Company Announcements

23 April 2020

F&C INVESTMENT TRUST PLC ("FCIT")

LEI: 213800W6B18ZHTNG7371

ARRANGEMENTS FOR THE ANNUAL GENERAL MEETING 2020 ("AGM")

FCIT recently gave notice of its AGM to be held at 12 noon on Thursday, 7 May 2020 at Merchant Taylors Hall, London EC2 (the Notice of Meeting) and indicated that this might change in view of the worsening situation with COVID-19 (coronavirus).

Following the introduction of UK Government guidance on social distancing and the prohibition of non-essential travel and public gatherings, this year's AGM will now be functional in format attended only by the minimum number of members sufficient to form a quorum. Furthermore, as Merchant Taylors Hall is now closed for the foreseeable future, the AGM has been postponed until 1.00 pm on the same date (one hour later than stated in the Notice of Meeting) and will instead be held at Little Penwood, Highclere, RG20 9HA.  In accordance with the UK's lockdown measures, shareholders are prohibited from attending in person.

Shareholders are therefore strongly encouraged to register their votes electronically or by completing the voting forms and to appoint the chair of the meeting as their proxy, in order to ensure their votes are counted. If a shareholder appoints someone other than the chair of the meeting as their proxy that person will not be able to attend. Voting on all resolutions will be held on a poll, the results of which will be announced and posted on FCIT's website at fandcit.com immediately after the meeting.

One of the resolutions for approval is that of the final dividend for the year ended 31 December 2019.  FCIT has paid a dividend in every year since its formation in 1868 and, subject to shareholder approval, the forthcoming payment will be the 49th consecutive annual increase. Some companies have recently announced substantial cuts in their dividend payments, and FCIT can therefore expect to see large declines in revenue as companies reduce their payments. Nevertheless, FCIT's prudence over many years in establishing a substantial revenue reserve leaves it very well placed and, as previously reported, it remains the Board's intention to pay an increased dividend for the year ending 31 December 2020; the 50th year of consecutive annual increases.

The Board considers continued shareholder engagement important and has therefore arranged for answers to some frequently asked questions to be posted on the website. If any shareholder has additional questions on the Report and Accounts or the resolutions being put to this year's AGM or wishes to receive a copy of the frequently asked questions, these can be addressed to FCITCoSec@bmogam.com ahead of the meeting.  A presentation from the Fund Manager will be posted on the Company's website nearer the time also with the opportunity for shareholders to ask questions.  The Board will continue to monitor developments around COVID-19 and, if it is practicable and safe to do so, will hold a separate shareholder event later in the year.

Name of contact and telephone number for enquiries:

Hugh Potter

For and on behalf of

BMO Investment Business Limited, Secretary

Telephone: 020 7011 5183