Fidelity European Trust: Positive AGM Outcomes Including Share Issuance Authority and Business Continuance

The esteemed powerhouse in the finance industry, Fidelity European Trust PLC, conducted its Annual General Meeting (“AGM”) on 8th May 2025 and pleased the business community with its unanimous and resounding success. All proposed resolutions were dutifully passed, reaffirming the strength and unity in their strategic decision-making process.

A noteworthy point of business was the renewal of the directors’ authority to allocate a specific number of currently unissued ordinary shares. This resolution also extended to the selling of any ordinary shares held as Treasury shares for ready capital. A strategic decision indeed, allowing the company to navigate fluidly in the market, responding rapidly to opportunities as they arise.

The shareholders also empowered the company to repurchase up to 61,628,680 of its own ordinary shares. This could be either for instant cancellation or for retention as Treasury shares based on the board’s discretion. Such a move represents approximately 14.99% of the total number of shares in circulation as of 19th March 2025. A tacticalresolution, demonstrating the company’s emphasis on value creation for its shareholders.

Additionally, the AGM affirmed that the company should continue in its capacity as an investment trust - a testament to its successful past and promising future. Further designing the road ahead, the company has also adopted new Articles of Association. These will soon be filed with Companies House, offering comprehensive details regarding the resolutions.

The voting results will be made public shortly on the company’s website, offering a transparent insight into the meeting’s dynamics. The Portfolio Managers’ AGM presentation will also be accessible for further scrutiny on the company’s website. Following these strategic decisions and successful AGM outcomes, Fidelity European Trust PLC signals strong commitment to its growth agenda, ensuring continued value creation for its stakeholders.