AGM Report

International Biotechnology Trust (IBT) AGM Report 2015

AGM Date: December 9, 2015

Report Author: Roger Lawson

I attended the International Biotechnology Trust (IBT) Annual General Meeting today (9/12/2015). There were more than 30 shareholders present at the offices of BNP Paribas in the City for a start of 12.30 (but no lunch provided before or after so the timing seems a bit odd). That was more people than last year I gather and there were a number of familiar faces present. This is a specialist investment trust focussed on the worldwide biotechnology sector. Performance has been brilliant in the last few years but the share price took a distinct wobble after the company's year end in August and it was down as much as 25% from its peak at one point. This was on general fears about the sector becoming overpriced, threats of drug pricing legislation

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