AGM Statement

Fidelity China Special Situations PLC

Results of Annual General Meeting

At the Company’s Annual General Meeting held on 20 July 2023, all resolutions were duly passed. The resolutions passed as special business were as follows:

- to renew the Directors' authority to allot a limited number of currently unissued ordinary shares (or sell any ordinary shares which the Company holds in Treasury) for cash;

- to issue such shares (including Treasury shares) without first offering them to existing ordinary shareholders pro-rata to their existing holdings; and

- the Company’s authority to purchase up to 72,429,600 of its own ordinary shares for immediate cancellation or for retention as Treasury shares at the determination of the Board.  This represents approximately 14.99% of the number of ordinary shares in issue on 7 June 2023.

Resolution 7, the re-election of Mr Gordon Orr as a Director of the Company, received less than 80% of the votes cast in favour. The Board understands that the votes against the resolution are predominantly in respect of a large shareholder's view on overboarding. The Board has consulted with the large shareholder who voted against the resolution and who subsequently sought to change their vote. Unfortunately, this could not be processed before the Annual General Meeting.  The Board will take steps to address the issue. 

Voting results will shortly be available online at www.fidelity.co.uk/china

Contact for queries:   

Name: Smita Amin, FIL Investments International, Company Secretary

Telephone: 01737  836347