#AGM Results #City of London #Shareholder Votes

City of London Investment Group's Annual General Meeting Results

On October 27, 2025, the City of London Investment Group plc held its Annual General Meeting (AGM), where shareholders cast their votes on various resolutions, reflecting the company's strong governance framework and shareholder engagement. The results indicated a robust backing from the investors, showcasing trust in the company's leadership and strategic direction.

Key Outcomes of the AGM

The AGM included a total of 16 resolutions, categorized into Ordinary and Special Resolutions. The outcomes were overwhelmingly positive, with a significant majority of votes cast in favor of each resolution, affirming the company's strategic plans moving forward.

Breakdown of Ordinary Resolutions

Among the Ordinary Resolutions, several key highlights emerged:
1. Directors' Report and Accounts: Received 99.89% support, with only 0.11% against. This resolution allowed shareholders to approve the recent financial results, showcasing confidence in the management.
2. Directors' Remuneration Report: 97.95% of shareholders approved, indicating satisfaction with the remuneration strategies. A total of 15,662,401 votes were cast in favor, further underpinning trust in the board.
3. Final Dividend Declaration: The company proposed a final dividend of 22p per Ordinary Share, which garnered 99.93% approval. This demonstrates the company's commitment to returning value to its shareholders.

Special Resolutions Highlights

The Special Resolutions further highlight the proactive governance approach taken by the City of London:

• - Authority to Disapply Pre-emption Rights: This received 97.67% support, allowing the company flexibility in capital raising without the usual shareholder pre-emption rights.
• - Market Purchases of Ordinary Shares: A significant resolution that empowers the company to buy back shares, which achieved a 93.94% approval rate, suggesting strong backing for strategic share buyback initiatives.

Shareholder Participation

The participation rate was commendable, with 31.63% of issued shares voted, reflecting a healthy engagement level among shareholders. The company recorded a total of 50,679,095 Ordinary Shares in issue at the close on October 23, 2025, ensuring that a broad base of the shareholder fraternity was involved in the decision-making process.

Controlling Shareholder Group

After the merger with Karpus Management, Inc. on October 1, 2020, the company established a