rollins"
date: 2022-03-11 15:59:00+00:00
processor: python-docx+mammoth
status: success

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Registered Number: SC005218

The Companies Act 2006

Company Limited by Shares

RESOLUTIONS

of

THE NORTH AMERICAN INCOME TRUST PLC

Passed on 3 June 2025

At the Annual General Meeting duly convened and held on 3 June 2025, the following resolutions were duly passed, one as an ordinary resolution and three as special resolutions:

[11] ORDINARY RESOLUTION

THAT in substitution for all existing authorities, the directors be generally and unconditionally authorised pursuant to s551 Companies Act 2006 to exercise all the powers of the Company to allot ordinary shares of 5p each in the capital of the Company (“ordinary shares”) and to grant rights to subscribe for, or to convert any security into, ordinary shares up to an aggregate nominal amount of £606,549 (or such other amount representing 10% of the issued share capital (excluding treasury shares) as at the date of the passing of this resolution) for a period expiring (unless previously renewed, varied or revoked by the Company in general meeting) on the earlier of the date falling 15 months after the passing of this resolution and the conclusion of the AGM of the Company in 2026, save that the directors may make an offer or agreement which would or might require ordinary shares to be allotted or rights to be granted after expiry of this authority and the directors may allot ordinary shares and grant rights in pursuance of that offer or agreement as if the authority conferred hereby had not expired.

[12] SPECIAL RESOLUTION

THAT in substitution for all existing authorities and, subject to the passing of resolution 11, the directors be empowered pursuant to s570 and s573 Companies Act 2006 to allot ordinary shares or make offers or agreements to allot ordinary shares (within the meaning of s560 of that Act) for cash, and to sell ordinary shares which are held by the Company in treasury, as if s561(1) Companies Act 2006 did not apply to any such allotments or sale. This power shall be limited to the allotment or sale of ordinary shares:

a. whether by way of a rights issue, open offer or otherwise to ordinary shareholders on the Register of Members at such record date(s) as the directors may determine where the ordinary shares respectively attributable to the interests of all ordinary shareholders are proportionate (or as nearly as may be) to the respective numbers of ordinary shares held by them (or are otherwise allotted in accordance with the rights attaching to such ordinary shares) subject in either case to such exclusions or other arrangements as the directors may deem necessary or expedient in relation to treasury shares, fractional entitlements or local or practical problems under the laws of, or the requirements of, any regulatory body or any stock exchange in any territory or otherwise howsoever;

b. up to a maximum aggregate nominal value of £606,549 (or such other amount representing 10% of the Company’s issued ordinary share capital (excluding treasury shares) as at the date of The passing of this resolution);

c. at a price not less than the net asset value per ordinary share as at the latest practicable date before such allotment of ordinary shares as determined by the directors in their reasonable discretion; and

d. shall expire at the earlier of the date falling 15 months after the passing of this resolution and the conclusion of the AGM of the Company in 2026 unless previously renewed, varied or revoked by the Company in general meeting, save that the directors may before such expiry make an offer or agreement which would or might require ordinary shares to be allotted or sold after such expiry and the directors may allot or sell ordinary shares in pursuance of such an offer or agreement as if the power conferred hereby had not expired.

[13] SPECIAL RESOLUTION

THAT in substitution for all existing authorities, the Company be generally and unconditionally authorised in accordance with s701 Companies Act 2006 to make market purchases (within the meaning of s693(4) of that Act) of ordinary shares on such terms and in such manner as the directors may from time to time determine, provided that:

1. the maximum aggregate number of ordinary shares authorised to be purchased is 14.99% of the Company’s issued ordinary share capital at the date of the resolution (equivalent to 18,184,344 ordinary shares (excluding treasury shares) as at 14 April 2025 being the latest practicable date prior to publication of this Notice);
2. the maximum price (exclusive of expenses) which may be paid for an ordinary share shall not exceed the higher of:
3. 105% of the average of the middle market quotations for an ordinary share as taken from the London Stock Exchange Daily Official List for the five business days immediately preceding the date of purchase; and

ii. the higher of the price of the last independent trade and the highest current independent bid on the London Stock Exchange when the purchase is carried out;

c. the minimum price (exclusive of expenses) which may be paid for an ordinary share shall be 5 pence, being the nominal value per share;

d. the authority hereby conferred shall expire at the earlier of the date falling 15 months after the date of the passing of this resolution and the conclusion of the AGM of the Company in 2026, unless such authority is renewed before that expiry;

e. the Company may make a contract to purchase ordinary shares under the authority hereby conferred which will or may be executed wholly or partly after the expiration of such authority, and may make a purchase of ordinary shares pursuant to any such contract; and

f. any ordinary shares so purchased shall be cancelled, or in accordance with the provisions of the Act, if the directors so determine, be held, sold, transferred or otherwise dealt with as treasury shares.

[14] SPECIAL RESOLUTION

THAT a general meeting other than an AGM may be called on not less than 14 clear days’ notice, such authority to expire on conclusion of the AGM of the Company in 2026.