15th Sep 2017 14:00
15 September 2017
Aberdeen Private Equity Fund Limited
Results of Annual General Meeting
The Board of Aberdeen Private Equity Fund Limited announces that, at the Annual General Meeting of the Company held today, 15 September 2017, Ordinary Resolutions 1 to 7 and Special Resolution 9 put to the meeting were approved by shareholders by way of poll.
Special Resolution 8 was approved by a majority of shareholders but failed to achieve the requisite 75% majority and therefore, did not pass.
Details of the proxy votes lodged are set out below:
Ordinary Resolutions | For* | Against | Withheld** |
1. To receive and adopt the Financial Statements of the Company for the year ended 31 March 2017 | 91,898,362 | 58 | 2,891,340 |
2. To receive and adopt the Directors' Remuneration Report | 91,865,358 | 33,062 | 2,891,340 |
3. To approve the Directors' Remuneration Policy | 91,865,358 | 33,062 | 2,891,340 |
4. To approve the payment of a final dividend of 2.0 pence per share | 91,898,362 | 58 | 2,891,340 |
4. To re-elect Mr D Copperwaite as a Director | 91,896,449 | 1,058 | 2,892,253 |
6. To appoint PricewaterhouseCoopers CI LLP as Auditors to the Company | 73,190,373 | 18,704,047 | 2,895,340 |
7. To approve that the Company continue its business as a closed-ended investment company | 66,736,677 | 28,053,083 | 0 |
Special Resolutions | |||
8. To authorise the Directors to allot shares in the Company | 64,154,337 | 27,740,083 | 2,895,340 |
9. To authorise the Company to make market purchases of its own shares | 91,866,174 | 28,246 | 2,895,340 |
The Board of Directors notes the votes against Resolution 6 and will engage further with those shareholders to understand their views.
The Board of Directors further notes the votes against Resolutions 7 and 8. These votes were cast by a small number of shareholders and predominantly by one shareholder who recently came onto the Company's register. The Board will engage further with this shareholder.
The full text of the resolutions may be found in the Notice of Annual General Meeting contained in the Report and Financial Statements for the year ended 31 March 2017, copies of which are available on both the Company's website www.aberdeenprivateequity.co.uk and on the National Storage Mechanism www.morningstar.co.uk/uk/NSM***
A copy of the Special Resolution passed at the Annual General Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM***
* Includes discretionary votes received
** A vote withheld is not a vote in law and is not counted in the proportion of votes 'for' or 'against' a resolution
*** Neither the NSM website nor the Company's website nor the content of any website accessible from hyperlinks on those websites (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement
Enquiries:
Company Secretary and Administrator
Ipes (Guernsey) Limited
Nicholas Robilliard
01481 713843
Related Shares:
APEF.L