The Trust is listed on the London Stock Exchange and its board comprises four independent directors together with Michael Lindsell.
The Company
The Lindsell Train Investment Trust plc (the “Company”) is an investment trust and its shares are listed on the premium segment of the Official List and traded on the main market of the London Stock Exchange. The Company is a member of the Association of Investment Companies (“AIC”).
Capital Structure
The Company has an issued share capital comprising 20 million Ordinary Shares of 0.75p nominal each.
Income entitlement
The Company’s revenue earnings are distributed to holders of Ordinary Shares by way of dividends (if any) as may from time to time be declared by the Directors and approved by the Shareholders.
Capital entitlement
On a winding up of the Company, after settling all liabilities of the Company, holders of Ordinary Shares are entitled to a distribution of any surplus assets in proportion to the respective amounts paid up or credited as paid up on their shares.
Voting entitlement
Holders of Ordinary Shares are entitled to one vote on a show of hands, and on a poll to one vote for each Ordinary Share held. Notices of Meetings and Proxy Forms set out the deadlines for the valid exercise of voting rights and, other than with regard to Directors not being permitted to vote on matters upon which they have an interest, there are no restrictions on the voting rights of Ordinary Shareholders.
Transfers
There are no restrictions on transfers of Ordinary Shares except: a) dealings by Directors, Persons Discharging Managerial Responsibilities and their connected persons which may constitute insider dealing or are otherwise prohibited by the rules of the UKLA; b) transfers to more than four joint holders; c) transfers to US persons other than as specifically permitted by the Directors; d) if, in the Directors’ opinion, the assets of the Company might become “plan assets” for the purposes of US ERISA 1974; and e) transfers which in the opinion of the Directors would cause material legal, regulatory, financial or tax disadvantage to the Company.
The Company is not aware of any agreements with or between Shareholders which restrict the transfer of Ordinary shares, or which would take effect or alter or terminate in the event of a change of control of the Company.
Dividend
The Directors’ policy is to pay annual dividends consistent with retaining the maximum permitted earnings in accordance with investment trust regulations, thereby building revenue reserves.
In a year when this policy would imply a reduction in the ordinary dividend the Directors may choose to maintain the dividend by increasing the percentage of revenue paid out or by drawing down on revenue reserves. Revenue reserves are currently more than three times the annual proposed 2026 ordinary dividend.
All dividends have been distributed from revenue.
Company Registration Place & Number
Registered in England, No: 4119429
ISA Status
The Company’s shares are eligible to be held in an ISA account subject to HM Revenue & Customs’ limits
Identification Codes
LSE: LTI
SEDOL: BNKDVV7
ISIN: GB00BNKDVV71
BLOOMBERG: LTI LN
Website
Legal entity provider
213800VMBJH2TCFDZU08
Performance
Performance is measured by the MSCI World Index (Sterling).
VAT number
769596452
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